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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: wlheatmoon who wrote (3102)	1/5/2001 4:45:24 PM
From: hobo	Read Replies (1) \| Respond to of 33421

thanks.. and sorry for the confusion as to who initially brought it up. called my broker and he said: symbol is CD+I (this stands for "preferred i" --they also have a "preferred "g") they gave me the phone number (212) 413 1800 and a web site: cendant.com Preferred (prides) CD+i corporate-ir.net; Preferred Growth (CD+g) corporate-ir.net; and.... corporate-ir.net; interesting... thanks again.

To: wlheatmoon who wrote (3102)	1/10/2001 5:42:05 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Mike, a couple of us went through that info on the CD income shares. (the material on their web site that was referrenced in Toscano's post) Message 15133029 After the Feb 2001 dividend, the rate will be reset for the upcoming 2 years. The rate will be determined by CD at that time (I'd assume it will be much lower) there is also a 50$ fee to stay in the instrument. When the forward contract to buy the common occurs in 2003 It will convert in to 1.34 shares of common if the shares are under 37$ and change, So that's no great deal unless CD is trading above 28$. So I'm not so sure that the CD_I shares are such a good deal Read through their covenants and see what you think. I'll be really interested to see what type of dividend they establish for the following 2 years after next months payment. They issued both of those Growth and Income Prides back in 1998 when they needed cash for the CUC International acquistion. That of course was the one that lead to the accounting fraud and the stock blow up that CD is still trying to recover from. John