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To: Maurice Winn who wrote (13796)	6/22/2000 6:44:00 PM
From: akmike	Respond to of 29986

The simple fact that the bonds are priced the way they are shows how much of a stigma Iridium has put on the market for G*. The bonds are certainly not priced as if the holder wins from a bankruptcy. Go for the green, Maurice; you would have made a good caddy for Jean Vandewald. <gg>

To: Maurice Winn who wrote (13796)	6/22/2000 7:00:00 PM
From: nzlsixty	Respond to of 29986

How about this for a joke, what would this do to bond holders?http://www.schaeffersresearch.com/sentiment/observations.asp?ID=1737 John

To: Maurice Winn who wrote (13796)	6/23/2000 1:31:00 AM
From: Jon Koplik	Read Replies (3) \| Respond to of 29986

G* bonds @ 28 cents on the dollar is crazy (in my opinion). Short version of a long post I hope to write within the next day or two : One lesson learned from two long (and sometimes very boring) years spent (by me) attending what is considered to be one of this country's finest business schools : Fundamental concept underlying Corporation Finance theory : If a corporation's common stock is to have ANY value at all, then ... the bond obligations of that same corporation must be fulfilled as per the contractual terms set out when the bond(s) was/were issued. Translation : if GSTRF has any value, then the G* bonds should go to 100 cents on the dollar. I have bought a lot of G* bonds in the past few days. I'm gonna look real stupid or real smart in the year 2004 (or 2005) (G* bonds maturity date). Jon.