Lucent's hardware is not the problem here. I work in Lucent's Core Switching division (formerly Ascend Communications), where there hardware is designed, and we've had some interesing shouting matches with the people from MCI over this whole thing. The cards they sent us which they claimed had failed worked perfectly. Their network went down because they oversubscribed their lines and caused the software to crash.
Usually, when a company announces a bid to buy another company, their stock will drop. Then, once the bid is approved, their stock shoots back up. Also, the stock of the company being bid on usually goes up considerably. I work for Ascend Communications who recently got bought by Lucent for $20+ billion and that's how things worked out with our deal. Anyway, just about all the tech stocks took a big dive today so I'm sure some of the drop was due to the overall market and not just the bid for US West and Frontier.
> At any rate, in a purely financial sense, is it worth putting some money into Qwest at this point?
It looks like Qwest is planning something big here (I'd hope so since they're ready to shell out $55B), so I'd be willing to bet their stock will jump up pretty soon. With all the fiber they've been putting in the ground I'd keep my eye on Qwest in the hope that we'll all be getting some nice high-speed access soon!
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>Lucent owes an explanation of this one, and they've been mighty quiet.
They've been quiet because it's not their problem, this one's MCI's. Read my previous post.
Lucent's hardware is not the problem here. I work in Lucent's Core Switching division (formerly Ascend Communications), where there hardware is designed, and we've had some interesing shouting matches with the people from MCI over this whole thing. The cards they sent us which they claimed had failed worked perfectly. Their network went down because they oversubscribed their lines and caused the software to crash.
-NavisCore
Usually, when a company announces a bid to buy another company, their stock will drop. Then, once the bid is approved, their stock shoots back up. Also, the stock of the company being bid on usually goes up considerably. I work for Ascend Communications who recently got bought by Lucent for $20+ billion and that's how things worked out with our deal. Anyway, just about all the tech stocks took a big dive today so I'm sure some of the drop was due to the overall market and not just the bid for US West and Frontier.
> At any rate, in a purely financial sense, is it worth putting some money into Qwest at this point?
It looks like Qwest is planning something big here (I'd hope so since they're ready to shell out $55B), so I'd be willing to bet their stock will jump up pretty soon. With all the fiber they've been putting in the ground I'd keep my eye on Qwest in the hope that we'll all be getting some nice high-speed access soon!