What else is going wrong? More deception from Globalstar. Exerpts from revision estimates.
New York, Feb. 8 (Bloomberg) -- Globalstar Telecommunications Ltd., a satellite-telephone company, lowered its year-end subscriber estimate because of delays in the production of handsets, an analyst said.
The company revised its customer forecast to about 450,000 from 650,000, Banc of America's Armand Musey said in a report. Delayed production of some of its Ericsson AB handsets has contributed to the revisions, he said. Globalstar wasn't immediately available to comment.....``Due to the delays, Globalstar likely will have 80,000 handsets in the channel by the end of first quarter verses the 180,000 to 200,000 it previously expected,' said Musey
'Contributed' is the half-truth dishonesty here. They are trying to make the whole thing sound like a simple production delay on the part of Ericsson - NOT TRUE says the numbers.
If this were true, it would mean that Ericsson was supposed to produce 40,000 phones a month for the entire first quarter and instead has produced zero. I don't believe it.
Bernie was also quoted as saying Ericsson would make up the shortage by August. If so, why would we still be 150,000 short for the year. More lies. At 150,000 short by year end, Ericsson would have to be over 10,000 short every month for the rest of the year. So what is the truth? What other things unreported are contributing to this shortfall? I don't give a damn about Bernard Schwartz' past glories. I don't think a little honesty is too much to ask.
Regards, Dave |
