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

To: pcstel who wrote (2341)	7/3/2002 11:23:45 AM
From: Rono	Read Replies (2) \| Respond to of 2737

Actually Maurice, I believe they (LU) have been selling the vendor debt at quite a discount for some time now. That is interesting, I had not considered the sale of the vender financing debt to a third party. If indeed this has occurred, would not the new owners of that paper have input of any refinancing and not LU? Playing the devils advocate, I suppose if these new owners of the vender financing debt wanted control of LEAP they could play hardball regarding covenants, bankrupt them, eliminate the common shareholders and bonds, and take control of a potentially profitable business for pennies on the dollar. I'm not suggesting this will happen, or if this is even possible, just offering some wild speculation on why LEAP has fallen so far off the cliff. Ron

To: pcstel who wrote (2341)	7/5/2002 11:23:12 AM
From: HEP_Ronin	Respond to of 2737

"Especially, when you major collateral (spectrum value) has gone down the tubes." As a Leap shareholder I have to ask. Why down the tubes? Wouldn't this just be a symptom of carriers, wireless etc., having too much debt at this time, and therefore supply & demand would reduce price of any assets? e.g. if and when WorldCom restructures -- shedding debt -- shouldn't that raise prices of any such assets since less_debt = more_buying_power. ...wouldn't that be a positive for LWIN? (just trying to get a handle on EBITDA-logic)