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Technology Stocks : Micron Only Forum -- Ignore unavailable to you. Want to Upgrade?

To: John Graybill who wrote (45883)	5/19/1999 9:10:00 PM
From: phbolton	Respond to of 53903

John wrote: You don't get the interest, but you have to pay tax on it? Yow! That went into effect eons ago when "zeros" were first popular and (for a short while) could be used to defer tax until the bond was redeemed. Have to pay the tax on the implied interest.

To: John Graybill who wrote (45883)	5/19/1999 10:35:00 PM
From: Fabeyes	Respond to of 53903

In addition this year they have IT and Intl who can demand some kind of payment -- dangerous example

To: John Graybill who wrote (45883)	5/19/1999 10:40:00 PM
From: tom rusnak	Read Replies (1) \| Respond to of 53903

<<Interest on the Notes is payable on January 1 and July 1 of each year, commencing January 1, 1998. The Company has the right to defer payment of interest on the Notes at any time or from time to time for a period not exceeding 4 consecutive semi-annual interest payment periods>> John, my read is that since the first payment should have been 1/1/98 and they can defer 4 that takes them to 1/1/00. Micron does have to worry about a millenium bug! you concur or am i interpretting incorrectly? tom

To: John Graybill who wrote (45883)	5/19/1999 10:59:00 PM
From: Zeev Hed	Read Replies (1) \| Respond to of 53903

John, the strange thing with those convertible is that there is a pretty good chance that MU will find a way to get its stock above 87 or so for 20 days later this year (after the July dead line). Do not ask me how they will do it (it might be labelled "libelous" if I did), but the street will help (not lowering the rating but decimating the earnings expectations is one way). At least, the bond holders that decide not convert (if not called) can always short against the block if the price gets above the 130% of conversion. Zeev