Hoggydog, I believe the info you got regarding how the PP's are affected in the event of a R/S is incorrect. From everything I have seen and heard, the C shares (PPM) and the preferred B's are immune to R/S's. The common shares take the beating in the event of a R/S. I have no idea if one is on the way or not, but that's how it is set up. I'm sure someone will correct me if I'm wrong.