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To: 10K a day who wrote (23498)	7/11/2000 2:29:40 AM
From: FR1	Respond to of 29970

It's a slow news day so here is a story: Once upon a time, a long, long time ago, there was this great big beautiful plan to save all the people in the kingdom called Teledesic teledesic.com Teledesic, they said, would provide wireless “fiber like” (well…almost kinda-like fiber-like in-a-way) broadband access from 268 LEO satellites: teledesic.com Teledesic was lead by the glorious investors: Craig McCaw Bill Gates Motorola His Royal Highness Prince Alwaleed Bin Talal Bin Abdul Aziz Alsaud Abu Dhabi Investment Company The Boeing Company Then along came the mean old DOJ witch who, along with the evil AG witch, cast a spell over all the land and buried the beautiful Teledesic deep in the ground. Now, ding-dong-the-witch-is-dead, they are digging this mummy up again. It seems that one of the easiest ways to get birds in the sky is to buy some that are already up. Hence the announcement tomorrow listed below. So it seems that Gates, et al, are feeling well enough to start pumping cash into this project again. That’s good for us, because AOL has put $5B into GMH and they are starting a DirectTV program that will allow home dishes to talk back to the satellites (transponder upgrade kits available at end of the year). DISH, with MSFT investments, will be going against them doing the same kind of thing at the end of this year. DISH, however, does not have nearly as many subs as GMH. Teledesic, if it gets back on schedule, would deploy in 2004 and cover the earth. One would assume that T would try to get its foot in the door any way they can. VoIP is a obvious offer and maybe ATHM will somehow find its way into the mix. No? Oh well, we can always wish....maybe there is a yellow brick road somewhere in here for us - after all anythng can hapen in a fairy tale. biz.yahoo.com Monday July 10, 10:58 pm Eastern Time U.S. investors to pump $315 mln into UK's ICO --FT LONDON, July 11 (Reuters) - Microsoft Corp (NasdaqNM:MSFT - news) Chairman Bill Gates and several other U.S. private investors are due to announce on Tuesday a $315 million (209 million pound) investment in New ICO, a London-based satellite phone company rescued from bankruptcy last year, the Financial Times reported. The newspaper said the money would be used to fund a new satellite launch programme designed to offer high-speed, or ``broadband'', Internet access anywhere on the planet. This renewed confidence in satellite communications came despite the financial collapse of Iridium, a lower capacity network backed by Motorola Inc (NYSE:MOT - news), whose satellites were due to crash back to earth over the next year, the FT said. It said the rebirth of New ICO would also a pose a direct threat to Inmarsat, a rival UK-based group, which is launching its own broadband satellites and hoped to float on the London Stock Exchange early next year. New ICO, spun off from Inmarsat five years ago, emerged from Chapter 11 bankruptcy after completion of a $1.2 billion investment led by U.S. telecommunications pioneer Craig McCaw and a group of other U.S. and international investors. The newspaper said Gates was putting in $100 million. U.S. private equity group Clayton, Dubilier & Rice is investing $150m and has an option to add $200 million later, it said. A total of $65m has been injected by Subhash Chandra, an Indian media entrepreneur, and Burlington Resources, a private investment vehicle of Swiss investors Jack and Philippe Setton, the FT said. (One pound equals $1.51)