Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (14157)	1/29/2002 11:10:00 AM
From: Anchan	Read Replies (1) of 74559

Good early morning (in Oz), Jay: this puzzles me about Global Crossing: "...Under the reorganisation plan, existing common equity and preferred shareholders will not get a stake in the restructured company. Global Crossing said its creditors would get a combination of cash, new debt and new equity. ..." Can it be? Does this mean, anybody who buys (like you are trying to) Global Crossing (GLBXQ on the pink sheets today) would lose their money because "existing ...shareholders will not get a stake in the restructured company"? Am I dense, or just a tired genius?

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