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

To: Selectric II who wrote (25836)	1/31/2005 1:32:01 AM
From: Maurice Winn	Read Replies (1) \| Respond to of 29987

<Rational people -- the best in the business, as they have been described -- don't act so irrationally. Put another way, no professional could be so dumb.> Having met said rational people, the "best in the business", I thought they were decidely human. In fact, they were not particularly rational. Honestly, they seemed perfectly normal, like the average person. When people have a belief system, even if founded on what I consider totally vapid foundations, especially if they've been brought up to that belief system from a young age, they seem completely unable to change their mind. Cognitive disonnance is a difficult thing to cope with. dmu.ac.uk I've had a fair bit of experience with professionals over the decades and most of them can be at least that dumb. There was the extra difficulty that Globalstar LP, having established the service provider contracts, couldn't force them to change their marketing strategies, even if the Globalstar LP people became convinced of the validity of the idea of vastly cheaper minute prices, which they didn't. They looked for financial solutions, such as more capital raising, rather than marketing solutions. By the time they realized they were in trouble, it was too late for price changes as they were doomed to run out of money before demand built sufficiently and people wouldn't provide extra capital given the obvious marketing failure. So it was game over. The obsession with 'vertical markets' and mounds of MBA marketing jargon couldn't be ditched. Mqurice