Harken Energy Corporation (HEC) Message Board

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Gold/Mining/Energy : Harken Energy Corporation (HEC)

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To: Thomas M. who wrote (3157)	7/8/1998 9:41:00 AM
From: Zeev Hed	Read Replies (1) of 5504

Thomas, I think everyone should read the Hayes story. It is very typical, the CEO and CFO assumed that the stock will go up, but the weight of shorting brought it to its knees. The story is repeated with all floorless I have seen. By the way, both AIPN and RNTK have covenant that prohibit any arbitrage related transactions (shorting against the block) with the floorless securities. Yet both are down sharply from the time these were issued. Somehow, the floorless find ways around this covenant (through off shore accounts and shaddy brokerage houses). In the case of AIPN, it is the Hunts that are carrying the floorless flag. Zeev Zeev

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