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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?


To: Bob Rudd who wrote (1824)5/27/1999 8:14:00 AM
From: CMon  Read Replies (1) | Respond to of 2693
 
Sorry, Bob. I just reread your post that I was responding to and saw that I misread "wouldn't" as "would." I can't see any reason why this company doesn't restrucutre and wipe out the equity. Some have speculated that the gateway operators that hold equity make it difficult for the creditors to force this, but I don't buy that. At best, that interesting twist puts one compromise between the current cap structure and the inevitable.