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Strategies & Market Trends : Floorless Preferred Stock/Debenture -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (483)	6/17/1999 1:35:00 PM
From: Land Shark	Read Replies (1) \| Respond to of 1438

Finally got some shares short of TMSR. SS today @ $21 1/8. Let's see what happens.

To: Zeev Hed who wrote (483)	6/26/1999 12:08:00 PM
From: Timelord	Read Replies (1) \| Respond to of 1438

Zeev - Since I already have the list of links, I'll go ahead and update it with our compendium of floorless situations and post it here. It struck me that you spend an inordinate amount of time rehashing the same thing over and over again every time you issue a floorless warning, and I thought "a picture is worth a thousand words" might be a useful tool. Your faithful sidekick, Sancho <VBG>.

To: Zeev Hed who wrote (483)	6/26/1999 12:09:00 PM
From: Larry Brubaker	Read Replies (1) \| Respond to of 1438

Zeev, (responding here due to requests to take discussion off UOLP thread) yes Castle Creek has been a pretty benign "bandit" to VLNC...so far. But they were also the bandit that rode FIBR from $12 to $2. Do you think it is a coincidence that the short position on VLNC (1.2 million shares) is awfully close to Castle Creek's $7.5 million investment in floorless preferred at the ceiling price (1.2 million shares X $6 ceiling price = $7.2 million).?