Part 11 (1/2)

”We'll just wait here on the line, Blair,” I said ”Thanks”

Aly, Scott came on the line within five an nonchalantly Noon, Scott was exactly the same He spoke in a monotone, dressed and acted conservatively, and never appeared to get excited when the stock was soaring or distressed when it wasn't He was as steady as Qwest's Joe Nacchio was volatile

”Just trying to get a read on your outlook for revenues and struggling with Jack's banter that it's going to be lower than you've indicated,” I said

”What do you mean?” asked Scott

”Come on, Scott,” I said ”You kno this works You, or perhaps Bernie, told the Salorow 135155 percent this year But then I' from some buy-siders that Jack cited a private conversation with you in which you endorsed the lower end of a 1315 percent range”

Scott denied it ”I haven't talked to him since his conference,” he said

”If you haven't talked to hiht now, your largest holders are believing hi far better information than the rest of us,” I continued, and then added for effect, ”Even those of us who have been bullish on your stock”

”I' you now,” Scott said, exasperated ”Why don't you pass this on to your clients?”

”It won't do ood, Scott You have created your ownto Jack

Scott denied it again

Photographic Insert

Author as college student studying Middle East politics: Here shown touring ruins of Troy (Ephesus, Turkey), Suhters in Potomac, MD, 1988: ”Ed took one look at the house and alht to co time,' he said”

Bert C Roberts, Chairer with British Telecoer ever at the time The deal fell apart but Bernie Ebbers of WorldCo Bert's and MCI's fate Noveht) and Ed Greenberg, Morgan Stanley's telecoan Stanley to shuttle us between s with European investors November 1988 Six an Stanley(Jim Hayter)

Author (left), Dan Akerson, MCI's CFO (middle), and Jim Hayter, MCI's Director of Investor Relations, in Zurich, Switzerland, taking a break between s with Swiss institutional investors November 1988 (Jian Stanley, CEO of CSFB and now CEO of Morgan Stanley ”Sure John,” I said ”How can I say no to an invitation from John Mack?” (AP/Wide World Photos) (AP/Wide World Photos)

Arthur Levitt, SEC Chairman 1993-2001 Levitt may have made speeches about analyst conflicts of interest but, on his watch, the SEC issued the ”No Action Letter” that propelled analyst conflicts to new heights (AP/Wide World Photos) (AP/Wide World Photos)

”The Siskel & Ebert of Teleco” The New York Times New York Tie article contrasting Jack Grubman's and my styles and opinions February 4, 1996 Sunday Money & Business section featured a front page article contrasting Jack Grubman's and my styles and opinions February 4, 1996(New York Tiold say they like each other You'd never know it frorenades they toss back and forth” ( (Mark Landler, New York Tielist for the Internet: Jim Crowe, CEO, Level 3 and (previously) CEO, Metropolitan Fiber Systems (MFS) Jim tried to turn et it” (AP/Wide World Photos) (AP/Wide World Photos)

A savior's arrival? Mike Ar Chairman and CEO October 20, 1997 savior's arrival? Mike Ar Chairman and CEO October 20, 1997(AP/Wide World Photos)

The SEC's ”No Action Letter” that propelled analyst conflicts to new heights October 24, 1997