Replies to post #155 on Cit Grp. Pfd A (fka CIT-A)

[Joe Stocks]

The face value for the CITBQ preferreds is $25. 10% would be $2.50.

FWIW, LEAR just exited BK. In the reorganization proforma they estimated the new shares would come to market at about $35 a share. The 'when issued' shares closed Friday at $65. The bondholders made out very well.

Personally I bought their bonds at 25 (25 cents on the dollar) I sold them at 62 for a nice profit. Now I wish I would held some.