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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: BoNg-N-BoNg who wrote (20550)	8/25/1999 5:43:00 AM
From: LastShadow	Respond to of 43080

IRID - you know it may be under bankruptcy protection, butthis is still a company I would like to own a part of... * IRIDIUM FLIES IN 25 SATPHONES TO ASSIST TURKISH RESCUERS 08/24/99 WASHINGTON, D.C., U.S.A., 1999 AUG 24 (NB) -- By Sylvia Dennis, Newsbytes. Iridium [NASDAQ:IRID], the financially troubled satellite phone operator, has taken the time to fly out 25 of its satellite telephony systems to the scene of the major earthquake in Turkey. As many as 40,000 people are thought to have perished in one of the region's worst earthquakes for several years. Rescuers have been hampered by the lack of basic facilities, including landline or cellular communications in the areas affected. While Turkcell's cellular network had good coverage across Turkey during normal times, when the landline telecommunications infrastructure collapsed during the earthquake, much of the cellular systems went down as well. Iridium flew out the 25 Motorola handheld satellite phones soon after news of the tragedy broke on August 17. Because Iridium's telephone service works via the network's series of low Earth orbit (LEO) satellites, rescuers have been able to use the phones to communicate with the remaining landline infrastructure in Turkey. Iridium says that its staff are also providing assistance to rescue operations in Turkey. In a press statement, Robert Kinzie, the firm's chairman of the board said that the company was deeply saddened by the tragic events in Turkey. "We feel we are in a position to provide some urgently needed help," he said, adding that the company is committed to making its services available to support the vital rescue effort. Iridium says that it has worked previously with Motorola to provide satellite phones and service to Central American governments and relief agencies in the wake of Hurricane Mitch, as well as to humanitarian agencies assisting refugees in the recent Balkan conflict.