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

To: Rocket Scientist who wrote (20672)	12/30/2000 10:07:46 AM
From: limtex	Read Replies (2) \| Respond to of 29987

RS - The Greatest Rip-off in History - GSM Roaming Charges - British based mobile customer...Current rates:_ While in the US:- Receieved from Britain - $2.52 per minute (plus 17%VAT) Made to Britain - $2.24 per minute (plus 17%VAT) Local call in Texas - $1.57 per minute (plus 17%VAT) While in Hong Kong Received from Britain - $2.52 per minnute(plus 17%VAT) Made to Britain from $1.08 per minute to $2.94 per minute While in Germany Received from Britain - $1.28 per minute (plus 17%VAT) Some businesses can reclaim the VAT. Now we know why Korean SPs want to be in the GSM game. This GSM business is the Worlds greatest ever robbery. G* doens't look so expensive now and presumably SPs aren't very interested in promoting it. Best regards, L

To: Rocket Scientist who wrote (20672)	12/30/2000 3:03:16 PM
From: thomas-archer	Respond to of 29987

Rock, i know it happens all the time for common stock, I think its any public securities, basically as a holder you have the right to challenge the valuation methodology and argue your case for fair value. Its generally a long and cumbersome process but it is out there if you think you are being bamboozled, they're generally known as appraisal rights. It doesn't put a hold on the process, it just lets a minority of people have their say. You usually never hear about this stuff,but i went pretty far down the road with HBJ+ years ago before I felt the risk was not worth it. I posted the indenture for one of the senior subs a couple of weeks ago. My read is simple majority. However to the extent a holder accumulates 25% of any one issue he can have a say and put stuff to vote. I don't see it as a real threat but out there. Someone could get Icahnesque (Reliance) and mess with the process a bit. Generally, my sense is that the preferred is not treated all that much better than the common but since Loral is, um, an interested party, in this case I see them doing perhaps a bit better. Don't forget those issues, the $750 face in total are about to receive a boatload of common in a couple of weeks so as time goes by a built-in premium is festering.