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To: djane who wrote (5234)	6/18/1999 4:53:00 AM
From: Jon Koplik	Respond to of 29987

I posted some "let's sell Iridium" stuff over on the Qualcomm thread a little while ago. Now, I feel sort of bad; especially after reading those "bright-eyed and bushy tailed" comments from Mr. Walz of Iridium North America. But, I still have a feeling it is "dubious" for IRID common shareholders now. Here's that post : ***************************************** Subject: Qualcomm - Coming Into Buy Range To: marginmike From: Jon Koplik Jun 18 1999 12:47AM EST Reply #32572 of 32575 Off topic - our "patriotic" duty to help run Iridium stock into the ground. Since the stock can no longer be borrowed easily to be sold short (by mere mortals like us, anyway), I checked some options. Iridium July 7 1/2 calls closed around 1 3/8 bid. I don't think I can resist selling at least a few of these naked short tomorrow morning. I suspect IRID's share price is as high as it is because of the usual pre-reorganization "failure to grasp the situation" -- situation among retail investors buying IRID. If they want to take a shot on Iridium -- they should buy Iridium bonds, which will most probably turn into shares of IRID common stock and or warrants at some point, NOT buy the common stock. But, Wall Street makes it so incredibly difficult for small investors to buy most corporate bonds, that I can understand people just hoping the common stock is not TOO overpriced, and just buying it. The problem, of course, being -- the stock is probably way out of whack with the bonds in a potential reorganization ... Jon.