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

To: Freedom Fighter who wrote (567)	3/15/2002 1:18:58 AM
From: Maurice Winn	Respond to of 586

Thanks Wayne! It has worked out just fine. I got out with all bits and pieces intact. I didn't bother checking the priority of the bank loans over the Senior Notes, I just cut and ran. There was just too much I didn't know to justify owing a piece of the debt. Like IKM, I'm capable of a rush of blood to the brain, so I'm grateful to escape unscathed. I wonder if anyone knows the relative priorities of the debt. If one bunch of the debt is actually traded at 20c, I don't give a snowball's chance in hell for the debt which is trading at 4c. The 4c debt seems more likely to be mispriced than the 20c debt. As IKM says, the shares are toast if one level of debt is worth only 20c in the dollar and another lower-ranked multibillion dollar bunch of debt is only worth 4c in the dollar. That means shareholders can kiss it all goodbye. Maybe there's 1c a share or something, but I don't know why the creditors would want to leave anything for the shareholders when they are going to get near-zero [or zero] themselves if the 4c is correct. Mqurice