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Politics : Ask Michael Burke

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To: Pierre who wrote (57695)	4/27/1999 7:03:00 PM
From: Earlie	Read Replies (1) of 132070

Pierre: I will also be interested in MB's response to this one. I've been yapping about the Iridium situation for many months. My main worry was expressed as "SHOW ME THE CUSTOMERS", and yesterday's numbers sure provided evidence that I was on the right track. This stock has been more than kind to this bear cub. One never knows what MOT will do, but it is going to be expensive for sure. My guess is that they write off a bunch and take a powder. The Iridium shareholders have already taken it in the neck, but from my point of view, the stock is just entering my "mortally wounded" category which makes for low risk shorting. Lots of homework has to be done with respect to the activities of the debtholders, but usually, one gets several ways to play the emerging scene. Best, Earlie

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