Light Reading – The Global Site For Optical Networking
WASHINGTON, D.C. — With the Enron Corp. (NYSE: ENE – message board) scandal slapped on the front page of most major newspapers every day, the bankruptcy of Global Crossing Ltd. (NYSE: GX – message board), a large next-generation carrier, has ignited emotions in the telecom industry (see Global Crossing Falls Overboard ).
Just days after the filing was announced, attendees at the Comnet tradeshow in Washington expressed disgust but a lack of surprise at the news.
“It’s another Enron,” says Alex Jordan who was at the show representing his company, Advanced Research Diagnostic Systems. “They’re a fraud. They were spending money like drunken sailors without any purchase orders. It was mismanagement — period.”
My question is how many stock-market analysts GC had in its pocket, and how that number compares to Enron’s.