Thomas: I will have to give you the award for "largest swings of emotion in a given time period".. At this point.. You're gonna be correct on the outcome! Because you have pretty much stated that your opinion on the outcome of Globalstar is "just about every conceivable concoction of an outcome!!..
In the last 4 months I have seen you go from "Yeah!! Bernie, commit another 500 million of Loral to G*". To a debt for equity swap.. Screw the Common. "Clean as a whistle! "ZIPPTY DO DA" Loral wins anyway, to your new view of "That was a good 5 months ago, just a little reminder of what a knock-down dragout this thing is gonna be once Blackstone emerges. This will go on forever, well what will seem like forever. My guess is well into 2002 before you know where G* is."
I will agree with you on one thing.. It isn't gonna be a "Clean as a Whistle" Debt-for-Equity Swap as you once postulated!!.. The shareholders are on the war-path.. If you screw them.. It all falls apart!! And then you are correct.. It will drag on for years.. Loral will be dragged into court, as will Qualcomm, when one of these "Knuckle-head Law Firms" finally reads an SEC statement and sees the "true" management structure of Globalstar. Remember, Motorola was no where in the Management Profile of Iridium (just an investor).. And they still got bagged!! With Qualcomm, they are definetly in the Management Profile.. No matter what Dr. J wants to tell you...
The most recent 10-K
sec.gov
"Globalstar was founded by Loral Space & Communications Ltd. ("Loral"), a Bermuda company, and QUALCOMM Incorporated ("Qualcomm"). Globalstar is a Delaware limited partnership whose managing general partner is Loral/QUALCOMM Satellite Services, L.P. ("LQSS"); the general partner of LQSS is Loral/QUALCOMM Partnership, L.P. ("LQP"), a Delaware limited partnership, the partners of which are subsidiaries of Loral and Qualcomm. The managing general partner of LQP is Loral General Partner, Inc., a subsidiary of Loral."
Of course Dr. J wants to help you put your "Jammies" on and tuck you in Bed. And say.. "We we're really just involved with the technology, not the management"..
Sorry, Dr. J.. WRONG-OOOO!!
So if this was gonna be a "simple Clean as a Whistle Debt for Equity Swap".. Where is the PLAN? It's been 6 weeks!! I mean... How, long would it take to put together a debt for equity swap? Two Weeks? Four Weeks?
WHERE IS THE PLAN?
PCSTEL |
