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Technology Stocks : Loral Space & Communications
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To: Rocket Scientist who wrote (7442)3/8/2000 5:27:00 PM
From: JMD  Read Replies (2) of 10852
 
RS--at the Qualcomm shareholder's meeting yesterday, CFO Tony Thornley confirmed that the Q had/would provide G* vendor financing. He also said something about 'an additional $100MM' but my notes are not clear enough to confirm or make much sense of this add-on comment. No doubt whatever that he unequivocally said the financing was done.
CEO Irwin Jacobs also said that the Q had met their initial commitment to provide approx. 25-35,000 handsets and were ready to produce approx. 20,000/month 'right now'. (It was clear to anyone there with knowledge that this was in stark contrast to Ericsson). All top Q management had positive things to say about their 'hopes' for G* but it seemed obvious to me that they were, like all of us, disappointed at the slow ramp. Note: this last my subjective impression only. Dr. Jacobs did however go out of his way to say that G* had learned from the I* disaster and that G* call quality was outstanding. All in all, a very positive but slightly qualified endorsement. Regards, Mike Doyle
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