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Technology Stocks : Amazon.com, Inc. (AMZN) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (102329)	4/27/2000 11:20:00 PM
From: Bearded One	Read Replies (2) \| Respond to of 164684

Message 13516123

To: Glenn D. Rudolph who wrote (102329)	4/28/2000 9:31:00 AM
From: H James Morris	Read Replies (1) \| Respond to of 164684

Glenn, To this day, I still can't figure out who Morgan Stanley sold those Amzn junk bonds to! Buying tech stocks today!!! >In the end, stock investors may not care about any of this, but bond investors -- who have first claim on the company's assets -- do. Amazon's $2 billion in bonds, which have been a longtime thorn in the company's side, currently yield around 12.5% and trade at around 62 cents on the dollar, suggesting that bondholders remain concerned about Amazon's viability. "That's the same yield we're paying Colombia," cracks one short-seller. "And they're sufficiently concerned that they're paying twice the rate of Treasuries for first claim on the assets." That's because the bond investors are playing the last-man-standing defense, too. Only the last one left standing, they worry, will be them!