Globalstar Telecommunications Limited GSAT Message Board

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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 56.80

+0.2%

Nov 21 9:30 AM EST

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To: djane who wrote (3342)	3/10/1999 3:13:00 AM
From: Maurice Winn	Read Replies (3) of 29987

ICO Bites the Dust Thank goodness for the mayhem in Iridium. Already one of the satellite voice systems has dropped out and Celestri folded into Teledesic. A second generation Iridium looks unlikely. Now ICO bankers are seeing the mess in the LEO business and getting cold feet. Wisely so too because they would not be able to compete with Globalstar and it will help my profit and prevent their capital losses if they cancel now. This is so cool! Thank goodness for Zenit crashing and Iridium crashing - it has taken all the heat out of the industry so we can calmly get our satellites into orbit and take the whole market for ourselves. [Well, it is maybe a little bit over the top to be grateful for Iridium crashing, but every cloud has a silver lining]. No more over-exuberance and 'profits for everyone' and heaps of market for everyone who could be bothered helping themselves to customers who would be facing a seller's market. Now it is a competitive market with huge overcapacity and competitive advantage is going to come to the fore immediately. It already has! Luckily, Globalstar has most of the competitive advantage. Sure, Iridium covers the poles, oceans and stuff right now whereas Globalstar will take a year or three to match Iridium coverage. Sure GEOs can do phone box calls for zilch price and undercut Globalstar [if you can be bothered talking then saying 'over']. These are nervous bankers - consider the ICO financing cancelled! ---------------------------------------------------------------- Even so, bankers are increasingly aware of the competition, not only from the other two global operators, but also from UMTS, and from regional satellite projects. Sources point out that when the three global projects were conceived the market was thought to be able to sustain them. But now the mobile operators have moved in fast, and UMTS could eventually offer global coverage (assuming roaming) with greater bandwidth capacity than the global satellite systems. ----------------------------------------------------------------- Maurice

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