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To: golfinvestor who wrote (85156)	10/30/2000 2:32:23 PM
From: foundation	Read Replies (1) \| Respond to of 152472

"Meanwhile, a report that its chief financial backer, Loral Space & Communications Ltd. (NYSE:LOR - news), would provide it no further financial support.." ---------- Not that it matters, but this isn't accurate. All that matters is what they report....

To: golfinvestor who wrote (85156)	10/30/2000 3:01:50 PM
From: golfinvestor	Read Replies (1) \| Respond to of 152472

Globalstar reels towards ground zero But investors try not to let stock free fall bring 'em down By Shawn Langlois, CBS.MarketWatch.com Last Update: 2:48 PM ET Oct 30, 2000 NewsWatch Latest headlines SAN FRANCISCO (CBS.MW) - Maybe they were thinking about what to wear for Halloween ... or perhaps the damage had already been done. Whatever the reason, Globalstar Telecommunication shareholders could hardly muster much of reaction in the wake of their beleaguered stock's earnings-induced 55 percent plunge. See full story. With shares of Globalstar (GSTRF: news, msgs) inching dangerously close to Nasdaq oblivion, posters reluctantly filled up the message boards in search of any bullish crumbs on which to hang their hopes. "This company certainly tries the patience and faith. Given the good the technology and the long term potential are we facing another Betamax?" NormanH on Silicon Investor On Raging Bull, Kevanhan was at a loss: "This does not make sense to me as well. But perhaps we have been looking at things through rose-colored glasses. Maybe the sign that the partner did not ante up big support money was a sign! Perhaps this Bear Stern stock sell off was a sign! I do not know except for me this is the absolute worse possible outcome. Perhaps, as some of the so-called shorts said, we fell in love with the technology." And The Motley Fool's RTVandelay felt the sting as well: "What about IFN? What about all the potential through the Ford (F: news, msgs) -Qualcomm (QCOM: news, msgs) deal? What about all the deals that have been announced in the last few months and the continued progress of the rollout? I can't help but feel I've been taken for a ride on this one. Obviously the kind of promise we were hoping for is not there, or the insiders wouldn't be withholding future funding. My investment in GSTRF has all but disappeared. I hate Mondays." As these disgruntled rants caught momentum, ElenaMurooni did her best to instill some sort of bullish enthusiasm: "C'mon ... you have to be realistic ... this is a system that is data capable, voice capable, and creates a highly efficient link between GEO's and ground. It works flawlessly, has 9 years life, and is a viable asset. The question remains: What Happens Now? And frankly, dear heart, you DON'T have a crystal ball." Yet, amid all the serious banter, a few resilient investors, like GrayterFooel, tried to keep their sense of humor: "You'd think that someone just discovered that Globalstar SAT's contain genetically modified corn. Or, that someone at the G* technical control accidentally pushed the 'De-orbit all spacecraft' button..." And, in a response that smacked of short selling, BernWa added: "Back up? George Burns has a better chance of getting back up. The only spike you will see is short covering." Despite the fact that GSTRF bounced significantly off its lows of the day, the tone on the boards remained fairly constant throughout the trading session. What was once a home for exchanging thoughts on a company destined for greatness has apparently turned into a platform for yet another group of spurned investors.

To: golfinvestor who wrote (85156)	10/30/2000 6:23:07 PM
From: Jacob Snyder	Read Replies (1) \| Respond to of 152472

October 30, 2000 Globalstar Posts Surprisingly Big Loss Amid Disappointing Subscriber Growth A WSJ.COM News Roundup SAN JOSE, Calif. -- Globalstar Telecommunications LP reported a bigger-than-expected loss for the third quarter amid "unacceptably slow" subscriber growth and said it would cut prices and expand coverage to lure new satellite-phone users.In afternoon trading Monday, already battered shares of Globalstar tumbled $3.44, or 57%, to $2.56 on the Nasdaq Stock Market. The stock slid past its previous 52-week low of $5.50, set Oct. 17. The struggling satellite-phone concern reported a net loss of $211.2 million, or $1 a diluted share, compared with $41 million, or 20 cents a share, a year earlier. Analysts had expected a loss of 90 cents a share, according to First Call/Thomson Financial. Revenue came to $1.2 million in the third quarter. Globalstar, which launched services last fall, didn't report any revenue for the year-earlier period. It posted revenue of $708,000 for the second quarter. Globalstar said the rate of subscriber and usage growth at the company is steady, but "unacceptably slow." To try to lure subscribers, the company said it is expanding coverage and introducing new price offers, among other marketing initiatives. The company said earlier efforts were aimed at signing up consumers, but it now will focus on winning big industrial and government accounts. During the third quarter, the company said it recorded 2.3 million minutes of mobile and fixed billable service, double its second-quarter usage. Globalstar said the estimated number of mobile subscribers was 21,300, nearly double the subscriber count at the end of the second quarter. Meanwhile, Globalstar said it is in the process of raising additional funds through a $105 million share-repurchase agreement with Bear Stearns Cos. Globalstar said it had $286 million in cash as of Sept. 30, which is sufficient to fund the company through May 2001. But Loral Space & Communications Ltd., which owns 40% of Globalstar, plans to cut off additional funding for the satellite-telephone project. Loral's move to publicly distance itself from Globalstar and curtail its support sounds another death knell for low-orbit satellite phone projects, a segment in which two other prominent ventures already have collapsed. Loral, New York, already has invested more than $1 billion in the $4.3 billion Globalstar venture, and before the end of the year plans to assume $500 million in Globalstar debt. Weakened by losses from the Globalstar venture, Loral is mulling the possibility of a combination with another company, the sale of a major equity stake or other alliance to raise its sagging share price. Globalstar's other partners include telecommunications service providers and equipment manufacturers such as Qualcomm Inc. and Vodafone Group PLC.