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Technology Stocks : MRV Communications (MRVC) opinions? -- Ignore unavailable to you. Want to Upgrade?

To: Duffeck who wrote (41415)	8/15/2003 11:23:58 AM
From: Greg h2o	Read Replies (1) \| Respond to of 42804

wasn't MRV doing some business with 360 Networks? here's an excerpt from a WSJ article (if you have access to the WSJ, i'd highly recommend the article): DUBLIN -- In the waning days of the telecom boom, 360networks Inc. of Vancouver spent $850 million to create one of the world's fastest fiber-optic systems: a 2-inch-diameter cable stretching 3,500 miles across the North Atlantic. It was part of a grand plan to build a telecom network from Norway to Singapore. Then the bubble burst, the grand plan flopped and 360networks filed for bankruptcy protection. But a few months ago Kenneth Peterson Jr., a 51-year-old former small-town attorney turned aluminum-smelting magnate, saw promise in all that cable. Mr. Peterson snapped up 360networks' route for $18 million -- about two cents on the dollar -- and took over its lavish headquarters on the outskirts of Dublin. Mr. Peterson's plan: Keep overhead low at his firm, Hibernia Atlantic, and use the savings to offer rock-bottom rates on trans-Atlantic telecom services. His target clients are mostly U.S. companies, and he plans to offer them everything from standard voice and video to a new service called trans-Atlantic data replication, which lets them ship their data to Ireland for storage, where it will theoretically be less vulnerable to terror attacks.