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RE: Just keep telling yourself, "Worldcom won't fail, Worldcom won't fail"
What is the reasoning for thinking that WorldCom may fail? Is there something that I've missed? -----Original Message----- From: Fletcher E Kittredge [mailto:[email protected]] Sent: Monday, February 25, 2002 12:51 PM To: [email protected] Subject: Just keep telling yourself, "Worldcom won't fail, Worldcom won't fail" This is an interesting NYT article (free registration required) for all of those of us trying to convince themselves that even if Worldcom goes bankrupt, UUnet will stay up. The example used is Global Crossings. If a company has complex enough finances and gets deeply enough under water, the courts might not be able to figure it out and creditors may just liquidate... whether or not it makes sense for the customers and society as a whole. If the government is not willing to step in for Enron, would they step in for UUnet? http://www.nytimes.com/2002/02/25/technology/25GLOB.html By the way, I never said to Dan Hollis and others: "You were right; I was wrong." about Global Crossing. If one had listened to Dan, one would have known 12 months that Global Crossing was in trouble. I read their press releases and balance sheets and didn't see it... Mea Culpa. regards, fletcher