CDMA, Globalstar versus Iridium, Inmarsat, etc. Message Board

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Technology Stocks : CDMA, Globalstar versus Iridium, Inmarsat, etc.

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To: Richard F Uzelac who wrote (137)	6/11/1997 1:50:00 AM
From: Maurice Winn	of 381

Rick, normally I'd like rights - I took up the recent 1 for 8 that Globalstar issued at $26.50 pre-split. But once I run out of money, I don't mind backing a debt-funded company. They can normally borrow cheaper than I can and if the debt is not too high then the risk isn't too bad. But I agree, straight out equity is the way to go. However, with Globalstar, they are paying 10% for these "senior notes" which is way over my borrowing cost, so they should be issuing more shares - go to the shareholders first! If these notes are also convertible I'll be really brassed off! What you know seems to be okay! Maurice

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