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

To: Henry who wrote (2550)	12/30/1999 11:38:00 AM
From: Citidude	Read Replies (1) \| Respond to of 2693

Henry, here's the link: cnnfn.com I would like to know if anybody here believes Iridium (IRID) has a snowball's hope of ever becoming a "Phoenix" again. The reason I ask is because it seems ABSOLUTELY unconscionable to me that 66 satellites will be left as orphans to just orbit the earth for eternity. Somebody *MUST* step in and take over this and make it work! Obviously, any investment at this point would be cheap, but high risk. I'm thinking on one hand, this may not be as long term as one may think if the right company comes in with the technological prowness & know-how to reduce costs and improve efficiency. It's obvious the consortium they are aligned with hasn't come up with answer as of yet (Motorola, et' al). On the other hand, it could be disastrous if some management comes in and repeats history. I'm also aware that a possible answer is just for this company to liquidate and be done with their woes. I don't know VERY much about this company at all and just found it's web-site today (12/30/99). But isn't this the company that Bill Gates made a personal investment in? Also, does iridium actually OWN these 66 satellites, or just operate them. If they OWN them, I'm thinking that's where the value might be at this point for pennies on the dollar. This is one of the more longshot investments I can think of (and I mean money you can truly just burn or have the mentality of putting away for 100 years if you had to), but what are folks' opinions regarding this. Thanks everyone in advance for your input!!! I very much appreciate it!!! Chris