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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: StormRider who wrote (2144)6/29/1999 8:31:00 PM
From: kitterykid  Read Replies (1) of 2693
 
It may just mean "more drama between the shorts and the longs" for the next month or so but let's remember: there have been at least 13 cold failures of Iridium birds in space - does anyone think there could be a systemic problem? At $40-$50 million per bird, that ain't chicken feed. If I were a potential sub or purchasing manager I would be a bit nervous about buying $3,500 phones, even if they're on sale for a thousand bucks, with all the financial uncertainty. The whole situation is pretty tricky - it doesn't seem as easy as simply giving all the equity to the banks and creditors. There is a huge amount of money that still needs to be put up and I question how easy it will be to raise it. It all may boil down to deck chairs on the Titanic!
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