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

To: pcstel who wrote (21690)	2/1/2001 2:49:59 AM
From: Pierre	Respond to of 29987

I'll give you 6 cents on the dollar.. Which is .01 better than you think you will get in a reorg.. Sorry, pcstel - they stay in my vengeful hands. It gives me a vote on reorganization and it's worth way more than a penny to me to have some say in whether BLS stays around. RS, I have enjoyed your posts which I have found consistently even handed and certainly the most "news filled" of anyone posting here. My thanks to you for that. As for my tirade against LOR, it's interesting how we each see the end game playing out, and of course champion our favorites. You've played LOR from the beginning. You've done better than G* holders, but none of us - whether LOR, G* equity holders nor G* creditors has fared very well. I disagree, of course, on your assessment of LOR's contributions. I don't know if you agree that BLS, whether through his own bad management or because the partnership was set up flawed from the beginning, has failed the partnership. He captained the ship, and it foundered. If he took LOR down in the process, well that doesn't add to his luster by any means. Put on a creditors hat and ask yourself who do you not want controlling G. Two quick answers, BLS and VOD. I'm not suggesting that LOR must lose equity stake entirely, though I wouldn't mind if they did. I recall much chest pounding emanating from the LOR board suggesting that LOR stock would soar if the G anchor were shed. So be it. It's about to be shed IMHO. I guess I've taken a gambler's view of this mess (easy to gamble with the pitifully small dollar stake I'm reduced to in this venture) and as I look around the table I see one strong hand, and one only. Money, technology, contacts and contracts. I'm not about to gamble another penny on the Abbott and Costello routine BLS and Chris Gent(sp?) have carried on so far. I doubt IJ is prepared to risk much more either. What a tragedy if Wingcast and IFN were dropped into the present management's lap. What then? Squabble about pricing? Worry about "use of the gateway" and how much VOD can gouge out of this new customer? Chris Gent refusing to answer his phone because he doesn't want to facilitate Sprint's deal with Ford? BLS may have had the vision, but he doesn't have the skills to manage the enterprise. VOD doesn't care and has too many conflicting agendas for my taste - LOR as well. So who's got the power? Probably the creditors. That leaves LOR, Q* and us senior (I guess you can call me signor creditor, now <g>) note holders, all in Para Parsu(sp?) I believe. Now pcstel is right when he says the note holders can't make a go of it alone. What do we need? Wingcast, high speed data capability, modems, IFN, ARNAV, SCADA. Q, and only Q, can deliver that. And that's the only way we recoup our loans. So if it gets to a creditors meeting, signor note holder votes for Q. LOR will too, as it has no choice. Too cash strapped to complain. In fact, it looks to me like BLS, based upon his recent speech, has already conceded the point. That's why it won't get to BK, IMHO. Nobody gets anything of value without the Q. Hence, the new venture will be Q* centric - BLS gone, LOR managing the sats, VOD doing whatever it is VOD does, but keeping those gateways open for business - the new Q* enabled business. All JMHO. I guess we'll see the whole thing play out soon enough, and that will put an end to all the speculation. It's just that all this talk of "no market" and "who has the power" I think misses the point. The creditors can and will force the issue, and it will be forced Q's way. That's why I converted my meager few dollars of equity to the quite handsome face value of those notes. Guess if I were really conservative, I'd just have bought more Q. Pierre