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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: elmatador who wrote (17807)	4/4/2002 10:03:52 AM
From: AC Flyer	Read Replies (2) \| Respond to of 74559

A personal anecdote on big telecom failures. I received a call from MCI last night, inviting me to switch long distance carriers. I responded that I was happy with my current service at 4.5 cents/minute 24/7, 6 second billing increments and no fees. The salesperson asked me who was my carrier. I responded "Global Crossing." "Oh, didn't they go out of business," she said, reading from her script. "No," I replied, "they filed Chapter 11, the company's assets were sold and my service continued without a hiccup." The point of all this is that one man's bankruptcy is another's low cost network. The new owner of Global Crossing's assets has a shiny new network that he carries at a low book value with minimal debt service and negligible depreciation expense. And I still have 4.5 cent per minute long distance service.