Art Bechhoefer, SI post Globalstar #5401 wrote: "I'm frankly surprized that a company official would talk about future earnings at an analyst conference (without issuing the same opinion as official company news in conformity with SEC reporting requirements.)"
Now I imagine that one is supposed to be just nice and kind when comments like the above, which show a complete lack of having read any of Globalstar's written reports and statements, appear on a public message board. For myself, I am getting increasingly disenchanted with the misinformation that appears on SI boards, as well as personal insults, which I thought SI was supposed to avoid. It does look like I was wrong on that, and that SI and Yahoo boards are rapidly becoming similar.
As for your comments, Bechhoefer, implying that Schwartz's vocal comments on Globalstar's earning at the DLJ conference violated SEC reporting requirements, it was known throughout the day by company advisos issued during the start of the conference that corporate comments at the DLJ conference were "forward-looking", covered by the SEC safe harbor provision. Further Globalstar's public FY 2002 number of subscribers and margins on the average wholesale rate of its satellites have been a matter of written public record since 1996.
I am waiting next to read that besides selling secrets to China, and now possibly violating SEC rules, that Bernard Schwartz has never run Loral or Globalstar, that it's all been an act.
I am getting increasingly convinced that this board is really not that different than the slop thrown on other internet boards, and that comments here should be read by company legal departments-- first "Rajala" and his wonderful comment about "brown" things, then "Cmon" and his misunderstanding of English grammar, and now this post #5401, namely that the Globalstar boss was tossing out earnings forecasts and doing so in possible violation of SEC rules. Great for potential shareholders of Globalstar to read.
As a fellow PM told me the other day, the internet boards are for short sellers.
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