ubject: JPM Prefs Jeffrey JPM will likely call 1/4 of our $8MM JPM pfd positio=. Recall this was a fixed 7.90% coupon pfd that is now floating at Libor &=43; 347bps. The Xela bonds we bought at 102 are now 105. Will do=some more work on the Rackspace bonds as a replacement for the S2MM.<=o:p> Rich said