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To: mishedlo who wrote (209521)	12/13/2002 3:54:50 PM
From: yard_man	Read Replies (1) \| Respond to of 436258

HD, S, COST, LOW, TGT ... get out the darts <g>

To: mishedlo who wrote (209521)	12/13/2002 4:29:50 PM
From: cfimx	Read Replies (1) \| Respond to of 436258

When these companies issued the converts, they thought their stocks would be going to da moon. So they could then convert this debt into equity and be rid of the interest payments. The problem now is that the stocks are down with no chance to convert the debt. These folks are now stuck paying the interest, and soon the principal, which is the big problem. Some of the bonds will be coming due soon and the companies never expected they would have to deal with how to pay the principal on these things.

To: mishedlo who wrote (209521)	12/13/2002 5:04:41 PM
From: yard_man	Read Replies (2) \| Respond to of 436258

we had number 1 today -- not something that happens often -- selloff in bonds wasn't spectacular, but ...let's see what Monday brings, eh? are you still net short?