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

To: WR who wrote (10224)	2/22/2000 8:36:00 PM
From: WR	Respond to of 29987

Globalstar's Bernard Schwartz on Growth Plan: Company Comment By Tara Beecham New York, Feb. 22 (Bloomberg) -- Globalstar Telecommunications Ltd. Chairman and Chief Executive Bernard Schwartz spoke about the company's growth plan on financial news network CNBC. New York-based Loral Space & Communications Ltd., the No. 2 U.S. satellite company, owns 45-percent of Globalstar, a satellite telephone company. ``We're on a long-term plan ... and there are bound to be little bumps in the road. But, generally speaking, we are pretty much on the plan that we had hoped to be on at this stage.' ``We're trying to give as much information to the investment community as possible. Unfortunately, we have been in service only a matter of weeks. It is a very unstable beginning. The trend lines are up in terms of production.' ``By year end, we expect to have enough gateways and telephones out there to serve 120 countries around the world.' On Iridium LLC: ``The only similarity between Iridium and Globalstar was that we were both satellite based. Their market was different. We're on an entirely different model, and not only that, our system is much simpler, much less expensive and it works.' On pricing a secondary offering in January at $35: ``The vagaries of the marketplace is more than I can manage and, frankly, I'm very unhappy that we sold the stock at $35 and the stock is down today. It is not the history of myself or Loral over a long period of time. But, I think we are looking at a snapshot. I think long term, we're going to be able to perform to the satisfaction of the shareholders.' ``I've got a pretty good track record. I have been around for a very long time and I have disappointed very few people over a long period of time.' ``I have absolute confidence that we are positioned today to take advantage of the new technologies. And we have the financing in order to do that. And more than that, we have the human and the technical skills to do that, too.' (CNBC 2/22)