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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments -- Ignore unavailable to you. Want to Upgrade?

To: VIPER85730 who wrote (9284)	5/30/1999 10:20:00 AM
From: Mama Bear	Read Replies (1) \| Respond to of 18998

CIEN was never on the verge of bankruptcy, didn't carry anywhere near the debt that IRID does, and does not require the repetitive intensive capital infusions that IRID does. Further, CIEN marked its bottom last fall, when the market was a bit on the soft side. I think you might get a bounce from some hopeful bottom fishers, but my money is on the company going belly up. Barb PS I can't imagine any company (excepting outright frauds) has been started to go belly up. It happens quite regularly though.

To: VIPER85730 who wrote (9284)	6/1/1999 2:00:00 AM
From: Marconi	Read Replies (2) \| Respond to of 18998

Hello VIPER85730: Iridium satellites have a planned life of 5 years and then they need replacement. Without the up front cash they expected to reap to carry the debt and possess a unique infrastructure that would be prohibitively expensive to front the capital to duplicate by potential competitors, leaves Iridium doomed as going concern. Management's cautions are real, serious, and hold bleak prospects. Beyond financing, their technology is aging significantly and is on a relative plateau from the high up front capital approach they buttonholed themselves into that militates against them developing successfully out of their current position. Literally and figuratively Iridium was a launch based on rapid acceleration...it is apparent they have realized instead a huge inertia that is unlikely to get off the ground. I am tempted to short IRID, but there are better opportunities for trading elsewhere. Best regards, m