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To: Earlie who wrote (46666)	6/23/1999 7:11:00 PM
From: Skeeter Bug	Read Replies (1) \| Respond to of 53903

anybody see $55 coming soon? ;^)

To: Earlie who wrote (46666)	6/23/1999 8:39:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 53903

Earlie, The good news on the debt front is that Ford Credit pulled their $10 billion offering. I think others will reduce them, for now, but the simple fact is, these guys need cash. Their businesses don't generate any and stock buybacks have eaten whatever cash stash they once had built. So, some like Ford may try to play it cute, but most have to take their piggies to market. I see the spread to Treasuries widening. And, worse for the cos., I think many will issue so much debt on so little in net income that their credit ratings will decline. Making larger spreads and higher costs they can ill afford. This is definitely a pain that will eventually get AG's attention, as these guys use some of their cash to fund political candidates.