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Technology Stocks : Zenith - One and Only -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (6335)	10/5/1999 1:09:00 AM
From: FESHBACH_DISCIPLE	Read Replies (1) \| Respond to of 6570

What a crock.If you read the companys' response to these baseless allegations as filed with the court docket,you will see that all this is just complete nonsense.There is not a hoot in the world that this will be stalled. Fortunately in court you need proof,and what has been shown is being ripped to shreds. P.s Whay are bondholders not shrieking?? They filed a motion today in support of the plan as did citibank and a slew of others. Long live justice. your friend

To: MJ who wrote (6335)	10/6/1999 10:14:00 PM
From: Astro59	Read Replies (2) \| Respond to of 6570

While only a piece of the puzzle, it is an interesting one. As I asked in Post 6284, why did Zenith redeem all of its 8.5% Convertible bonds in 1997 at 104% of principal when they were trading at substantially less in the open market? The issue was a relatively small one (under $25 million), though publicly traded. I know because I considered buy this convertible as opposed to the 6.25% convertible. I made the wrong decision. Why it was called when the company was in "dire straits" made to sense to me and I therefore thought it was very suspicious. Were the holders in a position to ask some awkward questions, if they did not get paid in full? Who held the majority of these bonds? Why on the edge of bankruptcy did Zenith feel there was any particular advantage to redeeming this particular issuance of bonds? Did they have a priority claim on Zenith assets in a bankruptcy proceeding? It makes no sense. But often times things that make no sense are perfectly understandable if one knows the right questions to ask. How would one go about suggesting this is something Mr. Griesling might want to check into. Details of the redemption are from the 10-Q filed in Nov., 1997. "ZENITH ELECTRONICS CORP Form: 10-Q Filing Date: 11/12/97 * * * * * As a result of this new financing, the company has called for redemption on December 5, 1997, its 8.5 percent Senior Subordinated Convertible Debentures due November 2000. There is currently $23.8 million principal amount of such debentures outstanding and the redemption price of such debentures will be 104 percent of such principal amount plus accrued interest through the redemption date. The company also plans to call for redemption in January 1998 its 8.5 percent Senior Subordinated Convertible Debentures due January 2001. There is currently $0.5 million principal amount of such debentures outstanding. * * * * *"