12:30 PM -- Our favorite press release from this morning's PR pile comes from SkyTerra Communications.
You can just tell from the first sentence that it's going to be a doozy:
SkyTerra Communications, Inc. (OTCBB:SKYT) announced today that it acquired a 22% equity stake in the MSV Joint Venture on an undiluted basis by converting the $51 million of MSV Joint Venture notes that it originally purchased in November 2001 into partnership units of MSV at their original conversion price of $6.45 per unit.
Confused? Don't be. I've diagrammed the sentence (or something) right here.
In addition to big, expensive Macs and multiple OS updates, Apple's WWDC featured a Homekit improvement to make smart homes more secure and several tweaks to ease consumer worries about how it deals with their data.