some comments fwiw -
Russian Deal - deposits on contracts. Good thinking BUT they should be thinking of this stuff in advance. I am not sure whether they will be found at fault in this matter and I will look to the legal process to determine whether or not anyone at GTE is at fault. At this point, the damage is done and there is no need for GTE to apologize. It is what it is and I will take a more optimistic attitude knowing full well we can expect the next Deal to ROCK! IMO.
Lawsuits - GTE says they are baseless and Mr.Dumas calls it "professional extortion" - but in my opinion a pig with lipstick is still a pig. Nov '06? Now that has me boggled. I do not understand.
Lastly,
Strat Delay. I am not upset or worried about this at all. It is actually ON PAR with my expectations and I expect MANY more delays on this project. However, again, it seems like Tim Huff was painting a timeline that he could not keep when he was setting testing/floating the Strat this month. To hear about material delays simply means that Mr.Huff still doesn't understand how to communicate this properly to his investors.
All in all - I am not very impressed with today's meeting and I am somewhat glad I was not able to attend.
Now...show me the money. =)
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