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Technology Stocks : GX Investors Thread -- Ignore unavailable to you. Want to Upgrade?

To: Freedom Fighter who wrote (564)	2/27/2002 4:49:39 AM
From: Maurice Winn	Respond to of 586

Hmmmm. Wayne, what you wrote makes sense, unfortunately. I had better put my thinking cap on [or dunce cap]. Mq

To: Freedom Fighter who wrote (564)	3/13/2002 12:47:03 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 586

Wayne, thanks! Today I bailed out of the Senior Notes for the same price I paid. I hadn't done my usual detailed scrutiny of the company and was buying on the premise that many people had scrutinized the assets, bought at all sorts of prices which were higher and since I had the lowest price, it should be a good deal. But I've now decided that wasn't a good enough reason since I wasn't in a position to be certain about your bank debt taking precedence and being valued at only 20c in the dollar. There is a LOT of debt apart from the Senior Notes and I presume that a lot of it is the bank debt you mentioned which is secured over particular assets. From the Hutchison offer, there won't be any money left for the Senior Note owners if the debt isn't ranked equally, which I'd apparently mistakenly presumed. Do you have some links to some facts on the bank debt versus the Senior notes and the ranking of each? Thanks again for your warning. Mqurice