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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: Marty Rubin who wrote (1956)	6/19/1999 10:43:00 AM
From: Rob Prickett	Read Replies (1) \| Respond to of 2693

Iridium = Motorola's Ball and Chain (Downbeat Article) wirelessweek.com

To: Marty Rubin who wrote (1956)	6/20/1999 2:23:00 PM
From: Marty Rubin	Read Replies (1) \| Respond to of 2693

Iridium to Announce New Marketing, Pricing Structure Monday Washington, June 18 (Bloomberg) -- Iridium LLC, which runs the first global satellite-telephone network, said it will announce its new marketing and pricing strategy Monday. Iridium's interim Chief Executive John Richardson will discuss the company's plans at a press conference at 1 p.m. in Washington. Iridium, which is 18 percent-owned by Motorola Inc., doesn't have the money to pay off $800 million it owes banks, which have extended their credit until the end of June. The company has admitted that its expensive phones and high per-minute charges have hindered the company's efforts to get subscribers. Iridium's telephones allow callers to place or take calls from practically any spot on Earth though a constellation of 66 low earth-orbit satellites and conventional cellular telephone networks. Shares of Washington-based Iridium fell 3/16 to 7 3/4. Jun/18/1999 17:36 (C) Copyright 1999 Bloomberg L.P.