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To: GST who wrote (131973)9/27/2001 3:09:47 PM
From: Oeconomicus  Read Replies (1) | Respond to of 164684
 
GST, I didn't say it would work - just that the creditors might think it possible. Remember, they had to buy into the model to be willing to loan it money to begin with, though not to the degree of shareholders' required faith. Plus, people sometimes do stupid things when faced with near certain failure. ;-)

Bob



To: GST who wrote (131973)9/27/2001 8:26:30 PM
From: Glenn D. Rudolph  Respond to of 164684
 
What do you think of the logic behind trying to "reorganize" by going chapter 11 and giving everybody a few cents on the dollr as Bob suggests might be possible? BTW, I don't buy that, but I am open-minded and wondered if this sounds at all plausible.


I just do not see a reason for the common stock shareholder to receive anything. The debt is structured as a convertable to begin with. The people holding the bonds will not be in the mood to share.


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