Chief Executive of Globalstar Buys $2.51 M Globalstar Stock

Globalstar stock is currently trading around .28 cents 50 percent of its 52 week high. James Monroe Chief Executive Officer at Globalstar Inc. (GSAT) was reported buying $2.51 M of Globalstar stock on December 16, 2008. This purchase of stock will increase James Monroe’s holdings by 21%.

Globalstar is a leading provider of mobile voice and data satellite communication. Globalstar’s service includes mobile and fixed satellite communications which include satellite data modem, remote monitoring and personal asset tracking. Globalstar’s most popular device is the SPOT satellite messenger. Globalstar holds licenses to operate wireless satellite communications over 27.85 MHz in two blocks of global radio frequency spectrum. Globalstar has 48 LEO satellites and 25 ground stations or gateways. Recently Globalstar has partnered with telecommunication companies in Singapore and Africa to add two more gateways to their network. The Globalstar Company was acquired out of bankruptcy by James Monroe in 2003 and is based in Milpitas, CA.