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Old 05-18-2020, 10:57 AM   #50
classhandicapper
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Join Date: Mar 2005
Location: Queens, NY
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Quote:
Originally Posted by cj View Post
I love that, going to use it in the future.
I stole that from the telecom industry back in the 2000 bust on Wall St.

A lot of new telecom companies started up during that late 90s period. They weren't profitable, but the money kept rolling in from investors hoping to eventually make a score. When the bubble burst most them went into reorganization and handed the assets over to the bondholders. They continued operating, just without all the debt they accumulated. They were bad businesses, but because they had no debt they were able to cut prices and compete with the remaining good companies. The term "zombie" telecoms was born. The companies that should have been dead were eating market share from the good ones.
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