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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: Olsinvest who wrote (2137)	6/29/1999 2:03:00 PM
From: Bryan	Read Replies (2) \| Respond to of 2693

None of them have good things to say about IRID. It will take just shy of a miracle to turn them around. FROM: The Wall Street Transcript Publishes Satellite Communications Issue biz.yahoo.com The problems at Iridium have created an unfair malaise toward the sector, Coates declares, ''It's been more of an execution issue with Iridium (Nasdaq: IRID - news). It's problems that have been company-specific or outside of Iridium's control but specific to Iridium itself, namely the handset availability and getting service providers trained. And this has put pressure on the rest of the industry without regard for the underlying fundamental outlook.'' Liquidity concerns are plaguing the sector following the Iridium difficulties, Watts asserts, ''Iridium is going through a restructuring right now where we could see public investors diluted. Clearly, in the longer run there's the question of whether the equity gets wiped out or not. Just at the end of last week we had ICO (Nasdaq: ICOGF - news) unsuccessfully try to do a financing, so there are reports of that venture folding unless the strategic partners step up. And then Globalstar (Nasdaq: GSTRF - news) still has to raise $600 million by September in an environment where both of its competitors seem to be fouling the water.''