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Non-Tech : SME(svcdq) has it bottomed out yet? Or will it hit bottom?
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To: Georgeb who wrote (298)12/30/2000 4:05:37 PM
From: Arthur Tang  Read Replies (1) of 305
 
Bonds will not be paid off in cash. Chapter 11 has flexibility, but cash will be used for survival only. If cram down is inevitable then stockholders will lose first. Bond holders depend on whether they have seniority. The bondholders may get some new stocks.

What we hope for is for SVCDQ to stay in chapter 11 and get real operating profits first. Then if they recover some equity for the stockholders, every one may come out not whole but at least a percentage of previous investment.
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