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

To: dumbmoney who wrote (1874)	5/30/1999 12:34:00 PM
From: Marty Rubin	Read Replies (1) \| Respond to of 2693

dumbmoney, my understanding is that the 27K was the magic figure. the rest were minor to keep creditors happy. i'm very happy that "creditors would still be in control." irid sure doesn't seem to know how to run their business. not many of them have a stake in the company (shares) so the creditors should work harder (incentive). it would be hard to understand how "the banks are guaranteed to get at least 30% back no matter what" when the bonds were trading at $.18/$1.00 (please double-check this figure. i did not check the actual price but overheard this figure. it later moved up). marty