To: Maurice Winn who wrote (24851 ) 3/31/2002 10:20:52 PM From: kitterykid 1 Recommendation Read Replies (2) | Respond to Maurice: I am a great fan of yours and am sorry to see you give up on Globalstar right now. I too have been involved for at least 7 years - doing due diligence before the IPO with the people at Qualcomm and Loral (independently of each other, of course!) and getting pretty excited about the prospects for Globalstar. Obviously it had once been euphoric at times in the past but it has been a mostly anxiety-ridden, discouraging, and frustrating experience in the past two years. I too gave up on the equity over a year ago and shifted to the notes where I remain. At the end of your post you say, "Now, where do I buy shares in the revamped, debt-free, cash rich Globalstar with the 10c a minute price?" Maurice, don't you believe the notes and the reorganization will give you just that? Perhaps I am in denial but that is my hope and expectation. Tell us why you have given up, perhaps just as it is darkest before the dawn. Remember, Qualcomm and Loral delivered on their end of the bargain - the technology worked, the satellites built and the system successfully deployed. It was the Iridium/ICO bankruptcies, the marketing fiascoes, the obstinate attitude, ignorance, plain old lack of interest on the part of the service provider partners because Globalstar had become too small to matter and bother with as they became behemoths only concerned with buying up and consolidating cellular properties and bidding insanely on UMTS licenses. And of course we experienced the popping of the biggest bubble of them all - telecom - beginning in March of 2000. But now, today, you have a unique franchise still, operating very well, the prospects of all debt being eliminated, new players, new cash, ATC potential and those telematics, aviation and maritime, government and military applications, not to mention thin but geographically broad potential individual consumer use. I predict no other commercial MSS system will ever be built unless Globalstar is a success. So much for my ranting and raving! Maurice, your posts here and elsewhere are greatly appreciated by many people. We hope you will keep at it!
