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

To: djane who wrote (7171)	9/2/1999 6:08:00 PM
From: djane	Respond to of 29987

Letter to thestreet.com. Globalstar: New Hope Herb Greenberg: Your column titled Why the ICO Bankruptcy May Not Be Good for Globalstar is not only wrong, it's bordering on fraudulent. He believes Globalstar (GSTRF:Nasdaq) will have to "raise more cash, and raise it sooner rather than later," and that "the capital markets are closed to the concept." Globalstar has had no problems in raising capital and in fact has a $500 million credit facility in place, which according to CEO Bernard Schwartz, is more than adequate to start service, including all promotion/advertising costs. -- Bill Simon (received 8/31)