Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 50.66

+5.0%

3:42 PM EST

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To: eikos who wrote (22965)	4/6/2001 1:35:06 PM
From: pcstel	Read Replies (1) of 29986

Eikos: I don't think GLP will declare BK.. I think that the Bondholders will put them in BK.. That statement the other day about paying SS/L and QCOM without paying some kind of "in-kind" payment to the bondholders was the invitation.. I just don't see a scenario where as the Bondholders don't try and stop these payments being made!! In addition.. I almost think that BLS is applying the "scorched earth" principle... By dragging QCOM further into this mess.. I really don't think IJ and company have requested the 40 million dollars.. Because it would cause them much more than 40 million dollars in trouble IMO.. Loral.. now there is a major disappointment. I guess what Valueman says is true.. Don't own anything managed by BLS.. I really think that BLS believed that the airlines would be lining up at the door for IFN.. And I think that was his "Great White Hope".. He kept saying.."I think we will be able to show the light at the end of the tunnel by May".. Well, IFN has in affect folded.. Now mind you that IFN does not necessarily mean High Data Rate access from altitude is dead.. IFN was simply a "content provider".. It was part of the package... Globalstar, Rockwell Inflight Systems, and of course "content" to use on the system.. So it appears that IFN has thrown in the towel on the project. The Airlines want too much control over the content to IFN's liking IMO.. Loral is a very damaged company!! It is in affect... "Fighting for it's very life" IMO.. BLS and the BoD are squarely to blame.. They should all be jailed for "Gross Neglect of Fiduciary Duty." PCSTEL

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