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

To: P.T.Burnem who wrote (2993)	7/23/1998 12:50:00 PM
From: JM	Read Replies (2) \| Respond to of 11568

<<WCOM has neither wireless nor last mile properties.>> Which means that they will print more money(mci-wcom stock) to buy what they do not have. There will no doubt be a means of booking this that will make such a deal accretive to earnings. This will once again cause the stock price to accelerate. Do the fundamentals justify such a move, or even the recent surge? Probably not. Your concern is certainly justified. Though I believe the true test for the company will come, once all parts are absorbed and in place. Once earnings growth (no matter how its measured) begins to slow...down wcom will go. It would be prudent for all wcom stockholders to be ever vigilant because at these prices management has no room for mistakes.

To: P.T.Burnem who wrote (2993)	7/23/1998 1:07:00 PM
From: Mazman	Read Replies (1) \| Respond to of 11568

PTB, My guess is that a wireless company, perhaps WCII, is the next target in Bernie's crosshairs. regards, mazman

To: P.T.Burnem who wrote (2993)	7/23/1998 2:25:00 PM
From: mmeggs	Respond to of 11568

Okay, I've been reading for a while, and I think I'll weigh in on this one. My question to you is where is the substantiation for the assertion they are "cooking" books? Believe me, meltdowns like OXHP, CD, etc. ring bells with me. And if you look closely at the "irregularities" the basic problem is that they were claiming revenue and earnings that weren't there. In OXHPs case, they literally weren't paying claims, and were reporting EPS as if they didn't have to. CD, or more properly companies acquired by CD, recognized revenue well in advance of receipt, ignored membership cancellations, and generally lied about earnings. Are you saying that WCOM somehow lies about EPS, or just that is richly valued? If I see concrete evidence that UUNet is not growing rapidly, local revenues are inflated, international growth is stagnant, then I'm out of here. Instead I see huge capital expenditures to expand capacity of UUNet, which is already 8 times as large as the second largest ISP; the only legitimate threat to the ILECs with the MFS, Brooks, and now MCIC's local assets; and the only telco actually going into, as opposed to setting up "strategic relationships" internationally. MCIC has an enormous corporate and residential client base to sell into, and much, much higher brand awareness than WCOM. Yes, they sold MCIC's internet business and they can't go into pre-existing MCIC internet clients under the terms form DoJ. But they had only begun to tap the potential of their existing client base anyway. My money is on WCOM doing a lot more with those assets than MCIC did. The current numbers about margin, profitability, next quarters EPS, etc., are of marginal concern to me. I'm not buying for next quarter, I'm buying for three years from now. I hope this doesn't come off confrontational because I don't mean it to be. If there is fraud in their accounting procedures, I'd be pretty disturbed. But let's face it, everyone out there is "cooking" books - charges, stock options, reserving revenue, tax rates, whatever, nobody is squeaky clean. But the story on WCOM is huge, and the potential for this stock to grow into its valuationis very much there. mmeggs