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Technology Stocks : Loral Space & Communications

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To: Kenneth B. Thiel who wrote (10285)	11/8/2002 6:13:58 PM
From: Jim Parkinson	Read Replies (1) of 10852

I suspect RS took his lumps and has moved on. I agree with your assessment of 2004 and believe that Lor stands an excellent chance of being around then. As I said before, I think the risk of bk is now very low thanks to the cost cutting at ssl and the high margin fss business. As was mentioned in the cc, they don't have to launch Telstar 12 or 13 (can't remember the numbers) until market conditions warrant it. So they can hold on for quite some time. In the meantime they are going to continue working on the balance sheet which will probably result in some future dilution but well worth it if the debt is reduced. BS talked more about his Lor's commitment to regaining shareholder value in this cc than I have ever heard him before publically and I believe him. I have a couple of conversations with him over the last year where he has in essence said that is the sole reason he is hanging around and taking all this abuse so he has my vote. He is not going to sell us out for a song either. Yes, like many others, he made mistakes by agressively financing growth projects like G* (a huge mistake which may be mitigated somewhat if they can get 10% - 20% of Newco), Cyberstar, and others. He told me that Wall Street made the money to easy to get to everyone remotely tied to telecome and tech in the late 90's and now we are paying the price. We aren't the only NYSE company to become a penny stock meaning Lor wasn't the only guilty party. What is different now is that the build it and they will come mentality has been replaced by the we will build it when they come mentality, a much more realistic and pragmatic approach. Having said all this, I have given up hope for any significant short-term recovery although I do believe we will get north of a buck sometime before the May s/h mtg but think our chances of recovering are reasonably decent 2 - 5 years out.

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