Rodent Regatta

While they are radically different companies with big differences in customer count and contract types, Global Crossing’s downward trend ought to tell the bankruptcy court, creditors and WorldCom what to watch out for. While legal maneuvering has been going on, Global Crossing lost two thirds of its value. No doubt this says something about customers being willing to pay fees to get out of contracts early.
With WorldCom’s mounting woes, we could see that business valued at unbelievably low numbers in the next 6 to 12 months.

Global Crossing won a bankruptcy court’s approval to sell itself for $250 million to the same two Asian companies that tried to buy the fiber-optic… [Wall Street Journal]