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This page contains all of the posts and discussion on MemeStreams referencing the following web page: checkmate?. You can find discussions on MemeStreams as you surf the web, even if you aren't a MemeStreams member, using the Threads Bookmarklet.

checkmate?
by w1ld at 5:12 pm EDT, Jul 10, 2002

Monday, super investor Warren Buffett ( news - web sites) jolted the nearly prostrate telecom industry by leading an investment of $500 million in Level 3 Communications. Telecom companies now are so reviled, and Buffett is so worshiped, the investment is like the prom queen deciding to dance with the greasy kid who broke both legs of the star quarterback by accidentally running him over in the school parking lot before the first game.

Beyond the surface, the potential intrigue could get fascinating. This is where the soap opera aspects come in. Buffett's investment could set in motion a complex web of relationships and -- if you play it all out in just the right way -- put Bill Gates ( news - web sites) in charge of every fiber-optic line in the USA.

This stuff is layered on top of Monday's congressional hearings, during which new WorldCom management threw tomatoes at old WorldCom management, which liked Level 3's founder and CEO, James Crowe, about as much as homeowners like termites.

Read the rest...great prediction


Yahoo! News - Friends-turned-foes complicate Buffett's foray into telecom
by Decius at 2:54 am EDT, Jul 11, 2002

"Buffett has known Crowe for a long time. They have mutual ties through Walter Scott, CEO of construction giant Peter Kiewit Sons'. Scott is the founding investor in Level 3. Scott and Buffett are Omaha billionaires, which is a small club, and longtime friends. Buffett's offices are on a floor of Kiewit's Omaha headquarters. When Level 3 started, it leased space there, too.

A few months ago, Crowe says, the three well-acquainted men -- Crowe, Scott and Buffett -- met to talk about opportunities in telecom. They figured there must be opportunities now that things are so bad that entire telecom companies will probably be sold on eBay."

A great article on the political intrigue behind Buffet's purchase of Level 3 stock.


checkmate?
by Reknamorken at 3:06 pm EDT, Jul 11, 2002

Monday, super investor Warren Buffett ( news - web sites) jolted the nearly prostrate telecom industry by leading an investment of $500 million in Level 3 Communications. Telecom companies now are so reviled, and Buffett is so worshiped, the investment is like the prom queen deciding to dance with the greasy kid who broke both legs of the star quarterback by accidentally running him over in the school parking lot before the first game.

Beyond the surface, the potential intrigue could get fascinating. This is where the soap opera aspects come in. Buffett's investment could set in motion a complex web of relationships and -- if you play it all out in just the right way -- put Bill Gates ( news - web sites) in charge of every fiber-optic line in the USA.


 
 
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