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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT
GSAT 62.88-0.5%Nov 14 9:30 AM EST

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To: djane who wrote (7660)9/30/1999 4:03:00 PM
From: djane  Read Replies (1) of 29987
 
ICO production line stopped

Top>Business & Finance>Investments>Sectors>Services>Communications
Services>ICOFQ (ICO Global Communications)



Hughes halts ICO production
by: one_dollar_chinese_food (39/M)
881 of 883
Hughes halts ICO production:

Hughes Electronics has halted production of the ICO satellites system at its El Segundo facility. HE top
brass say that this was in order to limit the company's liability during the Chapter 11 reorganization. The
work stopage is said to be temporary and mutually agreed upon by ICO and Hughes.

The following will be effective immediately:

1.) F1 and F2 are to be completed.
2.) F3 through F12 work will stop at a yet to be determined point.
3.) Ground Station activities will cease.
4.) Launch preparation will cease.

I don't like the sound of this.

Posted: 9/30/1999 1:06 am EDT as a reply to: Msg 880 by corgini
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