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Technology Stocks : CDMA, Globalstar versus Iridium, Inmarsat, etc.
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To: lbs who wrote (296)9/17/1997 1:23:00 PM
From: Larry L   of 381
 
lbs
Somebody is a little bit testy. Yes I have heard about Motorola taking a hit for its share of the losses experienced by Iridium. However, these losses have been expected since the beginning. Globalstar is undergoing the same thing. Their losses are passed on in part to Loral in proportion to Loral's ownership share. Motorola's poor earnings predictions are due mostly to the write off of the division that was producing Apple clones. The only possible reasoning that I can come up with is that due to its lower cost Globalstar is
projecting negative earnings per share that are only about half those projected by Iridium. Therefore, the share price of Globalstar stays ahead of Iridium. I realize that logic is not very good but then the market is not very logical. The fact that Globalstar has split and has somewhat more than twice as many shares outstanding as Iridium, in addition to the fact that it costs about half that of Iridium sort of justifies this. However, I would think that the fact that Iridium is so far ahead at this point would be given some serious weight. Particularly, when considering that Globalstar has not even started their space segment.
Please excuse my obnoxiousness, I am a lone voice out here for Iridium
dealing with all of these deluded Globalstar supporters whos arguements frequently border on fantasy.
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