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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting
QCOM 179.02+3.7%Nov 5 3:59 PM EST
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To: pcstel who wrote (33921)4/5/2003 11:01:54 AM
From: Art Bechhoefer  Read Replies (1) of 196499
 
Initially what replaces the debt held by bondholders will probably be in the form of cumulative preferred stock, where the dividend is paid only after the new company has positive cash flow. That could be a few years away, and the preferred stock that is issued to replace the bonds will have little initial value. Later on, if the original bondholders are still hanging on to the preferred, they may get ten to 15 cents on the dollar for their initial investment, but it will take time. If the company becomes wildly successful, then we might recover our investment and possibly make a profit, but I'm not holding my breath.

Art
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