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

To: biostruggle who wrote (11835)	4/20/2000 5:58:00 PM
From: biostruggle	Respond to of 29987

Soros filed SC 13G/A today. You can get to it on freedgar.com. You search using company name "globalstar". GSTRF does not bring it up.

To: biostruggle who wrote (11835)	4/20/2000 5:59:00 PM
From: Rocket Scientist	Read Replies (1) \| Respond to of 29987

His 8.4M shares were practically 20% of the float; no wonder the price has been in a death spiral. He paid about 29$ each for these shares in 1998. Interesting to see what happens now that they've found a new home.

To: biostruggle who wrote (11835)	4/20/2000 8:01:00 PM
From: Jon Koplik	Read Replies (2) \| Respond to of 29987

Let's hope George Soros is as wrong on letting go of GSTRF as he was hanging on to all of those Russian T-bills ! Jon.

To: biostruggle who wrote (11835)	4/21/2000 8:40:00 PM
From: Jon Koplik	Read Replies (1) \| Respond to of 29987

WSJ article about George Soros dumping GSTRF shares. April 21, 2000 Soros Fund Sells Its 5.33% Stake In Globalstar Telecommunications An INTERACTIVE JOURNAL News Roundup WASHINGTON -- With the satellite-phone business adrift, billionaire financier George Soros has sold his stake in Globalstar Telecommunications Ltd., the public investment vehicle for the Globalstar project. Mr. Soros's hedge-fund group, Soros Fund Management LLC, sold its minority stake in Globalstar as of March 10, according to a filing Thursday with the Securities and Exchange Commission. Soros Fund Management owned about 5.1 million Globalstar common shares, or a 5.33% stake in the company, as of Feb. 10. Globalstar, based in San Jose, Calif., is a partnership of a host of telecommunications-service providers and equipment manufacturers including Qualcomm Inc., Alcatel SA and Vodafone AirTouch PLC. The company is led by founding partner Loral Space & Communications Ltd. Globalstar is trying to increase demand for satellite-based telephone services following the collapse of two much-publicized global-telephone projects. Globalstar officials in late March said that the company would slash prices for their phones and cut certain calling charges in a bid to win more customers. The marketing push came weeks after the company launched a major international advertising campaign and in the wake of the slower-than-expected rollout of its services in certain areas. The global-services project, which involves a fleet of 48 low-earth-orbiting satellites, is being closely watched by analysts and satellite-industry officials. ICO Global Communications Ltd. and Iridium LLC failed in their early phases. Iridium has ceased operations and is being liquidated, while ICO is trying to emerge from bankruptcy-court protection with a financial help from a group headed by cellular-phone pioneer Craig McCaw. With Iridium's failure, Globalstar agreed earlier this month to take over Iridium's 7,000 satellite-phone users in Brazil, which had more Iridium users than any country outside the U.S. In announcing the move, Globalstar executive consultant Gerry Cowan sought to assure investors that Globalstar's venture wouldn't follow Iridium's fiery lead, calling the project "well-funded" with "the right technology." Many analysts question how long Globalstar will remain viable, considering that even if it were to grab every one of Iridium's 55,000 subscribers, it may still never find enough customers to turn a profit. Two years ago, investors had high hopes that satellites were the ideal, lowest-cost way to meet robust demand for global-telephone services in the Third World -- and would later help satisfy the anticipated surging appetite for broadband telecommunications solutions connecting individual users to the Internet. But only direct-to-home video broadcasting has lived up to the optimistic billing. The competitive landscape has been changed by a series of rocket failures, steady expansion of cellular service, greater availability of fiber-optic lines and sharply lower telephone rates for consumers. Copyright ¸ 2000 Dow Jones & Company, Inc. All Rights Reserved.