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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 60.66

-1.6%

3:59 PM EST

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To: djane who wrote (5351)	6/24/1999 12:02:00 PM
From: djane	Read Replies (2) of 29987

Who Really Needs a Cell Phone on the Amazon? June 23, 1999 Iridium, the Motorola (MOT) -led consortium that promises wireless phone service anywhere on the globe, thought jet-setting execs would jump at the chance to ensure connectivity for their treks upriver or along the Silk Route. But it turned out the suits weren't willing to shell out $3,000 to stay in touch on the road less travelled. Their worn path includes Kuala Lumpur and London's M5 ring road, as well as the drive from Newark Airport to midtown Manhattan, but so far their cell phones are doing the job. So what's Iridium's Plan B? Wired's Joanna Glasner says it will target tough guys. Think Will Steger or the guy Bruce Willis played in "Armageddon": roughnecks on oil derricks or the disaster-relief crowd. Maybe the next Jane Goodall. Iridium's CFO quit in March and its CEO quit in April after the failure of Plan A became apparent. A Reuters story in Tuesday's New York Times explained that although Iridium would take an even bigger hit to offer affordable rates to its blue-collar globetrotters ($2.99 per minute, anywhere on the planet), doing so would help "load the customers and see the usage we need to make this business a financial success." Iridium Goes Industrial Wired News Telecommunications Price Cuts by Iridium (Reuters) New York Times Mentioned in this article COMPANIES Motorola (MOT) Schaumburg, IL Copyright © 1999 The Industry Standard All rights reserved E-mail: webmaster@thestandard.com

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