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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: HRAKA who wrote (25780)	3/31/1999 12:34:00 PM
From: Jay Fisk	Respond to of 122087

Latest terminal short idea = IRID Unbelievable debt. P/S at 5315 ? S&P gives the company single-B-minus corporate credit and bank loan ratings, and a triple-C-plus unsecured debt rating. Iridium said earlier this month its first-quarter financial results and subscriber levels would fall short of expectations due to slow production and distribution of phones by suppliers, quality problems with certain phone handsets, and poor marketing efforts by its regional affiliates. In the next two months, Iridium must have $4 million in cash revenues, $30 million in cumulative accrued revenues and at least 52,000 customers by May 31, up from 3,000 at the end of 1998. Iridium would default on its loans if it failed to meet those targets. Better late than never. Note the CFO just resigned too.