Wind River going up, up, up! Message Board

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Technology Stocks : Wind River going up, up, up!

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To: James Connolly who wrote (9920)	12/5/2001 6:08:01 PM
From: Bill Fischofer	of 10309

Convertible means that it is a debt instrument (i.e., a bond) which can be converted into common stock. The terms of such conversion are stipulated in the prospectus. Subordinated means that it is less senior than other debt obligations of the company. Debt seniority is only relevant if the company cannot pay its obligations and is forced into reorganization and/or liquidation. Generally, the "pecking order" has bank debt at the top followed by bonds, other "subordinate" debt instruments, preferred stock, and common stock last in line.

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