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Technology Stocks : Globalstar Memorial Day Massacre
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To: Dennis Roth who wrote (521)5/27/2005 3:37:19 PM
From: Maurice Winn   of 543
 
I bought the senior notes with a view to them converting to shares in a reconstituted Globalstar, but sold them at about 9c a share when I finally accepted that even that was unlikely to happen and I'd be better to save a little bit of money and wait for round two, which seems likely to be coming up in 2006.

Fortunately for me, I didn't lose on the senior notes, luckily selling them for twice what I paid. Which was still trivial compared with my stupendously large losses on the shares.

I hope to be a shareholder in the constellation again one day. I already am, in a minor way, through my ownership of QUALCOMM which got some of the new company by debt conversion. I'm making money right now from the sale of handsets and other gadgets by QUALCOMM and the QCOM share of the profits from the constellation and terrestrial assets [GlobalstarUSA etc].

I don't give up easily.

Mqurice
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