Just like you never want to hear a doctor say "oops" in the operating room, you never want to see a going-concern statement in a financial report about a company you own. Accountants throw these in when they've been over the books, talked to customers, and checked the horoscopes and have concluded there is "substantial doubt" about a company's ability to remain in business. In short, don't blame the accountants if the company files for bankruptcy protection.

You¿d reckon that a going-concern statement would be enough to send investors running to the exits, but it's not. True, many large institutions automatically bail when an existing company gets slapped with one of these, but many individuals (often wrongly) take a chance they know more than the bean counters.

During the tech boom of the late 1990s, many companies actually went public even though they had been hit with going-concern statements. Many of those companies subsequently disappeared. Enough said.

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Friday, September 05, 2008

Global Crossing Announces Conference Call for GCUK's Second Quarter Financial Results

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Comtex

LONDON, Sep 05, 2008 (PR Newswire Europe via COMTEX) ----Global Crossing (Nasdaq: GLBC) will conduct a conference call on Thursday, September 11, 2008 at 9:00 a.m. EDT/2:00 p.m. BST. Jean Mandeville, CFO and Anthony Christie, managing director for Global Crossing UK (GCUK) and Europe, will discuss GCUK's financial results for the second quarter of 2008.

The call may be accessed by dialing +1-212-231-2900 or +44(0)20-3300-0097. Callers are advised to dial in 15 minutes prior to the start time. The call will also be Webcast at http://investors.globalcrossing.com/results.cfm.

A replay of the call will be available on Thursday, September 11, 2008, beginning at 11:00 a.m. EDT/4:00 p.m. BST and will be accessible until Thursday, September 18, 2008 at 11:00 a.m. EDT/4:00 p.m. BST. To access the replay, dial +1-402-977-9140 or +1-800-633-8284 and enter reservation number 21392074. UK callers may access the replay by dialing +44(0)87-0000-3081 or (0)800-692-0831 and entering reservation number 21392074.

ABOUT GLOBAL CROSSING UK TELECOMMUNICATIONS LTD.

Global Crossing UK Telecommunications Ltd. provides a full range of managed telecommunications services in a secure environment ideally suited for IP-based business applications. The company provides managed voice, data, Internet and e-commerce solutions to a strong and established commercial customer base, including more than 100 UK government departments, as well as systems integrators, rail sector customers and major corporate clients. In addition, Global Crossing UK provides carrier services to national and international communications service providers.

ABOUT GLOBAL CROSSING

Global Crossing (Nasdaq: GLBC) provides telecommunications solutions over the world's first integrated global IP-based network. Its core network connects approximately 400 cities in more than 45 countries worldwide, and delivers services to approximately 690 cities in more than 60 countries and 6 continents around the globe. The company's global sales and support model matches the network footprint and, like the network, delivers a consistent customer experience worldwide.

Global Crossing IP services are global in scale, linking the world's enterprises, governments and carriers with customers, employees and partners worldwide in a secure environment that is ideally suited for IP-based business applications, allowing e-commerce to thrive. The company offers a full range of data, voice and security products to approximately 40 percent of the Fortune 500, as well as 700 carriers, mobile operators and ISPs. Its Professional Services and Managed Solutions provide VoIP, security and network consulting and management services to support its Global Crossing IP VPN service and Global Crossing VoIP services. Global Crossing was the first global communications provider with IPv6 natively deployed in both its private and public backbone networks.

Please visit www.globalcrossing.com or blogs.globalcrossing.com/ for more information about Global Crossing.

Press Contact Michael Schneider +1-973-937-0146
   Michael.Schneider@globalcrossing.com Analysts/Investors Contact Suzanne Lipton +1-800-836-0342 glbc@globalcrossing.com Gino
   Mathew United Kingdom +1-973-937-0133 gino.mathew@globalcrossing.com IR/PR1 Web site: http://www.globalcrossing.com http://investors.globalcrossing.com/results.cfm
   blogs.globalcrossing.com

Press Contact, Michael Schneider, +1-973-937-0146, Michael.Schneider@globalcrossing.com,
   Analysts/Investors Contact, Suzanne Lipton, +1-800-836-0342, glbc@globalcrossing.com, Gino Mathew, United Kingdom +1-973-937-0133,
   gino.mathew@globalcrossing.com, all for Global Crossing