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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: LTK007 who wrote (13689)	12/15/2001 1:46:49 PM
From: t2	Read Replies (1) \| Respond to of 99280

Covad,you might want to watch this interview with it's CEO on Friday--they are emerging from bankruptcy with 300million cash,zero debt and a 20million cash burn-rate. Key is,any bottomless involved here??? They gave stock to pay 1.4billion debt.But also got 150million cash from SBC. That is very interesting. We have heard so much about the common stock being worthless on these heavily indebted companies. I guess now I know why a company's stock can trade for pennies. Always wondered why the stock would trade for anything given the priority given to debt holders of companies...Now I get a bit of idea why. Thanks for posting that story. Very interesting. Also wonder if this is the start of something in the sector; going to do some research on this.