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Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Snake who wrote (2047)	2/27/1998 10:50:00 AM
From: dougjn	Read Replies (2) \| Respond to of 10852

Re tax warnings in merger proxy. Haven't read the Orion document, but as a securities attny (among other things) a comment: tax warnings should be read with a grain of salt. They will strongly warn the case even if the corp tax lawyers (who are very cautious to begin with) really think there is only a say 10% chance that won't be tax free. As long as its not negligible. The key thing is to see what the company says it hopes or expects to be the case (so long as it has good lawyers as their tax counsel). The remainder remains some risk only, regardless of how long the language goes on. (And as a relatively small investor, the chances of your getting bitten if you treat it as company expects even if IRS reverses in company audit after the fact, are real low.) Doug