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Technology Stocks : IRID - Iridium World Communications IPO Announced!
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To: Marty Rubin who wrote (1873)5/31/1999 2:10:00 PM
From: Bill Jackson  Read Replies (2) of 2693
 
Marty, This reminds me of the time the Turtle Express was started, and then along came ponies, and then the wires and the railroad entered into it.
I doubt any shareholder at this time will see ang upwards movement, apart from chaos type noise. Motorola may try to stir the pot to encourage people, but most advisors see IRID as a dead horse, stop beating it.
Iridium is old tech and old think and it is time for it to die. As to salvage of the assets to see how well the secured creds come out??
Thw writing is on the wall and Motorola is on the hook along with the other founders for a certain amount, as dumbmoney says, will that be burned up in expenses leaving only the sale of the ground and orbiting assets to give some recovery to the creditors?
It all depends on what the flying assets are worth. If the creds have $2 billion flying they will get their $$ back, and will let the farce play in Rhode Island for a while. If the flying assets have zero or negative(need money to maintain, but have no real value) then it is gongtime.
A lot hinges on the versatility of the flying transponders and the degree to which they can be re-orbited. Since they have a lot of fuel they may be able to slowly place them in more useful orbits that will enhance what their transponders can do. I expcet there are people going over this as we speak?

Bill
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