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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT -- Ignore unavailable to you. Want to Upgrade?

To: djane who wrote (7886)	10/18/1999 9:50:00 PM
From: djane	Read Replies (1) \| Respond to of 29987

ICO delay to 4/01 Top>Business & Finance>Investments>Sectors>Services>Communications Services>ICOFQ (ICO Global Communications) More ICO News by: LawrenceCooper (M/Washington DC) 936 of 938 [ICO Plans To Cut Costs, Delay Service By PETER B. de SELDING Space News Staff Writer] GENEVA - ICO Global Communications Ltd. hopes to cut the cost of its planned satellite sys-tem by about $1 billion as part of a restructuring plan designed to pull the communications ven-ture out of bankruptcy. However, when cost growth associated with a planned six-month delay in the initiation of ICO service is factored in, the savings would be closer to half that, officials with the London-based venture said. Under the plan, the first of ICO?s 10 satellites would be launched in January and the start of revenue-generating service would be delayed from October 2000 to April 2001, said Richard Greco, chief executive officer of the company. Posted: 10/18/1999 1:54 pm EDT as a reply to: Msg 935 by LawrenceCooper