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Technology Stocks : Global Crossing - GX (formerly GBLX) -- Ignore unavailable to you. Want to Upgrade?

To: Mama Bear who wrote (11297)	5/17/2001 1:28:56 PM
From: Ally	Read Replies (3) \| Respond to of 15615

Unbelievable! What a scam! Who are the bird brain CFOs that invented that mathematical idiocy? It's a certain death blow for any company! What foolery! No wonder it's not in text books, and never will. There is always one "should be criminal" scheme born every now and then, and this is clearly it. Cramer summed it up well when he wrote: "I would think that the issuers of these converts must be laughing themselves silly about how dumb corporate America is. I can see them smoking some Cubans and drinking Macallan 18 years old, neat, and cackling about how they fooled Toby Lenk or the folks at Log On or dozens of other players. Here's to you! You remind me of the scene in "The Godfather, Part II" with the corrupt Cubans passing around that gold telephone from United Tel and Tel! By the way, I expect nothing from the regulators on this protecting common stock holders. I know the NASD looked at it and did nothing. Oh well! Caveat emptor, boys!!" Anyone who bought common shares in a company that issued such floating rate preferreds should do himself/herself a favour and go back to school.