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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (36447)	1/14/2010 12:18:22 AM
From: Jurgis Bekepuris	Read Replies (1) of 78748

FR is playing a game. On one hand, they want to persuade the debt holders to tender early and cheap(ish), so they are making things sound bad by mentioning pref divvie suspension. On another hand, if they cannot persuade debt holders that things are bad and they don't get debt tendered, they MAY be forced to suspend the prefs. My guess would be that they get partial tender and they continue to pay prefs, but it might be smart to reevaluate (oversized) FR pref positions. If they suspend and prefs tank, it might be a great opportunity to load more. Have to be nimble, prepared and up-to-date with their latest financials to make decision as this unfolds. :) Good luck.

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