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


To: djane who wrote (2895)2/9/1999 3:52:00 AM
From: Valueman  Respond to of 29987
 
February 09, 1999 03:34

Third Successful Launch Adds Four Satellites to Globalstar Constellation
NEW YORK--(BUSINESS WIRE)--Feb. 9, 1999--Globalstar (NASDAQ:GSTRF) announced today the successful simultaneous launch of four of its low-earth-orbiting (LEO) satellites into space, bringing to 12 the total number of Globalstar satellites now in orbit. Globalstar's satellites, manufactured by prime contractor Space Systems/Loral, were launched on February 8, at 10:54 p.m. EST aboard a Soyuz- Ikar launch vehicle from the Baikonur Cosmodrome in Kazakhstan.
All four Globalstar satellites were separated from the upper stage at an altitude of 920 kilometers above the Earth approximately three-and-a-half hours later (2:24 a.m. EST, February 9). Engineers at Globalstar's ground operations control center (GOCC) in San Jose, Calif., subsequently acquired the satellites' signals using the five Globalstar telemetry command unit gateways located in Aussaguel, France; Yeoju, South Korea; Dubbo, Australia; Bosque Allegre, Argentina; and Clifton, Texas.

During the next several weeks, Globalstar engineering teams will raise the satellites to their operational altitude of 1,414 kilometers. The four newly launched satellites will be placed in a plane adjacent to the two in which eight satellites are already in orbit.

"This launch adds significantly to Globalstar's space segment and brings us closer to the initiation of commercial service scheduled for the third quarter of 1999," said Bernard L. Schwartz, chairman and chief executive officer of Globalstar and of Loral Space & Communications, Globalstar's largest equity owner.

"The hardware and software in our space and ground systems functioned flawlessly throughout the launch process," Mr. Schwartz continued, "managed by our skilled and dedicated teams in Baikonur and San Jose. We are confident that the balance of our launch campaign, with roughly one launch per month through the end of this year, will be equally successful." Globalstar plans to have at least 32 satellites in orbit in order to start commercial service in the third quarter of 1999, and to have 52 satellites in space by the end of 1999.

The Soyuz-Ikar launch vehicle is manufactured by Starsem, Paris, France, a joint venture created in 1996 by Aerospatiale, Arianespace, the Russian space agency RKA and Russia's Samara-based space center TsSKB-Progress Soyuz.

Globalstar is the next-generation provider of mobile satellite personal communications services. The Globalstar system, comprising 48 low-earth-orbit (LEO) satellites and a global network of ground stations, will provide people around the world with fixed-phone and hand-held mobile satellite phone services, as well as data transmission (at up to 9.6 kilobits per second), messaging, facsimile and position location services.

Globalstar is designed to provide low-cost, high-quality mobile satellite services to customers around the world. Its use of advanced CDMA technology ensures superior voice quality, and its system routes calls through multiple satellites simultaneously, minimizing dropped calls and maximizing completed calls. Globalstar has been conducting handset tests since April 1998 via the eight satellites it has previously launched into orbit. Globalstar now has service provider agreements in more than 100 countries, covering 90 percent of Globalstar's business plan. Six Globalstar gateways are being used to control and test the satellite system, and site work and construction is under way at 20 more gateway sites around the world.

Globalstar, led by founding partner Loral Space & Communications, is a partnership of the world's leading telecommunications service providers and equipment manufacturers, including Qualcomm Incorporated, AirTouch Communications, Alcatel, Alenia, China Telecom (HK), DACOM, Daimler-Benz Aerospace, Elsacom (a Finmeccanica/Elsag Bailey Company), France Telecom, Hyundai, Space Systems/Loral and Vodafone. For more information, visit Globalstar's web site at www.globalstar.com.

Loral Space & Communications (NYSE:LOR) is a high technology company that primarily concentrates on satellite manufacturing and satellite-based services, including broadcast transponder leasing and value-added services, domestic and international corporate data networks, global wireless telephony, broadband data transmission and content services, Internet services, and international direct-to- home satellite services. For more information, visit Loral's web site at www.loral.com

CONTACT: Globalstar
Jeanette Clonan
(212) 338-5658




To: djane who wrote (2895)2/9/1999 4:35:00 AM
From: djane  Read Replies (1) | Respond to of 29987
 
Semi-OT. BBC article on daytraders. [See the last paragraph for possible impact on GSTRF]

Monday, February 8, 1999 Published at 23:13 GMT

news.bbc.co.uk

All in a day's work

A new trading day dawns on-screen for many US investors

BBC North America Business Correspondent
Richard Quest reports on the boom in share trading
over the Internet in the US and problems it's
causing in an overloaded electronic 'day trade'
market.

What's in a day's work?

In the case of 25-year old Nicholas Birbas, a working
day means making around $10,000. That's the amount
he expects to earn from trading on the Internet.

He is is part of a new breed of investor who knows
nothing about the companies, doesn't care about the
balance sheet and even less whether it will still be
around next year.

Mr Birbas, and thousands like him, have learned the art
of trading on line. They spend all day in the internet chat
rooms like Tokyojoe or Silicon Investor swapping tips
and gossip. Then they trade buying and selling hour by
hour, watching for every small movement in the price.

"I just play on momentum"
he says. "When I see the
volume taking off,
fundamentals don't mean
anything at that point. I get in
and get out and just keep
doing that.

His ideal trade is around
2000 shares at $20 (for an
investment of $40,000) Then
he waits for the stock to rise
$3 or $4 and sells: An instant
profit of around $8000. Bibas
is a former waiter. "I used to make $500 or $600 a week,
I was on my feet all day, it was stressful. It wasn't good.
Now I work from home and make around $50,000 a
month."

The number of people investing like this is growing.
There are 5m Internet investment accounts in America.
And the number is forecast tripple in the next three
years. Although most don't 'day trade' there are certainly
more people investing more often.

Trading overload

And that's created huge problems for the systems. Last
Thursday, E*Trade, the largest online broker, had a
computer breakdown that effectively paralysed
thousands of accounts. No-one could buy, or more
importantly sell, positions they already held. It created
frustrations, anger, losses and without doubt law suits.

The US authorities are now worried. The New York State
Attorney General has launched an investigation into
on-line investment problems. And the main regulator the
Securities and Exchange Commission is only too aware
that investors are about to get burned.

Nancy Smith, the head of investor education and the
SEC said: "What is happening is that investors are
pouring their money into anything that has 'dot com' after
it. Nobody knows where it is going to end, who is going
to be standing at the end of the day."

Greenspan's warning

It was a point neatly made by the Chairman of the US
Federal Reserve Alan Greenspan, who on Capitol Hill
two weeks ago warned that some Internet stocks would
clearly succeed and make money but 'most would fail,
undoubtedly."

For those involved in the 'day trades' this is all in the future. Today there is another stock that's being ramped
and more money to be made.

And even if the Internet stocks bubble does burst they're
not worried. They can turn their new-found tools to other
sectors - bio-tech, cellular communications - merger
companies - after all, tomorrow is another trading day.