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Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (1398)	3/2/1999 10:01:00 AM
From: Freedom Fighter	Read Replies (1) \| Respond to of 1722

Porc, >>If you really wanted to, you would. But, you insist on having the last word, in a way that is so disrespectful that no one could fail to respond.<< The above is the exact reason I respond. YOU say I am disrespectful and want the last word. I say I want MY words and views to be CLEAR. So if a post of yours that uses my words is not clear (unintentionally) I feel I must clarify. I am dragged into discussing things like AS, Hussman etc.. That is why I get so frustrated with you. >>Imnsho, no one in the history of the Internet has been more fair in quoting prior posts, line by line, than I have in your case. You're not being mischaracterized. You're being exposed. The two are different.<< I agree about your fairness. But again this is what I am talking about. I do not think you are trying to be unfair. I never said that. YOU SAID THAT and are ATTRIBUTING IT TO MY THOUGHTS . I think you are trying to make your own points on an issue. That's cool. But if you use my words and they are an incomplete explanation of my feelings on the subject either because they weren't expressed clearly to begin with or because the single sentence is not a complete thought, I like to clarify. That can drag me into conversations I do not want to have. Like having to tell you I think you are very fair, but sometimes misunderstand what I am saying. I am being exposed as a person who occasionally finds articles of interest that express views that I think are worthy of reading but not worthy of a lot of my time discussing. Certainly, most of them are similar to my own. That I post them does not mean I want to defend the authors or discuss them. I am not competing with you or trying to make points. I am offering my insights to GADR etc.. for free because it's fun and I like to help people. That does not mean I have the time to talk about everything you might want to. It does mean that I want my own thoughts to be clear. You can attack Hussman, AS, or anyone else you want. I don't care at all. If I feel I have something to contribute and I want to I will. That does not mean I want to have a 20 post conversation clarfying my views because you are using my words in ways that are not a true reflection of me feelings (unintentionally). Don't take my responses personal. I just want people to know what I think on the issues. I do not want them to know what YOU think my views on the issues are. I won't post anything here anymore that I don't want to discuss. The last few days has done little for GADR readership, wasted both our time and unfortunately verified that you and I can't have an ongoing dialogue. Wayne

To: porcupine --''''> who wrote (1398)	3/2/1999 3:53:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

AT&T loses more top talent as business chief quits --'''':< By Jessica Hall NEW YORK, Feb 24 (Reuters) - AT&T Corp. on Wednesday lost another key executive as the head of its lucrative business services unit resigned to take the helm at Global Crossing Ltd. , a company building undersea and land-based fiber optic networks. Bob Annunziata resigned as president of AT&T's $22 billion business services division, which provides voice and data services to 8 million business customers, after just seven months on the job. He will be replaced by Mike Keith, who previously served as the unit's executive vice president. Annunziata returned to AT&T last July, after a 15-year hiatus, when the nation's No. 1 long-distance carrier bought the company he had founded, Teleport Communications Group, for about $12 billion. He had overseen AT&T's business unit since September. "Annunziata leaving is a blow to AT&T, who counted on his contribution and who needs entrepreneurial talent now more than ever as they struggle to reinvent themselves," said Jeffrey Kagan, an independent telecommunications analyst. Another analyst, who declined to be named, said that Annunziata's brash style may have clashed with the conservative and bureaucratic culture at AT&T. Annunziata began his career at AT&T and worked there for 17 years before leaving for Teleport in 1983. During his brief tenure with the business services division, the unit's revenues increased 4.7 percent in the second half of the year, slightly below expectations. The addition of Annunziata, known for an ability to turn telecom industry dark horses into Wall Street darlings, is a coup for Global Crossing, which will immediately gain more visibility with him as chief executive, analysts said. Shares of Global Crossing surged on the news, gaining $4.25 or almost 8 percent to $57.875. Shares of AT&T fell $1.31 to $84.56. Annunziata's departure from AT&T follows recent changes in some high-level management duties and adds to the long list of high-profile executives who have left over the past two years. Analysts expect more defections of marquee talent as AT&T completes its planned acquisition of the cable television company Tele-Communications Inc. and tries to transform itself from a stodgy phone company into a fast-moving telecommunications industry leader. "AT&T's bench is full of strength because of all the new talent coming in (from acquisitions). They all look around and realize there isn't enough room here for all of them to shine. I wouldn't be surprised to see more people leave," Kagan said. AT&T President John Zeglis, who oversees consumer long distance operations and international activities, has been rumored as one executive who may leave. Zeglis was once considered a possible successor to former AT&T Chairman Robert Allen, but he lost out when AT&T's directors opted instead to bring in C. Michael Armstrong from Hughes Electronics Corp. as Allen's heir. AT&T recently shuffled the duties of several top executives to prepare for its pending acquisition of TCI, with Armstrong taking more control over day-to-day operations and over TCI. As part of that move, TCI President Leo Hindery will oversee the broadband business and report directly to Armstrong, instead of Zeglis as originally planned. Some analysts viewed that move as a sign Zeglis may be edged out. Other key executives who have left AT&T include Gail McGovern, head of AT&T's consumer services unit, who left in August to join the mutual fund company Fidelity Investments. Then Jack McMaster, another top consumer unit executive, left just three months later to join Qwest Communications International Inc. . Jeffrey Weitzen, the former head of business markets division, left in Jan. 1998 to become president of Gateway 2000 Inc. Other famous AT&T alumni include former long distance chief, Joe Nacchio, who left to run Qwest, the No. 4 U.S. long distance company, and its former chief operating officer, Alex Mandl, who left to join upstart Teligent Inc. . (( Jessica Hall, New York newsroom 212-859-1729))

To: porcupine --''''> who wrote (1398)	3/2/1999 4:11:00 PM
From: porcupine --''''>	Respond to of 1722

IBM holds 7.2 pct of Prodigy after note conversion --'''':< WASHINGTON, Feb 24 (Reuters) - International Business Machines Corp. said Wednesday in a Securities and Exchange Commission filing that it held a 7.2 percent stake, or 4,536,778 common shares, of Prodigy Communications Corp. IBM spokesman John Bukovinsky said the Armonk, N.Y., computer maker's stake in Prodigy was the result of converting debentures it received as part of its deal to sell Prodigy to a Mexican-led investor group in 1996. Terms of that deal allowed IBM to convert the debentures it received into a stake of up to 7.5 percent in the company. Based on the valuation of the company around the time of Prodigy's public offering, IBM ended up receiving a 7.2 percent stake. Bukovinsky said IBM's stake occurred "automatically as a result of the conditions that were part of the sale." The spokesman said IBM had the option to convert its stake into cash or shares and elected to take Prodigy shares. IBM disclosed its stake in the White Plains, N.Y., Internet service provider in a 13G filing with the SEC. Those filings are usually made by institutions and large investors with passive investment objectives in a company. Unlike 13D filings, 13Gs do not include details such as when securities were bought or sold, or at what price. SEC spokesman John Heine said that any company or individual who acquires a passive stake in excess of 5 percent of the controlled, or holding, securities of a company must file a 13G within 45 days of the close of the calendar year. ((Peter Ramjug at Washington newsroom, phone: 202-898-8399 Fax: 202 347-3853, E-Mail peter.ramjug@reuters.com))