Qwest Says Used Improper Accounting

Yahoo ^ | Sun Jul 28, 9:30 PM ET

[TenthAmendmentChampion]

I am tempted to change, too. We use "Qwest DSL" today (is it really MSN??) and pay $$$ to connect to the Internet via DSL, plus phone plus cable. We are probably among the minority here in AZ keeping Qwest alive. Their service was substandard as long as they were the monopoly phone company in Phoenix, but now that there are choices, it's just a matter of time until we change.

[wardaddy]

How big a sell-off are you "rooting" for and what are you shorting?

[Lunatic Fringe]

Well, I believe we'll see the bottom around 5500-6000. I'm not shorting anything, just looking for the bottom and then jump in.

[wardaddy]

If I felt the way you do, I would be shorting the indices big time. BTW, don't you think "rooting" for old folks to lose their 401Ks is a bit harsh. Are you really rooting or just expecting.?

[joyful1]

Folks, today is a pivotal day...If we rally, then the bottom is in. If we do down (I don't want to dwell on that)

[Oldeconomybuyer]

I wonder if OMB will ever restate Clintons "surplus"?

[dtel]

"Folks, today is a pivotal day...If we rally, then the bottom is in. If we do down (I don't want to dwell on that)"

I didn't realize it was all so crystal clear.
Care to share?

[2Trievers]

BTTT and FYI Sleavester &;-)

[Wyatt's Torch]

As of 7:44 a.m. S&P Futures up 11.80; NASDAQ 100 Futures up 14.00; DJIA Futures up 115.00.

Does not appear to be any big deal.

[dtel]

What we are witnessing is the very public rape of an old utility company.
All telecom deregulation did was allow the crooks to come in and steal all the assets of a solid company.
Qwest didn't have a pot to piss in and THEY acquire USWest?
When they are done USWest will get dumped on the side of the road, a quivering mess.
And now they want to do the same to electricity.
Got generators?

[varon]

.....i totally agree with your analysis. buy, buy, buy, buy!!!

(asking seriously with mischievous smile on face ) If now is the time to buy, buy, buy and the professionals are saying hold, hold, hold for the long run, then who is going to sell, sell, sell in order for someone to buy, buy, buy?

[Semi Civil Servant]

All telecom deregulation did was allow the crooks to come in and steal all the assets of a solid company. Qwest didn't have a pot to piss in and THEY acquire USWest? When they are done USWest will get dumped on the side of the road, a quivering mess.

This was a two step con. Deregulation only made the telecos vulnerable. All the dotcom funny money enabled the Chief Executive Grifters of the Tech Bubble to buy real assets such as US West (formerly Mountain Bell) and Time Warner. The Chief Executive Grifters were good enough for their little back alley Three Card Monty games, but they weren't ready for prime time.

As their nouveau empires unravel, the grifters are taking real assets down with them. The dotcom bubble is doing a lot of damage because the funny money bought its way into the "real" economy. This is far from over.

[dtel]

"This is far from over"

You got that right, as a matter of fact, it is just getting rolling good.
This is going to get effing ugly.

[Sci Fi Guy]

It sounds like the new Guy in Charge is cleaning house. I am so glad that Nacchio (the guy who ok'd the charges) is gone.

[jumpstartme]

The real deal will come after August 14th. It may even diffuse the October factor. We are considering purchasing stock around November.

I agree that the "real deal" will come after 8/14 when CEO's must sign off on their books.

I also believe that buying single stocks (any single stock) for the balance of this year is extremely risky.

Just this morning, the Financial Times published an article documenting debt among power companies and energy traders that could soon dwarf that of WorldCom & Enron combined. The total debt amassed by these firms is around $450 billion...The market has not adjusted for something like that.

The article goes on to say that much debt is recorded off balance sheets, so these disclosures will be shortly forthcoming.

Personally, I think such a massive fraud and debt load (reportedly being carried by Citigroup, JP Morgan, and a few others) will have a very negative impact on the markets and the banking sector. I don't think we've seen the bottom yet and November may be too soon.

[Vets_Husband_and_Wife]

Of course, nobody held the Clintoon's feet to the fire when he stated that the troops would only be in Bosnia until the next Christmas, which was four or five Chrismases ago and still no troop withdrawl!!!

The DemoCRAPS are brainwashed to believe lies, and NEVER follow up. They allow the media to think for them, and appear incapable of independent thought. So, if the liberal press didn't point out that our troops were never pulled out when Clinton said they would be, then the DemoCRAPies don't know.

We've pointed out to a multitude of people that Clinton lied about how long our troops would be in Bosnia. It's surprizing how many libs didn't know that... bizarre huh? So much for a responsible citizenry!!

[Vets_Husband_and_Wife]

Nice rally today. We will still hold off until after August 14th. Someone else here on FR said it best.. "if you wait, you may not get in on the *bottom* of a Bull, but if it is a true Bull, you will still do well". We will wait patiently.

[Vets_Husband_and_Wife]

#10 I'd say so too!!