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Technology Stocks : Wind River going up, up, up! -- Ignore unavailable to you. Want to Upgrade?

To: mac who wrote (8058)	7/11/2000 12:56:47 PM
From: Peter Church	Respond to of 10309

Mac: I hope Dick Kraber reads the article. It would be great to get rid of the convertible. "You see, the convertible owners and the common stock holders are at war, and you have sold out your common stock holders because you did not put in an anti-short provision for Sisyphean. (They wouldn't have done the offering if you had). Their whole point is to destroy your stock!!)" Cramer I've often wondered what was wrong with the stock. Maybe this is the problem. BTW: Short interent for June: 3,006,733 up 140,361 to 5% of float ---Peter

To: mac who wrote (8058)	7/11/2000 2:35:30 PM
From: Logain Ablar	Read Replies (2) \| Respond to of 10309

mac: The Cramer article tries to touch base on what is termed a floorless convertable. This is different from the WIND convertable bond. With a floorless the bondholder is able to reset the conversion amount if the stock price falls below a certain level. This gives the bondholders the incentive to short the stock and drive down the price. The tactic is only successful with companies in poor fundamental shape where the company can't obtain alternative financing. Now with WIND once the price rose above $32 the bondholders may have hedged their position but they have no incentive to drive the price down. Tim