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

To: djane who wrote (3401)	3/15/1999 8:41:00 AM
From: Joe Brown	Respond to of 29987

Globalstar 17 1/4 bid; 8:40 EST.

To: djane who wrote (3401)	3/15/1999 1:08:00 PM
From: djane	Respond to of 29987

Bloomberg. Globalstar Launches Four Satellites on Russian Rocket (Update1) (via q* thread) Globalstar Launches Four Satellites on Russian Rocket (Update1) (Adds Globalstar comment in 3rd paragraph, details.) Moscow, March 15 (Bloomberg) -- Globalstar Telecommunications Ltd., launched four satellites as it tries to catch up with rival Iridium LLC and start a satellite-based telephone system allowing users to make or receive calls anywhere in the world. Globalstar launched the satellites from Baikonur in Kazakhstan on a Russian Soyuz-Ikar rocket yesterday at 10:06 p.m. Eastern Standard Time, the company said. The satellites were separated from the upper stage at 1:37 a.m. EST today, bringing the number of satellites in orbit to 16. ''The flawless execution of Globalstar's second Soyuz launch further reinforces our confidence in the reliability and robustness of our launch campaign,'' said Bernard L. Schwartz, chairman and chief executive officer of Globalstar, in a statement. ''We are looking forward to initiating commercial service in the fall.'' Globalstar's plans call for the start of commercial service by September, almost a year after its main competitor, Iridium LLC, a joint venture led by Motorola Inc., began operations. Globalstar has scheduled nine additional launches this year, each carrying four satellites. Globalstar's last launch from Baikonur put four satellites into orbit on Feb. 9. The Soyuz-Ikar launch vehicle is manufactured by Starsem, a joint venture created in 1996 by Aerospatiale SA, France's No. 1 aerospace company, Arianespace -- Europe's satellite launch group - -the Russian Space Agency and Russia's Samara-based space center TsSKB-Progress Soyuz. Globalstar plans to have 32 satellites in orbit to start commercial service in the third quarter. The company plans to have 48, plus four in-orbit spares, by the end of 1999. Salomon Smith Barney reiterated its ''buy'' recommendation for Globalstar on Friday. Globalstar was raised to ''strong buy'' from ''buy'' by ING Baring Furman Selz LLC on March 1. Globalstar shares rose 4.2 percent or 11/16 on Friday to 17 1/16, while Loral Space & Communications Ltd., Globalstar's largest shareholder, rose 2.74 percent or 1/2 to 18 3/4. NYSE/AMEX delayed 20 min. NASDAQ delayed 15 min.