Globalstar loss triggers questions over service

Article Abstract:

Globalstar Telecommunications L.P. reported a $208.6 million loss for the first quarter 2000. With start-up costs runnig at approximately $125 million a quarter and revenue of $609,000, analysts are questioning the company's ability to survive. The satellite telephone services company's earnings have been affected by manufacturing difficulties, service distribution problems and regulatory barriers. The company acknowledged revenue projections of $160 million as its stock price closed at $10.25 a share. Globalstar's largest investor, Loral Space and Communications Ltd., reported a same-quarter loss of $123 million, $75 million of which was attributed to Globalstar losses.

Services, Globalstar Telecommunications L.P.

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GM close to decision on its Hughes unit

Article Abstract:

General Motors continues to face pressure to spin off or find a partner for its Hughes Electronics Corp. Current share prices of GM's Hughes tracking stock value the unit at $45 bil. Originally the company said it needed to hold onto Hughes as it developed wireless Internet and GPS services for its vehicles. Potential partners include News Corp., Walt Disney Co., and America Online. AOL has 5% stake in Hughes. Hughes's DirecTV anticipates hitting the 10 mil customer mark this year. Investor Carl Icahn, told GM he may acquire up to 15% of GM stock outstanding.

Strategy & planning, Motor Vehicles & Parts, Transportation Equipment Manufacturing, Motor Vehicles and Equipment, Management, Planning, General Motors Corp., GM, Transportation equipment industry, Hughes Electronics Corp., GMH, Company business planning

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Globalstar posts $1.77 billion loss, hurting Loral

Article Abstract:

Globalstar Telecommunications has announced a $1.77 billion loss for the fourth quarter with a $2.9 billion noncash charge. Revenue stagnated at $1.1 million in the quarter. Loral Space & Communications is Globalstars biggest investor with a $1.33 billion charge it took last quarter on Globalstar's weakening condition. Globalstar maintains it has the cash to see out 2001 but many assume bankruptcy is in sight for the telephone satellite company.

Sales, profits & dividends, Telecommunications, France, Telephone Communication, Cases, Telecommunications services industry, Telecommunications industry, Investments, Loral Space and Communications Ltd., LOR, Company sales and earnings, Company earnings/profit, Globalstar Telecommunications Ltd., GSTRF, Bankruptcy

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