About Murray Cass Expertise I am eager to help investors find their way through the muddle of tech investing. I can answer questions concerning tech investing, financial reports, stocks, and options. Having worked in the computer industry for over 20 years I have a good general knowledge of computer technology. I have read over 100 investment books -- mostly the old ones. I spend my time doing investment research, attending annual shareholder meetings, and managing portfolios.
Experience Professional Engineer, MBA, over 20 years experience in computer industry, 9 years intensive investing experience.
Expert: Murray Cass Date: 11/8/2002 Subject: XO Communications and Global Crossing
Question Hi, I thought I was gettig experienced until I lost almost all, like so many others did.
Question: I did not sell XO Communitions or Global Crossing. They are worth less than pennies. Global Crossig is in Chapter 11. Did or will I lose my shares of these two? They still show at the brokerage house I use.
Who knows, they might come back and I hope I would still have my shares???????????
Thanks. Gayle
Answer Hi Gayle,
At this point you just wait and see. I think XO is totally history but Global Crossing might still have a chance. I wouldn't bet on it though as they were terribly inbebted and all those bond holders have prior rights to the common shareholders like yourself.
Some times you win and ... well you know the rest. The key is to be very careful with companies that are heavily indebted. When business turns (and managers are usually the last to realize it can happen) they have very little room to manouever.
