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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Ian@SI who wrote (49688)	7/24/2001 12:40:54 PM
From: BWAC	Respond to of 70976

<NVLS must keep the funds in treasuries. NVLS keeps the interest. Principal is risk free for the first year for the bondholder. > Was this in the WSJ story or direct from the Convert SEC filing? Uhoh. Then I'd now say NVLS expects things to get much worse, at which time a year from now they can buy about anything they want with $800 Million cash plus interest. When are companies going to stop issuing these convertible notes that work directly against the shareholders in the near term? Is it going to take a high profile lawsuit? Or the implosion of the market due to excess shorting? NVLS handed the short sellers 25% of the company valuation apparently for some business purpose at least a year off. Insane if that s the case.