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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (408301)	5/21/2003 5:26:01 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 769670

Buddy, You are failing to see the utter brilliance of PISS OFF, UNCLE SAMS. As I stated, they are non-voting preferreds and as such, the bamboozled common stockholder isn't going to feel or see any actual dilution of his ownership position. He'll own just as much voting stock as prior to the awards of the SAMS (alternately, Structural Appreciating Multi-Variate Securities). The trick (and there always is one with Wall Street) is that the common stock will no longer appreciate with an increase in the retained income and increased balance sheet assets that has been the regime with taxable dividends. Now corporations will feel compelled to squirt out as much of the cash as the corporation can afford to the preferred holders of PISS OFF, UNCLE SAMS, viewing the corporate treasury more or less as a bladder, or an udder, in the case of Nestle, Kraft and IBP. It's not dilution, it's distraction. It's de-licious. It's de-lightful. It's de-lovely!