This Iridium satellite deal, gets more and more interesting. And more serious.
From Motorola SEC Filing:
Excellent, detailed Y2K disclosure. Covers just about every base.
EXCERPT:
"The satellite business designs, develops, manufactures, integrates, deploys, operates and maintains space-based telecommunication systems and related ground system components. At present, the business consists of one operating system known as the Iridiumr System. This system contains date- sensitive functions. The business has made all necessary hardware and/or software upgrades available to customers by July 1, 1999. The business anticipates that it will need to supply technicians to install any such upgrades, and does not presently anticipate any difficulty in meeting any potential installation needs.
"Management believes that the most reasonably likely worst case scenario related to the Year 2000 issue is a temporary interruption of the Iridium System due to the inability of the ground segment to communicate with the satellite constellation. [SEE MY NOTE BELOW.] As a result, the satellite business would incur costs in correcting such a failure. Management believes adequate efforts are in place to identify potential hardware/software problems and to implement and test solutions."
"Some iDENr infrastructure products operate with date sensitivity. The iDEN system became Year 2000 Ready when a new system release was completed on June 30, 1999. While the business expects to deploy this release in a timely matter, it will confront the same resource and installation issues facing the Company's infrastructure businesses."
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NOTE: See my notes re ground control, from military PowerPoint presentation
Message 9567593
New, Y2k-compliant software for ground control system isn't scheduled for delivery until September. At which time they'll begin testing prior to actual installation. Really cutting it close.
If IRID had to declare bankruptcy, and then there's some kind of re-organization. If there were Y2K problems, who do people sue?? Besides Motorola and other hardware and software companies involved with these satellites.
If they declare bankruptcy now, this would be one way to be "let off the hook" later - wouldn't it?
Cheryl |
