Micheal,
First you say:
Dr. Irwin Jacobs, chairman of San Diego-based QUALCOMM (NASDAQ:QCOM), placed the call on a QUALCOMM Globalstar handset and reached Globalstar chairman and chief executive officer Bernard L. Schwartz in his New York office. "This is the first official call over the Globalstar satellite system," Mr. Jacobs said to Mr. Schwartz, "and if we stay on long enough well be able to test the satellites beam switching capability."
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Then your answer to my question:
Why do you think QCOM has been running and LOR has been stalling.
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Qualcomm is CDMA, (CDMA is 3G)the future of wireless Loral is just some rocket ship company :)
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Micheal,
I know that if you are an investor in QCOM, you must have known this:
edgar-online.com
As of June 30, 1999, Loral owned directly and indirectly 24.8 million
ordinary partnership interests (42.6%) of the total 58.2 million Globalstar ordinary partnership interests outstanding. During the first six months of 1999, Loral capitalized $16.3 million of interest on its investment in Globalstar.
Further along:
ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
On May 18, 1999, at the Company's Annual Meeting of Stockholders, the
following proposals were acted on:
(1) In an uncontested election, three nominees for the Board of Directors were elected to three year terms expiring in 2002. The votes were as follows:
FOR WITHHELD
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Bernard L. Schwartz................................. 209,225,848 1,313,034
Malvin A. Ruderman.................................. 209,234,953 1,303,929
E. Donald Shapiro................................... 209,215,897 1,322,985
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Were you not aware that Bernard Schwartz was the CEO of LOR and that LOR was a major investor in Globalstar?
techstocks.com
"Loral Space & Communications Ltd. and its subsidiaries ("Loral" or the "Company") is one of the world's leading satellite
communications companies, with substantial interests in both the manufacture and operation of geosynchronous ("GEO") and low-earth-orbit ("LEO") satellite systems. Advances in technology which have dramatically improved satellites' price/performance ratios and increasing demand for telecommunications services worldwide are accelerating the integration of space-based communications systems with terrestrial wireless and wireline communications networks. Loral
believes that it is well-positioned to capitalize on the numerous satellite communications service opportunities resulting from
this trend."
"Loral manages and will soon own 100% of Space Systems/Loral, Inc. ("SS/L"), one of the world's leading manufacturers of space systems. Loral also manages and is the largest equity owner of Globalstar, L.P. ("Globalstar"), which is building and preparing to launch and operate a constellation of LEO satellites expected to be placed in service in 1998 that will support digital telephone service to handheld and fixed terminals worldwide. Loral, together with partners, will act as the
Globalstar service provider in Canada, Brazil and Mexico and, with QUALCOMM Incorporated ("Qualcomm"), holds the exclusive right to provide in-flight phone service using Globalstar in the United States."
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Now Micheal,
I know you are an intelligent investor, would you care to retract your statement?
Loral is just some rocket ship company :)
Just wondering,
Phil |
