bad news if true, page-5

"according to a Goldman Sachs ... these convertible notes may be known as "exploding convertible notes"

Notice use of the words "may be".
Which of course means they dont know!
Perhaps they should read the release....

"Mr Groves said he had guaranteed to Morgan Stanley that earnings would hit those budgeted for the 2009 fiscal year, and faces a refund on part of the sale price if the company does not meet the targets."

So the convertible notes are conditional on the profit and not on the sp which is plainly not an exploding convertible note.

Typical of Goldman Sachs!