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: pavlov 1 who wrote (2459)	9/5/1999 2:18:00 PM
From: Marty Rubin	Read Replies (2) of 2693

(Business Week 09/13/1999: "Can These Guys Beam Up Iridium?") Can These Guys Beam Up Iridium? On Sept. 1, Iridium (IRIQE), the beleaguered satellite phone company, announced it had hired New York turnaround firm Alvarez & Marsal. Iridium filed for Chapter 11 bankruptcy protection in August after failing to meet bond payments and revenue targets promised to bankers. Alvarez & Marsal will prepare a restructuring plan for the company. The firm's managing director, Joseph A. Bondi, will serve as Iridium's chief restructuring officer, while Managing Director David R. Gibson will act as the interim chief financial officer, replacing Leo Mondale, who resigned. Copyright 1999 The McGraw-Hill Companies, Inc. All rights reserved.

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