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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (84802)	8/12/2007 9:59:52 AM
From: Lizzie Tudor	Read Replies (1) \| Respond to of 306849

did everybody see this on lend from 10pm friday? Accredited disputes Lone Star assertion NEW YORK, Aug 10 (Reuters) - Accredited Home Lenders Holding Co. (LEND.O: Quote, Profile, Research) said on Friday it believes all conditions to the closing of Lonestar's pending tender offer will be satisfied, disagreeing with a statement it said Lonestar's affiliates made on Aug. 10. Lonestar affiliates said in a filing with U.S. securities regulators that Accredited would fail to satisfy the conditions to closing Lonestar's tender offer, Accredited said. "Accredited... intends to hold Lone Star to its obligations and to hold it fully responsible for any damages caused by its failure to satisfy those obligations," Accredited said in a statement. Accredited shares rose 14 percent on Friday after the troubled subprime lender received regulatory approvals to move forward with the sale of the company to Lone Star. But shares were trading at less than half the price that Lone Star offered, representing investor fears that the deal will fall through or be renegotiated at a lower price.

To: Jim McMannis who wrote (84802)	8/12/2007 10:32:11 AM
From: ChanceIs	Read Replies (3) \| Respond to of 306849

>>>It took you a few posts but I'm glad you got up to speed on the LEND situation. <G> <<< Hey!!! I had a lot of stuff to do Friday PM, and I walked away from my trading sanctuary cursing and figuring that the LEND deal would go through - that the broad sector melt-down might be over. I am short a few Aug $10 calls and a boatload of Aug $12.50s. I was worried. I figured I would lose on the $10s but if lucky make it back on the $12.50s. On the PBS "Nightly Business Report," Paul Kangas related the upside move in LEND with the regulatory merger approval. Obviously they taped at 4:10 w/o knowing of the counter news. I have spent the freaking weekend worrying about LEND and how I would manage the situation. Imagine my joy this AM when I saw the wonderful late Friday news. Apologies to the board if this has already been discussed. I didn't see to much here - just assertions that LEND was history. It didn't make sense until I really started digging. Now my concern is whether I should sell more Aug calls, and whether they should be $7.50 or $10s. I don't think LEND will trade Monday morning. Maybe by noon. Maybe not all day. Another dead banker - what will the markets think?!?!?! LEND may even undo all the good efforts of the PPT.