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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting -- Ignore unavailable to you. Want to Upgrade?

To: Pierre who wrote (12473)	7/4/2001 1:38:25 PM
From: JGoren	Read Replies (1) \| Respond to of 197227

there can be many things hidden in the accounting, many bills and debts to be paid that were not apparent. it is entirely possible, and likely, that a thorough examination of the books revealed more problems. i think that partially explains the Qcom announcement. one thing you can always depend on, Qcom doesn't spout FUDD and doesn't lie. i think, aside from intransigence by creditors and perhaps other partners, Qcom was truly surprised when it opened the hood and looked closely.

To: Pierre who wrote (12473)	7/4/2001 3:06:57 PM
From: Jack Bridges	Respond to of 197227

Maurice's dream of G* 'Econ 101-priced-minutes' is coming true, and VOD is a big beneficiary. We should rejoice that the net effect is for VOD thus to become just a little bit pregnant with CDMA, like it or not. I still cannot figure out why VOD passed up the opportunity to dominate Europe for a song following the successful Newbury CDMA overlay trial years ago. They are still dominant, but seem to have wasted their deep-pocket ad vantage to such an extent that their shareholders (including many thousands of disillusioned employees) have been devastated

To: Pierre who wrote (12473)	7/5/2001 8:00:07 AM
From: Art Bechhoefer	Respond to of 197227

Pierre, the prospects for G* bondholders are not as grim as one might think. The bondholders get first crack at the assets, long before even the big equity holders. VOD, though it controls a vital part of G* services, cannot obstruct or diminsh the role of the bondholders. It is true that in a reorganization, the bondholders might receive other assets, such as preferred stock with a cumulative dividend (a dividend that is paid when cash flow permits, equal to the sum total of all the missed dividends in earlier periods). But the bondholders have one big trump card, exercised through the trustee for the bonds: The bondholder trustee determines whether the proposed reorganization is in the best interests of the bondholders, and nothing goes forward without the trustee's approval. I would look for a plan that pays bondholders roughly 70 cents on the dollar for the face value of the bonds, in the form of a new stock issue, which could be either common stock, or most likely a cumulative preferred issue. Art