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To: JDN who wrote (11246)7/11/2002 10:50:18 AM
From: furrfu  Respond to of 11568
 
I'm not a banker, don't even play one on TV, but it does make all the sense to suspend the dividend. Quite prudent, at this juncture.
In the meantime, I think that establishing that 3-5 Billion credit would essentially dismiss any BK talk for the near term, and put a healthy kick in the pants of the stock price. Not getting it, otoh, is, I believe, already priced in.

Doug



To: JDN who wrote (11246)7/11/2002 2:05:54 PM
From: Charles Tutt  Read Replies (1) | Respond to of 11568
 
I had forgotten about your banking background. So how do you see this playing out? I imagine the banks will want a prepackaged bankruptcy filing that keeps current secured creditors whole, secures the unsecureds, and cuts out the equity holders.

I went through something like this with Just For Feet a while back. The shareholders were wiped away.

But that's JMHO. WDIK?

Charles Tutt (SM)


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