Globalstar Memorial Day Massacre Message Board

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Technology Stocks : Globalstar Memorial Day Massacre

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To: Jon Koplik who wrote (506)	10/29/2001 2:16:32 PM
From: Maurice Winn	Read Replies (2) of 543

<Qualcomm owns a minority stake in Globalstar, which spent $850 million building and launching its satellite system but has not yet turned a profit since the network began operating last year. Globalstar's system provides satellite telephone service, but it is expensive and customers have been scarce.> The system cost more like $4 billion to build. Globalstar service started in November 1999 [last century not last year]. But they got it right that it is expensive and has few customers. It amazes me that people have got so excited about the latest announcement. It doesn't seem that PCSTEL is right that they will fly the aircraft by remote control. It looks like just a communication channel back to base. Which is good and could also be used to provide voice and cyberspace services for passengers [though airlines believe in charging like Iridium to ensure almost nobody makes calls]. If I was the shorting kind, I'd be shorting the stock right now, at 80c, [perhaps sour grapes having eventually capitulated, sold at 29c, the bottom so far, and then bought the Senior Notes]. Mq

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