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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT
GSAT 62.88-0.5%Nov 14 9:30 AM EST
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To: Mr. Adrenaline who wrote (22293)3/2/2001 1:12:45 AM
From: Pierre  Read Replies (1) of 29987
 
Courtesy jimpiccard on the RB thread:

from the latest Space News:
As y'all know, Orbcomm sought Chapter 11 protection in Sept.; and last month announced plans to sell the entire business (all ground and flight segments)as a way to keep it going. Key points from the article:
--by putting aside its debt payments (kind of like G* is doing now?), Orbcomm has been able to find time to solve technical problems that had hurt revenue and frustrated customers. "We were able to debug our applications....our customer equipment is ready for prime time".
--Orbcomm is ready to catch up with demand for its service by installing units more rapidly than it has been able to until now.
--the company's service providers have remained in place despite Orbocmm's trouble's.
"I expect we'll be able to exceed expectations and exploit pent up demand".
--the CEO said the auction will probably not result in every Orbcomm creditor regaining every dollar it lent to the satellite company.
-- 'Robert Peck, an analyst at Bear Stearns, said bondholders are better off working with Orbcomm and the company's new owner rather than pushing too hard to foce Orbcomm to fully repay them. 'People have learned from Iridium,' which went bankrupt in 2000 and left many creditors out in the cold as it folded. 'If you foreclose and play hardwball with a company that has unique assetts, ' people who are owed money may wind up with nothing.'
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