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

To: sks1 who wrote (24810)	3/13/2002 5:12:42 PM
From: pcstel	Respond to of 29986

Where did you get this from? PCSTEL

To: sks1 who wrote (24810)	3/13/2002 8:43:13 PM
From: Pierre	Read Replies (3) \| Respond to of 29986

Not sure about this, but I like his thinking. He makes one very valid point imho, and it reflects a suspicion I've had for some time. I called it a double dip BK, but as he points out, not really necessary. Just waste the assets until creditors have no more leverage. I suspect this is being done. I think Q* and (maybe) some others want this thing absolutely debt free. With the SPs out of the way, only Q* really has leverage. At any rate, whatever it takes to keep this tar baby alive until it shows signs of independent life I'm for it, even if it means shutting down current operations and essentially parking the sats for a year or two. The successor owner, who undoubtably will make a killing if InFlight or ATC see light of day, is busily spending my asset to make sure I have no participation in a new and meaningful company. So I say, shut it down now. I would vote to cease all operations, bank the last of the cash, and spend only what funds are needed to keep the sats from banging into one another. My guess - if creditors ever got beyond first base with such a proposal, Q* would start talking turkey. As it stands now, by forcing nothing, we creditors are simply watching our asset go to zero. IJ turns the spit, and when the turkey is done, Q* feasts and the rest of us take a walk. It smells, but in a cold capitalistic sort of way, why not? Hell, I* got the government to play ball while screwing equity holders and debtors alike. Why should we expect anything different here. Pierre