Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 60.75

-0.5%

Nov 28 9:30 AM EST

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To: Maurice Winn who wrote (6906)	8/27/1999 5:28:00 PM
From: Ruffian	Read Replies (2) of 29987

Doomed? ANALYSIS-Wireless phone growth doomed satellites biz.yahoo.com CHICAGO, Aug 27 (Reuters) - Satellite phone companies underestimated the rapid expansion of land-based wireless phone systems, and the error may prove to be fatal, analysts said on Friday, when the second satellite phone company in two weeks filed for bankruptcy protection. ICO Global Communications Ltd. (Nasdaq:ICOGF - news) filed for protection from its creditors under Chapter 11 of the U.S. bankruptcy code, one of its stakeholders said on Friday. Two weeks ago, Iridium LLC (Nasdaq:IRIQ - news), the satellite phone company bankrolled by Motorola Inc.(NYSE:MOT - news), filed for protection from its creditors under Chapter 11 of the U.S. Bankruptcy Code after it defaulted on more than $1.5 billion in loans. ''I'm not at all surprised,'' said Mark Roberts, telecommunications analyst with First Union, referring to ICO Global's Chapter 11 filing. ''The areas of the world that are not covered by wireless telecommunications are shrinking very rapidly, so the target market for satellites is shrinking.'' The idea of satellite phones fascinated investors at first. They envisioned globe-trotting executives shelling out big bucks to stay in touch with the home office. But by the time Iridium's system was operational late last year -- and before ICO Global started service -- cell towers were quickly popping up along highways and on top of buildings across the United States and around the world.

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