Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : WCOM -- Ignore unavailable to you. Want to Upgrade?

To: Esoteric1 who wrote (11460)	9/11/2002 12:22:03 PM
From: Keith Fauci	Respond to of 11568

washingtonpost.com

To: Esoteric1 who wrote (11460)	9/11/2002 12:28:01 PM
From: Oeconomicus	Respond to of 11568

Cramer refers to comments made by director Bobbit at a meeting where he, Kellet and another director were arguing that Sidgemore should step down. He made claims that Sidgemore turned down offers and spurned advances from investors and banks, including the "$2-5 billion" offer, which was supposedly made in May. That was a month after he took over and a month before the company disclosed the bogus accounting. Does Bobbit expect us to believe that Sidgemore could have closed a deal with that alleged investor without the bogus accounting killing the deal? Does he think that Sidgemore should have tried to close the deal in spite of the accounting questions? Does he think Sidgemore should have wanted to become roommates with Sullivan at Club Fed? Sounds like sour grapes from the Friends of Bernie on the BoD.

To: Esoteric1 who wrote (11460)	9/11/2002 2:05:19 PM
From: Esoteric1	Read Replies (1) \| Respond to of 11568

Whiff of Fresh Cash Makes Telecom Smell Sweet By James J. Cramer 09/11/2002 09:58 Beleaguered telecom investors, take heart. Buried in the Wall Street Journal story about how WorldCom's WCOEQ former CEO John Sidgmore might have been too close to Bernie Ebbers -- being Bernie's number two and all -- was a note about how a major institutional investor might invest between $2 billion and $5 billion in the company. Wow! So there was a buyer. There was fresh capital. Who was it? Does he still exist? Will he now invest in Qwest Q , a stock I own and am thinking about buying more of this morning because of this blurb? Was it Warren Buffett, who seems very committed to Level 3 LVLT ? Throughout this miserable telecom debacle, the only fresh cash being injected into the group has come from Buffett. All the rest has come from already committed players who are exhausted or tapped out. This new hope, which we know nothing about beyond what is mentioned, tells me that we are, once again, flirting with a real bottom in the sector. For months, those had been dangerous words as each "bottom" pancaked into another "bottom." No bottom. But that hasn't been the case for the last two months. These stocks, the ones that will make it, have stopped going down. They have stopped going down because there is fresh cash around -- now we know it for sure -- and there are new investors willing to come in and rebuild the sector. I continue to think you have to make a stand with these stocks. I have bought a basket of the biggest disasters left standing, in addition to the Verizon VZ I already owned, on my personal account. ( Click here to sign up for Action Alerts PLUS and I'll tell you about my trades before I make them.) All my career I have looked for situations where the risk can be defined and limited but the reward is expansive. That's how I feel about this sector right now; more so after reading about the billions on the sidelines ready to come into a company far more broken than the ones that remain.