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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Pink who wrote (15347)	5/15/2001 7:30:25 PM
From: Ben Wa	Respond to of 18998

Message 15481156 Someday will I get a Pinkie award?

To: Mr. Pink who wrote (15347)	5/16/2001 12:54:14 PM
From: andrew krull	Respond to of 18998

Mr. P$nk, Any guidance on FLEX??

To: Mr. Pink who wrote (15347)	5/17/2001 10:29:05 AM
From: irkarki	Respond to of 18998

Mr. Pink have you had a chance to look @ Budget Group Bonds? Coupon 9.125% of 06. Price of $52 YTM of 26% CY 17.55% S&P B- Moody's Caa. Snap Shot BS as of 12/31/00 Tot Tangible Assets 3.8 bil. Tot Liab. 4.2 Bil. Shareholder Equity -400mil. (eliminated 800 mil. goodwill from 10k) If liquidation situation Sec. Creditor 1st 3 bill. thus 1.2 bil left. Senior bnds 400 million (these bnds) AP $ Sub. Debt 800 mil. Worst case they combine senior w/AP and Sub. Debt we get $.66 on the dollar or even worse long drawn out reorg where attorneys have a field day. Any thoughts or insight from your infinite wisdom. Irkarki