2000: Y2K Civilized Discussion Message Board

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Technology Stocks : 2000: Y2K Civilized Discussion

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To: Hawkmoon who wrote (103)	8/13/1999 2:39:00 PM
From: C.K. Houston	Read Replies (1) of 662

<IRID may become a buy pretty soon. It's too big to fail... and besides, as I mentioned before, the Iridium system is the US govts backup communications system for Y2K contingency planning.> They just halted trading. IRID filed for Chapter 11 Bankruptcy. Bondholder's refused to bail them out. <But just to let you know, IRID was only one of the communications contingency plans that the US govt has. They have their own emergency communications system (GETS) as well.> It's gonna be interesting to see how this plays out. Cheryl ================================================== IRIDIUM LLC, which runs the first global satellite-telephone network, is 86 percent-owned by 19 investors, which also include Lockheed Martin Corp., Raytheon Co., Sprint Corp., American International Group Inc and Motorola. For those not familiar with Iridium, I've re-posted info from Motorola SEC filing: "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." techstocks.com See my notes re ground control, from military PowerPoint presentation *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.** Message 9567593 Really cutting it close.

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