Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 48.47

-5.2%

3:34 PM EST

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To: tb98 who wrote (23192)	5/7/2001 1:03:23 PM
From: Drew Williams	Read Replies (2) of 29986

This article raises more questions than it answers. <<A group of investors led by Qualcomm Inc. has agreed to throw a $500 million lifeline to the troubled Globalstar satellite-telephone project on condition that Globalstar wipe out its debts by filing for bankruptcy under Chapter 11 of U.S. bankruptcy laws, according to industry officials.>> Do Qualcomm and the others putting up this new money own all of Globalstar after the bankruptcy? Do existing bondholders and GSTRF owners get anything? Assuming the existing debt is wiped out in the bankruptcy, and assuming Qualcomm brings in completely new and competent management, is $500 million enough to build a viable business? What would that business look like? Is Wingcast part of that vision? Is it possible to take these in-orbit assets and build a profitable business at all, especially considering the conflicting agendas of the various companies controlling the ground stations?

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