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To: John Vosilla who wrote (35379)	7/15/2005 10:51:47 PM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 306849

CEO's like Bernie Ebbers and Ken Lay were much more financially savy at managing their debt i don't know about Lay, but i believe in Ebbers' trial he had Worldcom guarantee something like $400 million of his own personal debt. but most of the big tech blowups were on the equity side, contributing to the $7 trillion in stock wealth lost. Amazon was one of the few Inuts stupid enough to issue debt instead of more of their overpriced stock to fund operations. i guess they did this because they believed their own bullshiat about the stock continuing higher. most of the bad corporate debt was in the telecom sector. both directly issued corporate debt and vendor financing. there were also hundreds of billions in corporate writeoffs, like the $3 billion in inventory CSCO wrote off (equal to about half of its entire retained earnings from operations at the time, IIRC).