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

To: manny t who wrote (90408)	7/2/2002 9:48:51 PM
From: Jdaasoc	Respond to of 99280

S&P called the IPO "an important step in strengthening Tyco's liquidity" but said the company still faces challenges in meeting an approximately $3 billion gap between expected available cash, including cash raised through the IPO, and obligations coming due in the next 18 months All stuff described in recent SEC filing and since they raised over $1 B less then they expected it will more asset sales at distressed pricing. Sometime soon the remaining debt service requirements will exceed potential earnings. No one is going to put up really crappy stocks when there is a whole universe of depressed stocks to pick from instead.