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Strategies & Market Trends : Making Money is Main Objective

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To: Softechie who wrote (573)	1/22/2001 7:02:35 PM
From: Londo	Read Replies (2) of 2155

What most people tend to forget is that common shareholders of FNV are probably going to get hosed.. Debtholders are first in line after the IRS when FNV does a wholesale liquidation in order to pay off those debts.. If Buffett pays 60-70 cents on the dollar for the bonds, and receives 80 cents on the liquidation of FNV, that's just good old fashioned arbitrage. BTW, common shareholders get nothing in that case scenario, which is what I'm projecting for FNV. A settlement with Calvin Klein does nothing to help the business; rather it does something to hinder it less. Sort of like saying that you got in a head-on collision with a Mack truck.. but fortunately, your seat belt was working when the truck hit. You still die anyway! (sorry for the morbidity, but its the only thing that came up to mind)

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