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Iridium Communications Inc. Message Board

  • gleongelpi gleongelpi Dec 9, 2012 8:35 AM Flag

    Be Concerned

    Those who run a corporation have a fiduciary responsibility towards its stockholders. The management of IRDM is showing increasing signs that doing so is not a primary function. They have unnecessarily diluted, increased debt, etc. Some will claim that the need for more satellites, equipment, etc is the reason for these things. It may be the case, but it so, they totally misjudeged a few years back what the future needs were going to be. However, I don not buy the later outlook altogether. If one does a little bit of investigating, it becomes obvious that the insiders are engaged in a slow process of taking out all of their original investment and milking this for every penny they can get short of destroying the company. They know they have to do certain things to keep it going and prevent a collapse, and they will try to do that. But all the benefits are going to them; not the stockholders. The pattern is clear. The stock will move within a certain price range, and it will make its cycle. On the next phase up, I will get rid of my shares. This is nothing more than a rollercoaster ride. Don't expect anymore. Management policies to benefit themselves guarantee that this will be a rollercoaster ride. Will that change at some point in the future? Possibly. But meantime my money id dead here while it can be making a lot of progress else where like it is in SIRI, WFM, WPRT and PNRA. If your stock is not going to make progress, your money should be somewhere that at least pays good dividends.

7.00+0.41(+6.22%)Feb 12 4:00 PMEST