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RE: Just keep telling yourself, "Worldcom won't fail, Worldcom won't fail"

  • From: Jon Stanley
  • Date: Thu Feb 28 02:22:43 2002

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?

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