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Politics : Ask Michael Burke

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To: Knighty Tin who wrote (83719)	9/23/2000 1:51:01 PM
From: JHP	Read Replies (1) of 132070

Michael re: FMO.....could you please comment on this post i copied fron yahoo:....is the bond a great deal? tia john Gio by: Arslanboy 9/23/00 11:14 am Msg: 6660 of 6660 Just be careful, I like Icahn, in that he can wake people up for value but he's no "Mr. Nice Guy". Julian Roberston who used to run Tiger Mgmt used to have a huge stake but I dont know if he still has it all or liquidated part of it when he closed out the hedge fund. It's been on my radar screen and I made a "hypotethical" buy in my head. Some of these liabilities they have are huge---they have some bonds trading too. One is a convertible that you may want to look at.... Here are some facts on it in case you are interested in pursuing that as an investment.. -It converts into .97087 shares -The bond comes due 12/1/2027 -Has a call date of 12/6/2000 -It closed at $12.902 -The div is $3.50 (issed at 7% at $50) -The have the provision to defer up to 20 quarters like TIMET -Yield to maturity is 27%---nice if they continue to pay the interest -S and P rates it as a "B" -Moody's B1 I dont know enough to know how senior or junior it is to other debt but as with most convertibles, it will be senior to the common and junior to the other outstanding debt like the case is with TIMET. Good Luck and I hope I could help.

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