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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: CMon who wrote (5368)	6/25/1999 8:35:00 AM
From: Jon Koplik	Respond to of 29987

For what it is worth, I think both sides are correct on this. There is a lot of truth to the idea that it clearly is not "impossibly difficult" to secure financing when you have a "parent" entity like Loral hovering over you (and, that parent company (itself) is not yet leveraged to the point of uselessness). Yet, if Globalstar's parent had been really dumb, it is possible they would have waited too long (or some other stupid thing). Jon.

To: CMon who wrote (5368)	6/25/1999 8:40:00 AM
From: RMiethe	Read Replies (3) \| Respond to of 29987

You want the long and short of my answer to you CMon on my comment that this was a brilliant financial move by Schwartz? You could never have pulled it off. Sorry for being so blunt. But sometimes it gets the point across.

To: CMon who wrote (5368)	6/25/1999 6:04:00 PM
From: JMD	Respond to of 29987

Come on,CMon, Bernie's G* financing was 'brilliant' in the same sense that democracy is the best form of government: COMPARED TO THE ALTERNATIVES. It is beyond obvious that Iridium tossed a rather large turd in the satellite constellation financing punch bowl. The money boys were in no mood to part with capital after I* successfully vaporized 5 or 6 billion dollars worth of the stuff. It requires little or no imagination to envision their response to pleas for more: the terms would have been onerous or non-existent [as in: no dough at ANY price]. It was the onerous [read: DILUTION] part that had me worried big time. Bernie saved all shareholders from that fate for which we should be very appreciative in my opinion. Of course it would have been 'better' to get third party capital rather than raid the parent's cookie jar--but sometimes mom and dad are the only game in town. When times were good, Bernie pulled off the Soros deal which I still think was a master stroke. Financing, like politics, is the art of the possible, and in that respect I remain a raving fan of Mr. Schwartz. Kind regards, Mike Doyle