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

To: pcstel who wrote (22568)	3/17/2001 10:36:45 AM
From: pcstel	Read Replies (1) \| Respond to of 29987

Business for the Ambulance Chasers must be slow.. Exactly how many time do these guys Shalov Stone & Bonner want to file against GLP?? Feb. 28th biz.yahoo.com March 12th biz.yahoo.com March 17th biz.yahoo.com PCSTEL

To: pcstel who wrote (22568)	3/17/2001 11:21:32 AM
From: Maurice Winn	Respond to of 29987

<During the Gilder Effect when the stock rose to over $50 per share.. Globalstar released a statement saying that it knew of "No Fundamental Reason for the Rise in the Price of the Value of Globalstar Equities"> And serious comment in this stream pointed out that Globalstar would fail and why. I have ranted for years about how and why it would fail. So, any serious investor or even a casual one, reading the discussion even sporadically, could not have been ignorant of the idea that the price per minute was much too high for the technology they were trying to sell. Investors must have some slight responsibility to keep their eyes slightly open when thinking about buying some shares. I am unaware of any material statement of fact which was untrue [the alleged untruth about South Africa's licence was one but an investor would not base their decision on whether South Africa was ready or not - though they might think that if the management can't get that right, they are not worth backing]. There were LaLa land guesstimates aplenty about how many phones and minutes would sell, but any company which has a business plan makes guesses about how much they can sell. That's what investing actually is - come up with an idea, guess how much will sell, then try to do it. Any investor who doesn't understand that 'we will sell 100000000 widgets by 2010' is a guess is not fit to be investing [and probably is not now investing now that the Nasdaq crash has cleaned out untold numbers of investors]. Almost every statement anyone makes is a 'future prediction' and should have boilerplate to the effect that the investor should figure out whether it's a good guess or not. Deliberate lies about existing situations or plans is where the lawsuits should be aimed. I haven't seen a case which makes me think I should join it to get some of my money back from Loral, Bernie or the partners - though the fiduciary duty of partners such as Vodafone to act in good faith tempts me. I don't know the law on good faith or competence in partnerships. Maybe Vodafone misrepresented their marketing abilities to get the business but given the universal nature of how hopeless the marketing was, I doubt any of them could be charged with much more than mindless marketing which is as common as the air we breathe. Mqurice