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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: Marty Rubin who wrote (1846)	5/27/1999 2:02:00 PM
From: Marty Rubin	Respond to of 2693

i plan to load up for tomorrow. 8 11/32-15/32 2,285,100. will see how low i can add.

To: Marty Rubin who wrote (1846)	5/27/1999 2:05:00 PM
From: Goodboy	Read Replies (2) \| Respond to of 2693

Silly me, I should have known that the CFO calls the shots on a bankruptcy. NOT! It is the creditors that call the shots. The CFO has no control once a default occurs. They only have the option of a pre-packaged bankruptcy or the more polite and civil way to say it, a debt resturcturing. It still means the equity is worthless. By the way, the last CFO stood up at a major Wall Street satellite conference only weeks before he sold all his stock and resigned. He said that they were on track, they could work out the issues with the bank covenants and the future was bright. The stock was above $30 at the time. There is a reason why more than 8 seperate class actions lawsuits (another one was filed today) have hit Iridium. This comment today is so silly that the people buying the stock deserve to lose their money.