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Technology Stocks : Winstar Comm. (WCII) -- Ignore unavailable to you. Want to Upgrade?

To: SteveG who wrote (7637)	8/9/1998 5:29:00 PM
From: Edward Murphy	Read Replies (1) \| Respond to of 12468

Steve & all Well my vacations are over with so you can probably all breath a sigh of relief. It sure hasn't been pretty and due to the recent strength of my portfolio I'm going to be working weekends and evenings shaking the money tree. I'll be sure to let you know in advance if I take a long weekend. Listened to the CC while I was away and was not overly impressed. I was hoping for better. The hub numbers were pathetic. Can't have customers totally on net without the hubs. We were told last October that 49 were planned to be up and working by year end . They have the money - IMO they are too concerned with ebitda number and have sacrificed build out for ebitda.(Aren't we paying interest on that $ whether we use it or not?) Without the facilities in place for wireless, they have nothing new or different to offer prospective customers other than promises of better service and things to come. If they came to me, I'd tell them to come back when they had their act together and facilities in place. you can talk about future data demand and revenues all you want- without a built out network WCII can't offer truly high speed data and is just another incumbent or reseller in that regard. Once they demonstrate P-MP works and they can build out the system and provide the service, then the market will give them additional value for data revenues and P-MP, until then its hot air. To their credit, management has not been touting this aspect of the business. I agree with you that data will generate very substantial revenues down the road - long term this company is a winner. If data does become as big as forecast would this mean we need more bandwidth and an ARTT acquisition makes even more sense? Steve B - Missed the short interest figures but the increase you are talking about makes sense if you believe, as I do, that SW is correct and offers have been made and declined as being insufficient. Back in May or early June, if I was a convert holder or a trader thinking of shorting, my big risk was a deal of some sort with a major telco that would pop the stock into the high fifties or sixties. I would either leave a lot of money on the table or be caught short without a chance to cover. However, if I believed (or knew) that management was being unrealistic and no deal would occur for sometime then that risk evaporated around the time of the annual meeting. Why shouldn't the convert holders lock in a nice profit? If the stock fell or stayed the same they could always cover. It wasn't about to run away to the upside. Once it became clear no deal was pending why not short and make a few bucks as the "hot" money moved on? What was your risk? Dub - do you have the number for the tgnt conference call? It shouldn't be too long and I could use some light entertainment. Ed