U R entirely welcome, Nick. Billing prgrmr, eh? Now there's an IMPORTANT JOB!!! I doubt very much her position would be compromised, since it is the backroom programmers that keep CSN humming and generating the healthy profits the last several qtrs!!! If she were a middle management admin assistant, then I'd be concerned for her. Messing with her and her equals would be the equivalent of killing the CSN golden goose!
Besides, as a shareholder and a tech-head, I can hardly wait for the day when cable becomes "interactive wireless" Then I can use DBS for my internet trading from the rolling luxury of my motorhome!!! Yes, her job and future is important to CSN OR CONVERGYS!!!! TRRRRUST ME!
In the case of Employee Stock Options, the way ATT and LUcent spin-off handled it if I remember correctly (go to the LUcent thread and back up to the part where a couple of LU employees came on the thread and explained the bene and how it was handled)...
anyhoo...
...all CSN stock AFTER the spin-off held by Convergys' employees would be converted to Convergys shares as part of the spin-off agreement, if they are to follow the LU spin-off example. And, that makes sense to me for this simple reason. Usually the "parent company" takes a dipsy do in price when the spin off is first implemented, i.e., when the market gets an idea of what the company thinks (with the help of their underwriters who are bringing out the new spun-off company's IPO)...
...what the company thinks the value of the new company's value/shr price plus the parent co's value/shr price is in current market terms.
CSN is being wise in doing this in stages, share price wise. By doing this "staggered" IPO (<---my phraseology), it gives CSN time a/w/a a chance to swoon and trade on its own fundamentals, and stabilize. It also gives the new Convergys shares a chance to take off on THEIR own merits and establish a value, which in my mind will take off due northward and not look back. FWIW, I'm not alone in this thinking. The early word circulating in the brokerage community according to my sources in that world, indicate that it is already considered to be THEEEE new hot IPO coming down the pike.
As Convergys appreciates in value, so will the 80% still maintained by CSN until it too is spun off to shareholders. That will boost CSN's "mother shares" appreciably and give everyone the smile-ies.
At least that is the way this one is structured.
Give my regards to your girlfriend, and tell her I, for one, appreciate the hard work she and others in the "backroom billing" have done to enhance shareholder value so far. And I'm sure, very pleasant rewards are just around the corner for her as an employee as well.
Better Watch Out, tho' Nick...
she may want a pre-nup if you don't marry her before all this hits :) :)
O/49r
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