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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: RWS who wrote (11139)	12/17/2001 12:45:58 PM
From: jim_p	Read Replies (1) \| Respond to of 23153

RWS, I haven't followed them, but they have good management and are well thought of. Also have a low debt level and real assets? I shorted more CPN this morning at 13, and covered 1/2 at 12.50. I think it will be harder than CPN believes to go forward with over 10 billion in junk debt. My guess is they will not have access to capital, will not be able to grow due to higher cost of capital, and have a 50% chance of a CH-11. I do believe they have real value, but it most likely is less than book value going forward. JMHO, Jim