Sachs: Wall Street Confidence Lacking


In a speech in Singapore Wednesday (Tuesday in the United States) National Cable & Telecommunications Association president Robert Sachs said he hopes cable stocks will rebound next year as companies begin to show positive cash flow.

Although Wall Street investors dragged down cable stocks along with technology and telecommunications issues, Sachs said cable stocks should recover in 2003 when capital spending slows and cash-flow levels start to move into positive territory.

"In the United States, the greatest challenge cable faces is to regain the confidence of Wall Street," Sachs told the Cable & Satellite Broadcasting Association of Asia.

In the speech, Sachs noted that his former employer, Continental Cablevision Inc., was an original investor last decade in Singapore's cable system -- a state-of-the-art, 806-megahertz facility that was one of the first to employ hybrid fiber-coaxial architecture.