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Strategies & Market Trends : IPPs and Merchant Energy Co.s -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (166)	9/24/2002 8:06:41 AM
From: Larry S.	Read Replies (1) \| Respond to of 3358

But is it really? Are the dividends cumulative if omitted? If WMB files for BK, the shares, both common and preferred, likely will be worthless. I would think the bonds would be a better way to play these companies if one doesn't want to own common stock. Thanks for the idea though. It seems that we are heading for a climax soon, one way or the other, based on the California experience. EP got killed. WMB and DYN are guilty by association, if not fact. larry