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Technology Stocks : Qualcomm Moderated Thread - please read rules before posting

QCOM 159.42

-1.2%

Jan 16 3:59 PM EST

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To: Peter Sherman who wrote (1)	6/27/2000 9:37:00 AM
From: Eric L	Read Replies (2) of 197283

Re: Globalstar "Financial Exposure" to Qualcomm Ed Snyder said: "Financial Exposure. As of March 26, 2000, Qualcomm had $621 million in receivables from Gloabalstar. In May, Qualcomm replaced a $100 million vendor financing commitment to Globalstar with a $500 commitment, of which $482 million was outstanding as of May 5. This implies a total financial exposure to Globalstar of approximately $1 billion" Steve Malsin asked on S&P 500: Snyder on Q!'s exposure to G*: do others arrive at $1 billion in the aggregate? I thought that the $500 million off vendor financing (that Snyder says represents an increase from $100 million), simply reflected the conversion of OUTSTANDING accounts receivable to vendor financing. Thus, this did not represent an increase in exposure but only a deferal of an existing liability. Would anyone care to comment on Steve's question? - Eric -

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