Re: Getting together in Las Vegas, was: Re: Antitrust

From: Gordon Mohr (
Date: Wed Jan 03 2001 - 01:00:11 PST

Adam writes:
> I just want to say that all you motherFoRKers who don't have to work for
> a living are really starting to grate on those of us working 20-hour days. :)
> The Nasdaq's below 2300, get a job and start creating some real value
> for the economy, you slackers!

Hey! I *do* have to work for a living and I love what I'm working on,
but if it didn't leave time for any other goals, what's the point?

Methinks you need a nap, and probably a weekend trip to Vegas, lest
you spontaneously combust. :)

> Hey, speaking of actively destroying value, what does it mean when a
> company has a market cap of $64 million but $748 million in cash,
> investments, and restricted cash?
> > Rhythms NetConnections (RTHM: news, msgs) is falling 9 cents, or 11.5
> > percent, to 72 cents, after Moody's Investors Service cut its rating on
> > the Englewood, Colo., digital subscriber line firm's senior unsecured
> > debt to Caa1 from B3.

Wow, DSL firms all seem to be in a tailspin: Rhythms, Covad, Northpoint,
Flashcom, Digital Broadband. And, in a last-minute entry for "PR gaffe
of 2000", a Northpoint spokesman responding to customer service problems
told the NYTimes last week:

    "We don't have time to comment on individual cases like these.
    Our highest executives are just struggling to keep the company
    alive, that is their most important objective at this point."

> And from the "Too Little, Too Late" department...

Along the same lines, but for regulators rather than analysts:

   Hot IPO stocks at center of probe
   Three investment banks questioned about share allocation

The SEC is investigating whether brokers might have illegally allocated
hot IPO shares only to investors who promised to pay larger commissions or
make additional purchases later, as a kickback or price support.

Well, duh. So nice of the SEC to finally notice, now that there are no
hot IPOs left to speak of.

- Gordon

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