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

To: tb98 who wrote (25262)	10/1/2002 6:54:53 AM
From: Jeff Vayda	Respond to of 29987

Teledesic LLC, a satellite communications services company has announced that it has suspended work under its satellite construction contract with Italian satellite manufacturer Alenia Spazio SpA and will significantly reduce its staff as it evaluates possible alternative approaches to its business. "We continue to believe that the Teledesic system would be useful to governments around the world in connection with disaster relief, anti-terrorism, defense services and other critical government activities. We also believe that providing ubiquitous, quality broadband service to the world, including those three billion people who have never had service, will be a viable business and remains a worthy mission," said Teledesic Co-CEO William Owens. FULL STORY satnews.com