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Technology Stocks : Global Crossing - GX (formerly GBLX)
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To: barry fowler who wrote (3073)11/4/1999 11:52:00 AM
From: stilts  Read Replies (1) of 15615
 
Barry,
The convertible preferred pays preferred dividends while the holder waits for the common to appreciate, and, for whatever it may be worth (very little in my opinion), preferred stock would be ahead of the common in terms of rights to the assets of the company in a default situation. It return for that dividend and additional security, some investors would rather forego the profit resulting from the common appreciating from its current price to $45.

stilts
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