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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: patron_anejo_por_favor who wrote (202385)11/5/2002 12:00:11 PM
From: ild  Read Replies (2) of 436258
 
It looks like all and every company was selling naked puts. Well, it was "free money", wasn't it? -G-

Over the past two years, Household, one of the largest U.S. lenders to consumers with poor credit histories, agreed to buy tens of millions of its own shares by entering into a series of "forward purchase agreements." The contracts are essentially bets on the price of Household's shares. If Household loses on the current contracts -- and that appears increasingly likely -- it could be obligated to pay $259.7 million for 4.9 million shares currently valued at about $119 million.
online.wsj.com
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