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I am moving more into cash and away from eqities as retirement is imminent.

Am interested opinions about BankOne (ONE) stock as a virtual cash equivalent for a long term retirement holding. At present it is paying about a 6% dividend.

The company stock is really beaten up, but nowhere near anything like bankruptcy or insolvency, no really threatenting legal action, like MO.

Opinions sought. I am thinking of chuncking down a sigificant piece of my CD/MM cash to buy this stock. It looks to me like a great income source with significant upside potential if held into retirement. I am glad to get 6% from Money Market and CD funds.

What do you think?
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