IRID - Iridium World Communications IPO Announced! Message Board

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Technology Stocks : IRID - Iridium World Communications IPO Announced!

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To: Sr K who wrote (2077)	6/25/1999 3:13:00 AM
From: Marty Rubin	Read Replies (1) of 2693

BUSINESSWEEK: JULY 5, 1999 ISSUE (came out Thursday night --Marty) IN BUSINESS THIS WEEK Headliner Iridium Changes Its Numbers Iridium is trying a new line. On June 21, the embattled satellite phone company announced a new price-slashing strategy to help boost flagging sales of its 8-month-old service. Iridium will also shift its focus from marketing to global business travelers to industrial customers, such as oil-rig workers, who have a demonstrated need for the global calling service. Iridium, which has been in technical default on $800 million in credit, expects to come up with a new financial workout plan with investors and lenders by early July. Copyright 1999 The McGraw-Hill Companies, Inc. All rights reserved.

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