Fledermaus,
You said: "Before getting the money to pay the second system, you have to return the investment to the shareholders. The price to the customer will depend on when you want/need your investment returned.."
Sorry, that is simply not true. The price to the customer will be totally dependent on what the customer is prepared to pay. What you want/need is not really of much interest to buyers of products or services. Globalstar can't even set the price. The price is going to be what the market will bear, whether anyone understands that or not at this stage. Whether they get a return to shareholders will depend on how well they designed the system.
You said: "(I am talking about the owners of the system, not us the stock market investors)."
Usually, the shareholders are considered to be the owners. Of course, many managers try to steal the company from the shareholders, but that isn't what you meant. Stockmarket investors = shareholders = owners.
ON THE MARKET
You said: "Globalstar's price has gone up from 0,30-0,40 per minute(1994) to 1,5 per minute (1997)..."
Actually, the wholesale price hasn't changed. The $1.50 is what they guess subscribers might pay.
Then you said: "... and it will increase more, when they find out about all their real tail charges (which they must have by now)."
The tail charges were known years ago and will continue to drop as competition in tails increases and prices drop. A long way! There won't be any increases or decreases when they find out anything. The reality is set now! The design is done. The capital is committed. All that remains to find out is whether it actually works as designed and then what people will pay for the service. Which is an unknown quantity which will be discovered only when a subscriber pushes the SEND button. All else is educated conjecture.
Then you said: "Iridium was talking 3,00 per minute (1994) and now is talking from US$ 2 to 5 (1997 - Staiano's I think) , depending on the type of call. I think Globalstar will also start talking of a range of prices in 1998. And it is not going to be below 1 dollar."
Maybe it will and maybe it won't. I think the system when full will be worth well over $1 per minute to enough subscribers to keep it full. Hence I've bought heaps of shares.
Mqurice |
