Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: TobagoJack who wrote (32666)	4/29/2003 10:45:28 PM
From: elmatador	Read Replies (1) of 74559

Another buying on the cheap: Wireless pioneer Craig McCaw, is taking control of satellite phone provider Globalstar in a $55 million deal. The deal, approved in Bankruptcy Court on Friday and announced Monday, gives McCaw's ICO Global Communications Ltd. a 54 percent stake in Globalstar, which burned through $4 billion before filing for Chapter 11 protection last year. The remaining 46 percent will be held by creditors, including Loral Space & Communications Ltd. and Qualcomm Inc Go to Article from The Los Angeles Times <http://www.latimes.com/business/la-fi-rup29.6apr29,1,2976570.story>

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