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To: SKIP PAUL who wrote (37190)1/27/1999 3:10:00 PM
From: GST  Respond to of 164684
 
Skip -- bingo, I agree completely. And well put (no pun intended).



To: SKIP PAUL who wrote (37190)1/27/1999 3:15:00 PM
From: Yojimbo  Read Replies (2) | Respond to of 164684
 
Effectively it is locked out of the capital markets.

not necessarily. a convertible offering could work: subordinate to existing debt, senior to equity. many debt investors must invest in debt-only instruments, and this would be a way for them to cowboy (i.e., they'd get to ride the "upside" in the stock).

y