Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 73.75

+4.9%

3:59 PM EST

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To: djane who wrote (5745)	7/15/1999 3:15:00 AM
From: djane	Read Replies (2) of 29987

3rd CNBC segment on I* on Business Center tonight. Similar to the prior segments except for the following info. Musey (BofA analyst) says, "The name Iridium makes a lot of people and investors skittish at this point." He believes I* can survive its current crisis. The key is whether creditors are willing to defer their debt repayments while I* improves its revenues by cutting costs and adding subscribers. Musey continues that if creditors push Iridium into bankruptcy, the phone company's future is bleak. If they can do this restructuring without putting I* into bankruptcy, it has a good shot. But, if it goes into bankruptcy, suddenly corporations won't want to sign up for an I* phone and Iridium won't be able to get good employees. And then it's a downward spiral from there. LeBeau says we'll know in the next 2-3 weeks if I* can restructure its debt. Next interest payment due in mid-August. The question is whether creditors are willing to give Iridium enough time to turn around its business.

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