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JetBlue Airways Corporation Message Board

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  • frawdo frawdo Mar 11, 2005 9:13 AM Flag

    Hey shortnlong

    Notice I have not directed any posts to LLL of late, only to the board and you.
    You are right, I cannot convert any of my sep to roth with the income i am enjoying now, but the first year they created it , they gave a deal of spreading any conversion over five years on a tax treatment, and I arranged things, to make sure to be able to take advantage of it. Even then it was a partial conversion of the sep. My sep is still much larger than my roth.
    Re the convertible, they set the conversion price yesterday, 25 and change. Very telling. For thirty years the buyers get a cheap option that they get paid interest to hold. There are even provisions whereby they can force JBLU to pay back in full at certain interim dates if they get nervous about the way things are going. If the conversion price has been 35 or so, it would have been less diluting. But 25 and change! Quite a bit of dilution and capping of the stock price for the forseeable future. Very telling, because management essentially is paying the owners of the convertible to buy a 30 year leap call option of JBLU shares with at strike price of 25 and change. Why buy the stock?

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JBLU
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