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

To: pcstel who wrote (27731)	3/28/2010 11:59:29 PM
From: Maurice Winn	1 Recommendation Read Replies (1) \| Respond to of 29986

It's interesting that I was caught by that, because a decade earlier, a colleague and I watched in amazement as Eurotunnel geared up to burgle investors and people took the bait - both creditors and shareholders. So it's not as though I was unaware of the possibility and had indeed watched the process in action. We couldn't see how Eurotunnel could make money. But we could see that it would be excellent high margin construction work for the organizing construction companies who put the deal together. Sure enough, it was just like Globalstar. The construction companies got paid, the shareholders and creditors were ruined. As it happened, Loral also went bust and Qualcomm lost a bundle too. So I don't really think it was quite as cynical as you make out. Eurotunnel, 20 years on, is still not a booming business. As expected, ferries cut their prices and demand wasn't up to expectations. In the long run, as with so much in human affairs, it's a great thing for the descendants of those human sacrifices who went to the effort of making it. Same with Globalstar. On the ashes of my investment will be built one of the world's wonders. Imagine even conceiving of such a thing 100 years ago when my father was born [in another few months]. 100 years isn't long, but holy cow, look what has been achieved - not always to the profit of those daring pioneers who led the way. It's better to do things right first go, but all too often, all the bung ideas are tried first and only when all other possibilities are exhausted do they do it right. I watched Formula 1 racing yesterday [on tv]. What a difference compared with the Model T of a century ago. Changing wheels is quick now and they chat with the drive over wireless and have computers figuring out the transducer inputs. Mqurice