"I would love to buy some bonds if I knew this was the case.. I am sure IR will not be too helpful. As usual"
You don't 'need' to know if this is the case. If you want to buy bonds, buy bonds based on what you know.
What you know is that there is zero bargaining power for renegotiated convenants should the January 15th payment not be made (I repeat "ZERO"), and the ball would certainly be out of G*'s court. This will just 'not' happen... the payment WILL be made. The published 'year-end' cash-on-hand estimates have been revised upward from $150M (B/Stearns prospectus) to over $200M (the SP offering). It is highly unlikely that with that type of cash balance, a payment due in 15 days would not be made. Highly unlikely.
I wish this board would stop playing into the media's hands. The media continues to throw the BK spin... you all are now biting the bait & will soon be reeled in. Do you go to other sites where links to this site are prominent? Do you understand that your apathy leaks throughout "IT"... and what is accomplished spreading apathy?
A great deal of information is held proprietary, and should remain so... especially in this day and age of aggressive, albeit not always ethical, competition. Efforts here to monitor phone/peripheral sales are probably the best guage of understanding public acceptance, but that same effort can not be made regarding large corporate/government contracts (which I think we all agree will be the 'meat' of usage).
Why even entertain the media's almighty "BK", its ramnifications, and how it will play out? It is NOT an inevitable event (as is the San Andreas fault), it is an event that is suggested because Globalstar is the last one standing in a field of fallen dreams. Can they make it work profitably? Yes. Will it take time? Yes. Does Wall Street expect more out of Globalstar than, let's say, Amazon (to which they applauded YEARS of loss)?
My calendar says that Globalstar (counting from the last two weeks of March) has been in service for a whopping 34 weeks. Tell the media to put their shovels away, and while your at it, put yours away.
If you want to buy the bonds with what you know, then buy the bonds. |
