McCaw Cellular Communications

Nobody had really imagined that there would be a golden age for bond investing, that rates would be brought down, that junk bonds would facilitate all manner of company formation.

We talk about cable TV.

We talk about all the different things, the airlines that were enabled.

Donald Trump himself was a user of junk bonds.

... outside of the pink sheets or Boca Raton, right?

Right, right.

And, and we t-totally take them for granted today, whether it's cable, cellular, long, you know, competitive long distance-

Here-

It's when some of the times when you're right there, when it's the, the most difficult, uh, times, you're right on the precipice of success.

You know, I worked with one of my clients, um, m- many years ago in the '90s, was a company called McCaw Cellular, and they sold to AT&T Wireless.

It was a company based here.

I'm in Seattle.

And one of the things that happened was they kept having to get additional funding to go buy wireless licenses, but they were on the verge of bankruptcy every single time, and they just kept going and kept going and kept going and kept...