Re: PF. I'm a holder too, fortunately not at the $100 issue price, but I'm still underwater. I figure IF the company does well (NOT at all a given), the PF will appreciate and I'm paid while I wait.
On the other hand, the 'mandatory' conversion provision makes me nervous, since the company WILL convert it to common in March 2014 - but at today's PF price of 62, the stock only needs to get to around $25 for that to break even.
Another snag is that the dividend is (apparently) reported as INTEREST, thus fully taxable.