Some posts from the AOL thread.
Message 6 of 50
Subject: Sold
Date: Fri, Apr 4, 2003 9:51 PM
From: BostonCoin
Message-id: <20030405005148.21473.00009271@mbs-r07.aol.com>
Loral has sold over 14 million shares of Siri since it acquired 58 million shares. Loral still has about 44 million shares. It seems as if Bernard Schwartz started selling the shares in the 40 cent range and has continued selling as the stock has risen to 70 cent range. With any luck and the price holding Loral can net about 30 million in cash which could retire about 150 million of the senior notes as they are trading at 20 cents on the dollar.
That would be a net profit of 120 million which would reduce the net equity from minus 354 million to minus 234 million.
They still have work to do to avoid a debt for equity swap.
Bernard Schwartz reminds me of a child. He whined that the market was not treating the company fairly. He said the company had an enterprise value (just one division) of 1.3 billion. Show me the money.
If he does a debt for equity swap I will file a shareholder suit for the lies. there have been two years of fairy tails.
Enough is enough. the 890 million dollar write down of good will was the last straw. The company has no good will with the shareholders.
Message 5 of 50
Subject: Re: Sold
Date: Sat, Apr 5, 2003 6:40 AM
From: CHo1012726
Message-id: <20030405094010.24505.00010265@mbs-m04.aol.com>
You are right but thats pennies compared to what the Loral shareholders are about to experience if the sweetheart deal with thermo is allowed to happen. Lorals % of Globalstar will be diluted by 67% and privatized. They drained Lorals capitalization in order to finance the deployment of the Globalstar system which was the Loral investor money and that drove shareholder equity to minus 354million dollars which is un-official bankruptcy.
I think most Loral shareholders invested in Loral stock because of their aspirations of cashing in on Globalstar because Q/LP claim of holding the spectrum license. Qualcom and Loral are not telecom companies. Globalstar is a telecom company.The FCC awarded spectrum license to telecom sat companies free.Spectrum license that other telecom companies paid billions of dollars for.
Those spectrum license belong to Globalstar and not to Q/LP. Will the FCC breach their fidiciary duty and allow the privatization of this valuable spectrum that is worth billions of dollars from the public domain to the private domain? They will if the Loral and G*LTD investors allow it by not contesting their fraudulent actions.
Thermos 55 million dollar investment would not even begin to cover the value of the intellectual property that belongs to Globalstar which was financed by the G*LTD and Loral shareholders. Now consider the value of the companys patents,its state of the art satellite system that is functioning virtually flawlessly, along with its spectrum licenses and the FAIR MARKET VALUE of Globalstar is worth billions of dollars.Far in excess of their stated liabilities.
They are manipulating the bankruptcy courts in order to defraud the G*LTD and Loral investors.Will the bankruptcy court violate their fidiciary duty and not protect the interest of the minority shareholders along with the creditors by not valuing the Globalstar assets at their fair market value? They will if the investor dont contest this sweetheart deal and demand the courts to act justly.
There is definitive proof that revenue was purposely depressed in order to justify driving G*LP into ch.11, bankruptcy for the purpose of defrauding the G*LTD and Loral investors and shifting the assets into private pockets.This constitutes the illegal conversion of assets. This is not only a tort and securities fraud but is theft which is a criminal act.
Will the U.S.Department of Justice breech their fidiciary duty to investigate and prosecute these criminal acts? They will if the investors fail to act and demand justice.
There is definitive proof that the bankruptcy courts are being manipulated in order to separated G*LTDsecurities from the assets they represent. There is proof that Lorals capitalization was drained and invested in G* which was then intentionally diluted and will be diluted even more if 67% of Lorals ownership is privatized.
There is definitive proof that Loral and G*s management have breech their fidiciary duties and are guilty of gross mismanagement,malfeasance,tort and criminal conspiricy and actions designed to defraud the Loral and G* investors by attempting to privatize their investment in this satellite system. Will the SEC breech their fidiciary duty by allowing this securities fraud to occur? They will if the Loral and G* investor fail to contest this securities fraud.
Loral and G*LTD have the right to demand that the U.S. BANKRUPTCY COURT, THE U.S.DEPART-MENT OF JUSTICE, THE FCC and THE SEC comply with their mandate and exercise their fidiciary duties.
Message 4 of 50
Subject: Re: Sold
Date: Sat, Apr 5, 2003 8:58 AM
From: GRAKENB
Message-id: <20030405115833.08840.00010092@mbs-m07.aol.com>
You may be interested in government treatment of Meritor Savings Bank formerely traded as MTOR. ( Philadelphia Savings Fund Society) .It seems too me there is a parallel with what G* can expect |
