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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: pcstel who wrote (127127)	2/23/2003 4:07:16 PM
From: Maurice Winn	Read Replies (1) \| Respond to of 152472

Thanks PCSTEL. The power of cyberspace is great! <Thornley noted that "early indications" showed that Globalstar's business was proceeding on plan and therefore justified Qualcomm 400% increase in Vendor Financing to Globalstar.> Okay, I stand corrected. Nevertheless, this was not part of a planned deception - QUALCOMM obviously believed it, even if they might have been starting to have a few reservations. I was convinced back at the launch at Telecom99 that QUALCOMM wasn't buying Bernie's enthusiasm. By January 2000, they had barely got going with a couple of gateways, so I can understand they thought they were still on plan, though I think a half-awake salesman should know within a week whether something is selling or not. Gregg Powers, months later [about September], being privy to the whole thing and able to talk to those running the marketing, were asserting that the selling cycle was long. I thought and wrote that that was a load of crap [perhaps I didn't use that word]. I think the only deception was self-delusion by those involved. Bernie was buying all the way down [albeit with money extracted from Loral and Globalstar]. I have some doubt though and am awaiting the outcome of class action lawsuits over same. I like to see things tested in court - with the legal tide out, we see who is building beaver dams and how many fur traders are wearing togs, leotards or Manolo Blahnicks. Jon, I hope that isn't confusing. QUALCOMM bought a bunch more shares [I think about 3 million] during the Great Globalstar Memorial Day Massacre. They obviously thought things were going well enough then to continue to fund it. I think they put more money in around August Y2K. My point is, it wasn't what Verdad was suggesting, which was a QUALCOMM plan to deceive people. Self-delusion isn't dishonesty. Verdad meant a misinformation campaign to con people into buying stock at higher prices, tainting QUALCOMM with active malfeasance by various analysts and financial wheeler dealers. Mqurice