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

To: Sober who wrote (2221)	7/30/1999 12:46:00 AM
From: Marty Rubin	Read Replies (1) \| Respond to of 2693

sober, below $1 doesn't make sense. please provide link to story. i think mot can easily be sued as the company is not bankrupt (yet) and mot has lots of cash to attract class actions. it would be too cheap even with all of I* problems. what's the difference between well below one dollar and zero? they should go bankrupt instead. no, i don't think it's possible. in fact, it will sound as a big slap on execs when they keep talking of...(read back posts, wsj dj bloomberg and other service). i think it's a tactic since current big investors (rtn, fon, lmt...)will also share the near zero figure. marty

To: Sober who wrote (2221)	7/30/1999 12:43:00 PM
From: Bryan	Respond to of 2693

Are you a subscriber to the NewsBytes site? I read that article as well. Not too sure of the credibility of the sources, but the further dilution of the stock would support the decreasing share price. Unfortunately, there were not enough details in the article. I found this to be interesting though...... quote.bloomberg.com Corporate Bond Defaults Double in '99, to Peak by Year-End ____________________________________________________________ New York, July 29 (Bloomberg) - Corporate bond default rates doubled this year and are expected to peak by year-end in the wake of record sales of junk-rated bonds and lower commodity prices, say analysts at Donaldson, Lufkin & Jenrette Securities. Iridium's 14 percent notes due in 2005 are trading about 19 cents on the dollar, down almost 90 percent since February. bk