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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT
GSAT 63.49+5.2%Jan 27 3:59 PM EST
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To: Rocket Scientist who wrote (8544)12/4/1999 12:38:00 PM
From: Jim Parkinson  Read Replies (3) of 29987
 
Credibility may becoming an issue but lack of candor is definetely an issue. I never got a call back from IR yesterday. We will see on Monday. I did call the G* toll free # and was bounced around to 3 different execs none of which would tell me anything except that they are under very strict orders never to discuss anything with investors. That really is not unique to G*. No public company can allow their folks to do that but I thought I would try. I did ask the secretaries if they planned on being employed next year and they all sounded surprised by my question and said "sure". Big deal. I suspect I few Iridium secs all still employed. I tried to press by asking if this was really going to happen and again they were somewhat surprised and one did say "sure." Again, big deal. This lack of current information and silence is getting to me.

Having said that, I have to remind myself of something. I own restaurants one of which I financed with the help of about 15 limited partners. I send them a report about twice a year giving them an overview. I don't tell them about the server I caught stealing, that cost of sales exceeded budget for 3 periods before it was corrected, or all the other day-to-day challenges we face nor would I discuss this with them if they asked and I sure as hell would not take their advice on how to run the business. They have, however, doubled their money in five years and are on their way to making a tripple. Maybe our fate with G* will be similar.
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