World Surveillance Group Inc (fka WSGI)

[siriuslyricher]

Straightup, I think he did it for two reasons: one, to put the fire under the Russians' feet publicly, so the Russians could go to their bankers and say, our U.S. partner is really going to walk if you don't get going on the final approval (otherwise the bankers, slow and cautious) would just think the Russians or Americans were perhaps spinning or bluffing; and two, GTE was probably being bombarded with shareholder calls and emails for an update.

I too, am feeling more optimistic that the banks will approve the plan. My Dad used to negotiate multi-million dollar contracts with foreign companies, and from the tales he has told me over the years, I believe the above scenario is entirely possible. It's a rough business world out there and Huff played hardball to get the banks moving. This all fits in with IR's Bleckman indicating that the banks were not happy with rubles, wanted hard assets, and then a more detailed work plan was required from GTE.