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

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From: Adam Rifkin (
Date: Wed Jan 03 2001 - 00:03:36 PST

> I still don't have a legitimate business reason, but may go
> anyway, Thu/4th/eve-through-Mon/8th/morn.

> I'm planning to be there the 6th and 7th, probably.

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, 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. Moody's also cut its senior implied and issuer
> ratings on Rhythms to Caa1 from B3 and said its outlook at these new
> rating levels is negative. Besides Rhythms' recent warning about future
> results, Moody's said: "The downgrade also reflects Moody's concern that
> Rhythms lacks sufficient liquidity to sustain its capital needs in the
> intermediate term." On December 22, Rhythms said it had $748 million in
> cash, investments and restricted cash, enough to fund operations through
> the end of 2001.

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

> In a note Tuesday, Robertson Stephens analyst Dane Lewis downgraded the
> sector, blaming the slowdown in information technology spending, which
> is more pronounced than previously expected. Moreover, the near-term
> outlook is clouded by margin compression and lower valuation multiples.

What guts does it take to downgrade a sector already down more than 90%
in the composite? What does Dane Lewis do for an encore, beat up girl
scouts and steal their cookies?


Morpheus: The pill you took is part of a trace program. It's designed to disrupt your input/output carrier signal so we can pinpoint your location.

Neo: What does that mean?

Cypher: It means, buckle your seatbelt, Dorothy, because Kansas is about to go bye-bye.

-- The Matrix

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