Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : CAWS - Wireless Cable (New and Improved) -- Ignore unavailable to you. Want to Upgrade?

To: VanGo101 who wrote (5417)	7/17/1998 10:11:00 AM
From: .com	Read Replies (2) \| Respond to of 5812

Van, You are right--the ammended plan, yet again, discards existing stockholders. But, it does not look like the creditors are willing to even accept this amended plan. If the company cannot dictate the terms of the Chapter 11 (like they were planning on, so they can keep their high salaried jobs with great perks, and get stock options in the new company to replace what they lost in the old company), then who determines them? The creditors? The judge? Hey Van, I am with you on this roadtrip to court. I assume that Van has a large van to pick-up everyone on the way!! Don't forget the lawsuit too. We'll get them on all fronts!!

To: VanGo101 who wrote (5417)	7/17/1998 4:50:00 PM
From: Zorro	Read Replies (1) \| Respond to of 5812

Van & Scott, There is nothing in the latest 8-K which accounts for the common shareholder. The amendments to the proposal still result in ZERO value to CAWS shares. Should the proposal not receive enough votes for approval, then it will be either 1) back to the drawing board or 2) Chapter 11/Chapter 7 filing. I believe a key question we must evaluate is: Will common shareholders have a greater chance of any recovery by challenging the reorg plan in court or by standing last in line during an asset liquidation? I am still very puzzled by the current market price of CAI's Senior Notes. I just confirmed a current bid price of 25/100. Obviously, not even the bond market believes that the holders of CAI's Senior Notes are getting a fair shake out of the proposed reorg plan. That would certainly explain why ML is backing out... Go figure, what's the use of owning 91% equity of the new CAI if you got the same team of clowns managing the company and milking it for every penny without any regard to its common shareholders? ML is not stupid. They probably see a greater chance of recovery in an asset liquidation. ML is in this strictly for the money. Let some other operator have fun developing the markets and the technology. Zorro (last in line)