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To: gzubeck who wrote (196960)	5/15/2006 9:59:40 PM
From: DRBES	Read Replies (1) \| Respond to of 275872

re: "somebody is getting screwed" uuuhhh...this is new?

To: gzubeck who wrote (196960)	5/15/2006 9:59:54 PM
From: Joe NYC	Read Replies (1) \| Respond to of 275872

gz, Ya know, I'm starting to believe that if a company goes BK and they decide to give all the assets to bondholders, the law should require that former shareholders should get at least 10% of the restructered company...sh*t why not have negligent managers spend away and burn through money and the bondholders come in and pick everything up cheap...License to steal if the intellectual property is worth hundreds of millions of dollars...somebody is getting screwed badly in this deal... Bondholders are getting screwed as well. Just not as badly. If the company has 300M in assets, 600M in liabilities, the bondholders, at best, end up with 50 cents on a dollar. And this is not even 50 cents in money. It is equity in a company that already wend BK once. Joe