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

To: Rocket Scientist who wrote (10911)	3/17/2000 1:44:00 PM
From: A.L. Reagan	Read Replies (2) \| Respond to of 29987

Without [a competitor], G and its SPs will continue to act like time has no meaning* A reasonable assumption based on recent history. It's pathetic to think that our guys would probably do better battling it out in the marketplace than with a clear field. If G* continues to act like time has no meaning, sooner or later McCaw will eat our lunch. I vote for Maurice as COO and Mile High as SVP - Marketing. (BLS as "Chairman Emeritus" and "member of the executive committee".) Might use my LOR proxy to write in some alternate directors names as a protest against the current mossback collection.

To: Rocket Scientist who wrote (10911)	3/17/2000 4:35:00 PM
From: A.L. Reagan	Read Replies (2) \| Respond to of 29987

Fri, 17 Mar 2000, 4:20pm EST Iridium to Shut Down After Failing to Attract Sufficient Bid for Assets By Josh Fineman Iridium to Close Down After Failing to Get Bids on Assets New York, March 17 (Bloomberg) -- Iridium LLC, the operator of the first satellite-telephone service, said it will shut down after failing to attract a sufficient bid for the bankrupt company's assets. Judge Arthur Gonzalez of the U.S. Bankruptcy Court for the Southern District of New York didn't get any offers that met the financial criteria set by the court. Several potential bidders had expressed interest. Iridium filed for Chapter 11 bankruptcy protection in August after the $7 billion project failed to attract enough customers. Motorola Inc., the founder and largest shareholder of Iridium, is expected to begin shutting down Iridium's 66 satellites and liquidating the company's assets as early as today. The company estimated that it would take eight to nine months to deorbit the satellites. That would cost $30 million to $50 million, an attorney for Iridium said. Iridium has said its common shares and debt is likely worthless. The Washington-based company's 14 percent notes due in 2005 are trading at about 2 cents on the dollar, traders said. Shares of Iridium World Communications Ltd. fell 10 cents to 1 21/32 on Thursday, in trading on the ``pink sheets,' a list published daily that gives information on over-the-counter stock.