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Technology Stocks : VALENCE TECHNOLOGY (VLNC)
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To: John Curtis who wrote (19637)5/10/2000 5:16:00 PM
From: rich evans  Read Replies (1) of 27311
 
There is a lot being posted about Globalstar's difficulties and finances. Any ideas on how this is or could effect VLNC ? Here is a sample of the info.

To: sndiego who wrote (7862)
From: Bernard Levy Sunday, May 7, 2000 11:56 PM ET
Reply # of 7878

LOR trading below book value is easily justifiable:
a) When G* runs out of cash, it is likely Schwartz will
try to have LOR guarantee further loans to G* It is
not obvious he will be able to get away with it this
time.

b) The other parts of LOR also need financing. With G*
going bust, the terms of such financing are likely to
be unfavorable (dilution, etc...)

c) Markets are not totally rational. When G* goes bust,
Wall Street will treat all associated individuals and
entities like if they have leprosis. LOR can easily go
below $5 at that time.</s>

Rich
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