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Politics : Ask Michael Burke

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To: Skeeter Bug who wrote (80041)	4/25/2000 4:08:00 PM
From: echarite	Read Replies (2) of 132070

Skeets, found this little diddy last night in my "tax" file........."While Intel reports the potential liability for its warrants-currently $588 million-on its balance sheet,Microsoft does not, so some math is in order In notes to its financial statements, Microsoft said it had 75 MILLION put warrants outstanding on Sept. 30. They expire between March 1999 and September 2001 and have strike prices of $76 to $88 a share. Taking the average of the two prices, if the company had to buy back all the stock covered by these warrants, it would spend more than $6 billion..........[this is the best part] It is unlikely, of course that Microsoft's stock will drop from its current $113.625 to below $76 requiring all of the warrants to be exercised." I wonder what the put position is now that the stock is $69? I will bet you the CFO gets the margin call directly from the Chairman of the brokerage house. <g> Tks e P.S. I remember the flack Earlie got into with Gretchen's article.

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