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Non-Tech : Boston Market (BOSTQ) -- Ignore unavailable to you. Want to Upgrade?

To: IN_GOD_I_TRUST who wrote (1437)	9/24/1998 9:16:00 AM
From: paul goldstein	Respond to of 1567

STEVE, they should and probably will not go chapter 11. well, if they do, the stockholders get zero. the bond holders get all the stock . the bondholders are convertible and zero coupon issued, so we would still have boston chicken, stockholders would be the bond owners plus the normal debt holders. they would pay about 20 cents oon the dollar and the rest in boston stock. another alternative would be to lower the conversion on the 800 million convertible debt to , say three dollars and common stock for that debt. they would issue about 250 million shares for the conversion , and could pay, say two percent till they convert. the key is to comvert the debt without chapter 11 just a thought. have no idea how they will lower the debts