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

To: slacker711 who wrote (7449)	9/18/1999 11:21:00 AM
From: gdichaz	Respond to of 29987

slacker711: My management style preference is that of Dr J of the Q. Brilliant scientist, open manager. Successful against the world. That said, Bernard Schwartz is himself. What you see is what you get. From observation, he is a brilliant financier who is a solo act but he is a successful solo act. The old Loral was a major success due by all accounts to his ability to handle multiple balls in the air without dropping them. Of course, he had only one customer - the government. Then he sold off most of the company at a huge profit and at an advanced chronological age has built not only Loral but Globalstar out of the remainder he kept. A virtuoso performance. His skill as a wheeler and dealer is ledgenary. His is smart. He is capable. If he has weaknesses, it is that he has never had to sell anything to the public and has never had any reason to pay the slightest bit of attention to his "stockholders". The structure of G* is symptomatic of all this. Partners by the bushel. Intricate wheels within wheels. And somehow (not accidental) his core company Loral keeps increasing its stake in G* up as close as practical to just under one half. All just my observation for afar as a stockholder and very interested reader. Chaz PS And his actions in relation to China and/or the democratic party - both separately and together - are fascinating in themselves. PPS This is such fun that it is almost worth following without being invested in either Loral or G*, but since I own some of both, I try to follow and am entertained (and frustrated sometimes) in that process.

To: slacker711 who wrote (7449)	9/18/1999 1:11:00 PM
From: Sawtooth	Respond to of 29987

<<I've been wondering this for a while....What exactly has Bernard Schwartz done to earn the reverence of this thread? I am completely unfamilair with his history...>> slacker711: I think you'll enjoy and find informative this feature story from the Nov. '97 issue of Red Herring. ...Tim redherring.com ...snip!...Mr. Schwartz was to the defense electronics industry what Craig McCaw was to cellular. Twenty years ago, he was a CPA in the insurance business who was recruited to resuscitate a $5 million company called Loral. Through a controversial acquisition strategy, he assembled the world's most valuable defense electronics company, which prospered even after the disintegration of the Soviet Union. Nevertheless, explains Mr. Schwartz, "we could see that defense was a static or declining business and decided to focus on satellites, which had no horizon for the foreseeable future." By the time he sold the defense portion of his business to Lockheed Martin in 1995, Mr. Schwartz had added shareholder value of $15 billion to Loral. And with 72 straight quarters of revenue and earnings growth and a compound annual growth rate of 20 percent over 20 years, he commanded Wall Street's respect....snip!...