Maurice, I couldn't agree with you more. Investartist's arguments sounded reasonable and nearly persuaded me, until I read your manifesto.
First, let me say that I think the most EGGREGIOUS and fundamental problem with G* is the lack of transparency. (ie. untruthfulness). Secrecy is for military operations, this is not a military campaign.
Gilder wrote a marvelous piece for the WSJ a few weeks back on this topic - that companies should reveal MORE, not less. Data should be forthcoming on a regular basis, daily if need be, so that the owners of the company (shareholders) can evaluate the company's progress in "real time." Let the knowledgeable owners decide what is relevant and important and what isn't.
Maurice, like you I have a lot invested in G*. I want the company to succeed wildly, and I believe in its product. But when I hear inane comments like: "Let them eat Wheaties" (my paraphrase) and "We can't release that information for 'competitive purposes'" I am GREATLY ALARMED and concerned....What is a rational person to do?
Why is everything such a secret? This is not healthy.
I hate to use an old cliche but I think it applies - it all comes down to trust. Trust is built upon truthfulness between parties. Without truthfulness, candor and transparency on the part of Bernie and company, we have a foundation made of mud. Do we trust Bernie and company to give us the straight scoop? Or will he dissemble and fudge the numbers to "cover up" any inefficiencies, delays and poor handset and MOU numbers?
As for me I feel that VERY soon actions will have to speak louder than the deafening SILENCE. If the numbers are less than expected, say so and do something about it!
Another concern I have is the seemingly fragmented sales approach. Globalstar as a whole is only as strong as its individual pieces - the SP's and distributors. I have wondered about the "wholesale" approach from the beginning and whether this is the best way to sell the service. Do you still believe it is?
I am in sales. And I know that a "hungry" salesman makes the best salesman. Is Loral hungry enough? (Afterall, they have other business segments to attend to).
Are the SP's really hungry enough to go 110% with Globalstar? My big question is simply: Is there ANY other way / distribution channel to sell Globlastar which would prove more effective than the present arrangement?
Is there a better sales/marketing model? Does the wholesale model make sense? Or would retail make more sense?
Let me know your thoughts...
Cheers,
Charlie R.
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