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Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: A.L. Reagan who wrote (2329)	7/2/2002 12:51:11 PM
From: Pierre	Respond to of 2737

I wonder if pcstel is busy doing that right now? <vbg> Pierre

To: A.L. Reagan who wrote (2329)	7/2/2002 6:10:47 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 2737

<If somebody could buy up all the LEAP debt at 15 cents or so on the dollar and all the common at under $1, it would be a helluva deal - I think the #'s might look pretty compelling if one did a comparison of the total current market enterprise value. > Al, I think the problem is one of priority. If the vendor financing gets a shortfall, then the other creditors and shareholders will get nothing. So, even if all of the rest of the debt and shares can be acquired for $1,000,000, it wouldn't be a good investment. I have no idea whether the vendor financiers will have enough residual value in Leap to get their money back, nor whether Leap will manage to make timely payments. The current market vote is that they will not. Meanwhile, markets down some more today. This is the biggest market capitalisation reduction in history, far exceeding the trivial 1929 reduction [in total capital reduction, not percentage]. Mqurice