Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: djane who wrote (4669)	5/18/1999 3:08:00 AM
From: SafetyAgentMan	Read Replies (2) \| Respond to of 29987

Djane, I howled every time I paused for one of your Hello's. How embarrassing, the author and editor are idiots. They both should be sacked and be given shares of IRID as severance pay. By the way, how do bold the type in your posts?

To: djane who wrote (4669)	5/18/1999 8:33:00 AM
From: Sawtooth	Respond to of 29987

<<Didn't RedHerring pick G* in 1/99 as a Top 10 pick in very select company for stock price appreciation in 1999?>> djane: I believe it was Loral that received top pick for "Best Long Term Potential" in 1998. ...Tim (Sidenote): Lucent received "Best Overall" in 1998 and again this year. Regarding, Irid, for some odd reason Red Herring has always seemed to have had a positive bias when reporting on them.

To: djane who wrote (4669)	5/18/1999 11:45:00 AM
From: djane	Read Replies (1) \| Respond to of 29987

SmartMoney. Bargain hunters should steer clear of the embattled satellite operator Iridium, says J.P. Morgan analyst Marc Crossman. The company has suffered from a lack of subscribers to its satellite-based cellular phone network. But that's not the company's only difficulty, according to Crossman. "We believe Iridium's greater problem is an overwhelming cost structure relative to its revenue generating potential," Crossman said in a Monday report, noting that Iridium's $1.46 billion in cash expenses exceeded the $1 billion in revenue for the entire mobile satellite services market. "We believe that Iridium's cost structure will require drastic measures to fix such as a complete restructuring of its capital structure." Given that Iridium will have about $380 million in interest payments on its $3 billion of debt this year, the analyst suggests that Iridium convert all or part of its debt into equity. Crossman also took a slap at Iridium's share price, which is near $9. "The maximum fair value for Iridium is $7 per share...assuming Motorola comes forward and fixes Iridium's financial problems free of charge (highly unlikely)," he said. Motorola, which owns a 19% stake in Iridium, is expected to provide Iridium with additional financing. But investors aren't optimistic. The stock hit another new low on Monday after tumbling more than 25% Friday, when the global satellite phone company confirmed that it would not meet the revenue or new customer goals required by its bank lenders. Iridium also announced that it had appointed Donaldson, Lufkin & Jenrette as a financial adviser to help restructure its debt. Iridium's financial problems have prompted the resignations of the company's CEO and CFO. RT