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

To: David Sirk who wrote (616)	7/10/1999 2:31:00 PM
From: Mama Bear	Read Replies (1) \| Respond to of 1438

David, I am aware of only one, and one possible case where the floorless did not destroy the company. Even so, in both cases longs would have been well advised to have sold the stock and bought back at much lower prices after the bandits had their way. To me just the fact that a company chooses to engage this kind of financing shows that it is shaky. It is remotely possible that the situation could be win/win, but the odds are stacked against you. Barb