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To: SKIP PAUL who wrote (117365)4/24/2002 8:44:19 PM
From: arun gera  Read Replies (1) | Respond to of 152472
 
>Now that they know about, it it should be an easy fix. They said they have fixed it. If nothing else they should be able to insure the risk. Maybe that is why they are raising the subscription by three bucks a month. >

How well Leap controls the fraud, we will find out by next quarter. It seemed to have gone out of control in Q1 2002. LWIN may be just be writing more of it in that quarter than Q@-Q4 2002 which are bound by loan covenants.

They did a great job on the the Cost of Service reduction. G&A was a little higher than I expected partly due to about $13 million of non-cricket G&A.

Arun