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dave_s

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dave_s

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Re: Joe Stocks post# 58450

Tuesday, 07/28/2009 1:25:29 PM

Tuesday, July 28, 2009 1:25:29 PM

Post# of 77463
I am not sure that I understand the price action. Reading the prospectus on CIT-Z over and over, it appears that they are virtually worthless if the stock stays arounf $1 or $2 until the mandatory conversion date of Nov 2010.

It seems to me that you have to pay $25. for .72 of a share worth almost nothing and hope that the company still has a treasury left to pay off $25. for the bond in 2015.
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