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Technology Stocks : Leap Wireless International (LWIN) -- Ignore unavailable to you. Want to Upgrade?

To: Jon Koplik who wrote (2561)	11/11/2002 10:18:47 AM
From: Moez	Read Replies (1) \| Respond to of 2737

Buffet bought the bonds not the commons. Bonds in these co's might have some values, but once the banks, creditors and bond holders stake their claim, nothing left for the common's but the certificate. ...moez

To: Jon Koplik who wrote (2561)	11/11/2002 10:19:46 AM
From: Imran	Read Replies (1) \| Respond to of 2737

I agree with moez's view. Reasoning is the fact that LWIN has an unmanageable debt load. It will HAVE to restructure, whether in or out of CH11 protection. This restructuring will lead for a massive dilution of common shares. Shareholders are at the bottom of the barrel when claiming any stake in a firm's assets. Thus, all the network equipment manufacturers (LU, NT, ERICY) will get their share first as they hold debt, followed by banks, and then common shareholders will get anything that is left (if ther is any). Oh, there is also a pending de-listing. Did anyone forget the huge dilution that was created due to the MCC arbitration ruling? imran