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

To: kitterykid who wrote (2763)	2/3/1999 10:03:00 PM
From: Valueman	Read Replies (1) \| Respond to of 29987

Kitterykid--Iridium does have a total of 12 failures. There was an article in ISIR a few months ago that described those failures. As long as there are spares manufactured and launched by Motorola, and paid for out of the $500 million maintenance fee, it does not matter one bit to Iridium(as long as 66 work in the correct planes).

To: kitterykid who wrote (2763)	2/3/1999 10:16:00 PM
From: Joe Brown	Respond to of 29987

I can confirm 11 total birds, possibly 12, as non-functional. That leaves 66 in the operational constellation, plus 8 or 9 spares. The company tells me - and I agree - that what is important are the 66 working birds...they carry the calls. Replenishing launches are scheduled over the next several years, and are the responsibility of Motorola under the O&M (Operation and Maintenance) contract, and thus limit Iridium to a fixed annual cost. The stock market, in my opinion, is the best place to assess the impact of any corporate development, and Wall Street greeted the news of 4-5 additional satellite losses with a yawn, though I personally was at first alarmed. I have been told to relax...and am doing so.