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Strategies & Market Trends : Z Best Place to Talk Stocks -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (40027)	5/29/2002 12:16:11 PM
From: Joe Stocks	Read Replies (1) \| Respond to of 53068

>>One of the great strengths of this thread, << Some of you may know I own a Hardware and Garden Center store in the Atlanta Area. (probably one of the best ones- no brag, just fact)Anyway your comment reminded me of something that we put on our street sign this spring. "Can't we all get a lawn". Joe

To: Larry S. who wrote (40027)	5/29/2002 2:04:32 PM
From: Kelvin Taylor	Read Replies (2) \| Respond to of 53068

Larry, we had not shared the same opinion on T in the past. I for one saw T's business in decline and considered the stock a short not a long one to hold. today the price reached a new 52 week low on this news: AT&T cut to two notches above "junk" by Moody's NEW YORK, May 29 (Reuters) - AT&T Corp. (NYSE:T - News) on Wednesday saw its credit ratings, affecting $25 billion of debt, cut to two notches above "junk" status by Moody's Investors Service. The credit rating agency said the No. 1 U.S. long-distance phone company faces "weakened revenue prospects" and rising competition in its core business. Moody's cut New York-based AT&T's senior unsecured debt two notches to "Baa2" from "A-3," and affirmed its "Prime-2" short-term rating. Its rating outlook is negative. Downgrades ordinarily raise borrowing costs. "The downgrade reflects the weakened revenue prospects for the long distance voice and data industry," Moody's said. "AT&T will feel the impact of increasing competitive pressures from the (regional Bell operating companies) and technology substitution and uncertainty particularly regarding the company's ability to offset the erosion in the operating performance of its voice business." AT&T, which enjoyed gilt-edged "triple-A" credit ratings in the early 1980s, is spinning off its cable TV unit, AT&T Broadband, to Philadelphia-based Comcast Corp. (NasdaqNM:CMCSA - News). AT&T shares traded Wednesday on the New York Stock Exchange at $12.06, down 35 cents. They have fallen about one-third this year, from $18.14. Is T a turn around story or will it become another WCOM? still a long way down from here at least for shorting.