RE: RE: RE: RE: RE: RE: RE: RE: The reason a prefe18tee,
Let's look at this from the other side shall we. What would be the reason to be in prreferred in the first place?
Dividends is one, but it doesn't apply with BNC.
Protection from bankruptcy is another. Back in 2004, this was an issue. Preferred get first kick at the assests so it provides some security for the investment.
This is 2010 and banckruptcy is no longer a realistic risk. So why remain in the preferred stock when you don't even get to vote? In my opinion this conversion is a good sign.
TC9