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Technology Stocks : Covad Communications - COVD -- Ignore unavailable to you. Want to Upgrade?

To: Captain James T. Kirk who wrote (4082)	5/1/2001 2:48:36 PM
From: CChalmers	Read Replies (1) \| Respond to of 10485

No. Exactly what obligations Covad has to the bondholders would be spelled out the indenture. It is extremely unlikely that they have any obligation to meet or communicate with the bond holders, muchless some self appointed undefined group. They could not tell them anything we don't know without risk of violating reg FD. It would take a lot of research to determine whether Covad has a legal obligation, specifically to the bondholders, not to "waste" assets, any assets. Any argument that Covad is wasting the cash by spending it on filling up its net is born dead. It would be met by my argument that Covad would "waste" its network, infrastruture and its cash by not attempting to reach breakeven. Frankly, the bondholder statement in my opinion is frivolous, thought the intention and the timing are probably not frivolous.