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Technology Stocks : GX Investors Thread -- Ignore unavailable to you. Want to Upgrade?

To: Selectric II who wrote (542)	2/14/2002 12:29:31 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 586

Well, I've discussed that at length and tried to make that idea make sense, but I don't think it's right. I think simple stupidity, greed and obduracy are more than enough to explain it. There hasn't been any swiping of the assets. Loral didn't cut their prices in Mexico, Russia or Brazil, [until too late and they didn't cut enough], where they held sway [unfortunately, with Vodafone doing the marketing] and Bernie was foaming at the mouth when he realized that service providers were killing his baby with negligence. I met a lot of the Globalstar people [service providers and LP] and I think their mindset was stubbornly stuck and I'm not surprised that they determinedly pursued a failing strategy. They were quite unwilling to consider other marketing ideas - it was as though the ideas met a large Kremlin Wall. But, foolishly, I thought they would see the light when their business plans failed. I thought it would be hard to ignore blatant failure and that would prompt them to do the right thing. No. Like Hitler, they preferred to destroy all and go down with the ship rather than alter course and admit they were wrong. Iridium benefits, but none of the Globalstar LP partners benefit. Vodafone doesn't benefit by Globalstar's failure. Loral doesn't. QUALCOMM doesn't. Alcatel, China Telecom and the others involved have got almost empty gateways and a big waste on their hands. Investors have lost their money. Creditors are down the gurgler. Employees are out of a job. Customers are stuck in the 20th century with no service. Tax departments are getting no revenue. Global Crossing looks similar. The sky and fibre are dimly lit. Mqurice