Winstar Comm. (WCII) Message Board

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Technology Stocks : Winstar Comm. (WCII)

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To: Jason Cogan who wrote (5677)	5/3/1998 12:01:00 AM
From: Steven Bowen	Read Replies (1) of 12468

"It will be difficult if not impossible for equity holders to take out cash flow from the company without first retiring the existing debt holders. New debt holders might replace them, which is another story. But one way or another, probably from cash flow, the existing debt holders will be paid first. This is why I say the first $2 billion of cash flow is already spoken for." Are you trying to say that when WinStar gets earnings positive, they couldn't pay dividends as long as they're in debt??? I suppose no company in debt pays dividends??? "priority on cash flow"?? Whats that supposed to mean? I suppose if Fords debt holders said they don't want Ford paying dividends anymore, Ford has to stop and give all their cash flow to the debt holders??? Sometimes you seem to not make much sense. And actually, as a shareholder, I don't want to take out any cash flow. I'll just settle for $200 per share, thank you. But I suppose it's illegal for a stock to go to $200 as long as they're in debt. PS Dang Kingpin, somebody's going to have to teach you how to fix those wide posts.

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