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

To: RMiethe who wrote (4193)	4/26/1999 2:24:00 PM
From: Michael Young	Read Replies (2) \| Respond to of 29987

Cramer on Iridium this morning: <<Marooned on the Island of Misfit Toys By James J. Cramer 4/26/99 9:39 AM ET The goal: to get to Nevis from St. Martin. The problem: The charter captain, the man responsible for taking us from the St. Martin airport to Nevis' little strip of flat land, can't be found. The stakes: an angry wife and two overly Nintendoed children who have been traveling for seven hours and wish only to be back at school! The solution? Well, what did I pay those thousands of dollars to Iridium (IRID:Nasdaq) for if not for this precious moment, this delicious moment, when I can get on the phone to my super-de-duper travel agent and get a pilot down here pronto to take care of this problem? I take the phone out of my carry-on, and heads turn on the tarmac. "What is that, a first-generation cellphone?" some New Yorker standing nearby shouts out. "No, it's daddy's space-age phone that can call anybody anywhere at any time," my eldest says. Boy, can she remember ads, especially ones her father has repeated over and over about his new phone. I whip out the attenna. I press on. My wife is saying what a genius I am to have gotten this incredibly expensive toy. And what does it say? "Weak signal." No way. I remember those ads on CNBC. The ones where some guy who looked like Shackleton crossing Antarctica on foot gets a signal. Must be a mistake. I try it again. Weak signal. I push through anyway. Nothing. Signal's too weak from the tarmac of the St. Martin airport. I try it again. Nothing. The guy from New York is laughing his head off. My kids are in disbelief. My wife whispers in my ear: "When we get back I want you to short every share of this ^%&^#&^%." I tell her it is restricted -- you can't borrow a share. "Figures," she says. No wonder this stock goes down every day. (Editor's Note: Iridium this morning reported a loss of $505 million for its first quarter and warned of a revenue shortfall.) . . . >>