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Strategies & Market Trends : Joe Copia's daytrades/investments and thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Rock_nj who wrote (7955)	9/17/1998 5:49:00 PM
From: tahoeman	Read Replies (2) \| Respond to of 25711

Interesting play with GBIT and IGHS going on.... Message 5778731 I called John Destler (listed at the bottom of the message). He and Bob Cook have put this deal together between these two companies. John noted that he and Bob are finalizing financing to eliminate the GBIT Convertible Preferreds which has held down the price (should be completed in about 2-3 weeks). John feels that there is a very large short position that will need to be covered once the Preferreds are taken back and the acquisition ties up the GBIT shares. GBIT also has had earnings of about .15 last quarter and is expected to have the same this quarter, announced in October. --tahoe