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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: Henry who wrote (2404)8/21/1999 5:22:00 AM
From: hl   of 2693
 
Anyone remembers last year's Zenith Electronic (ZE)?
Shareholders got Zero, all the assets went to the biggest stakeholder
Korean Goldstar Electronics (I was so lucky to get out 2 weeks before that happened). This MOT-IRID-relationship has the same bad smell for me. Shareholders should at least get somewhat back (make a 10:1 reverse split or something like that, but giving ZERO stinks!).
I'm really glad that I haven't a position in IRID. I was tempted to bargain hunt this stock two weeks ago, but I decided to play some internet stocks instead...Puh, that was a wise decision.
Anyway, I want to point out that all IRID individual shareholders have my symphathy...I know you can't buy yourself anything from that, but like you I really think this deal stinks a lot!

Greetings

Kai

P.S.: So far I only had 1 total, 100 % loss in my life:
Anyone remembers Yamaichi Securities from Japan? They went bust with 4 bill. $ bad debts in 97. So the good thing is that I still own 20 k shares of this company, the bad news is that they are worth nothing (there are no stock certificates issued so I can't even use my shares as toilet paper). Since then I don't own a single Asian stock, I always thought that such a mess can't happen in the US.
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