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

To: djane who wrote (7306)	9/10/1999 9:54:00 AM
From: djane	Respond to of 29987

Bloomberg. Globalstar Satellites to Last Longer Than Expected (Update2) Top>Business & Finance>Investments>Sectors>Services>Communications Services>GSTRF (Globalstar Telecommun.) From Bloomberg by: corgini 11963 of 12001 Globalstar Satellites to Last Longer Than Expected (Update2) (Updates with closing share prices.) New York, Sept. 9 (Bloomberg) -- Globalstar Telecommunications Ltd., which plans to be the second satellite- based telephone network, said its satellites will probably last about 33 percent longer than the company originally forecast. Globalstar expects its satellites to last 10 years, compared to the seven-and-a-half years it predicted, Bernard Schwartz, chairman and chief executive of both Loral Space & Communications Ltd. and Globalstar, said to analysts at a closed meeting in California. Analysts reported it and the company confirmed the statement. Globalstar, which is 45 percent-owned by Loral, is aiming to be the first success in the developing satellite-telephone market. Rivals Iridium LLC and ICO Global Communications Ltd. filed for bankruptcy protection last month. ``It would be a positive development if the life of a constellation (of satellites) were depreciated over 10 years as opposed to seven because less costs would be depreciated each year,' said Michael French, a satellite-industry analyst at ING Furman Selz, who has a ``strong buy' rating on Globalstar. ``It's also beneficial because the constellation would need to be replaced at a later date, therefore allowing the company to save money.' New York-based Globalstar expects its satellites to last longer than anticipated because less fuel was used to launch its satellites than was forecast, Globalstar spokesman Mac Jeffery said. Satellite lifespans are determined by how much fuel remains after they reach orbit. Posted: 9/9/1999 7:58 pm EDT as a reply to: Msg 11962 by corgini