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To: Pierre who wrote (1522)	7/23/1998 4:01:00 PM
From: 2brasil	Respond to of 29987

==ot Iridium slides as two satellites lost NEW YORK, July 23 (Reuters) - Shares in Iridium World Communications Ltd. skidded Thursday after the company said it lost two of its satellites which were to form part of a new global wireless telephone and paging system scheduled for a September 23 launch. The stock tumbled 8-11/16 to 45-1/2. ''This is well within the allowance we had set in terms of satellite failures,'' said Iridium spokesman John Windolph. Iridium will replace both satellites with a pair of launches in August. Those launches had been scheduled before and were intended as ''replenishment launches'' for the network, Windolph said. Wall Street analysts who took part in a conference call with the company late afternoon Wednesday said it was unclear why the satellites had failed and were doubtful if the September launch date could be maintained. ''I think they are going to realize that it is probably going to serve them better to run the system through its paces rather than stick to the September 23rd date for September 23rd's sake,'' said analyst Ann Henry of BancAmerica Robertson Stephens. Iridium said the satellites failed either because of hardware or electronics failures, and it saw no delay to the start of commercial service. BancAmerica Robertson Stephens' Henry maintains a long-term attractive rating on the stock, with a price target of $75 by the end of 1998. ''The problem here is that we don't know if the two statellites that failed are indicative of other satellites that might fail,'' said Timothy O'Neil, an analyst who tracks the stock at SoundView Financial Group. O'Neil maintains a near and long term buy rating on the stock. ''But they are still at least a year ahead of their nearest competitor and have done very well in building up a strong sales, distribution and operations network,'' O'Neil added. Thursday Merrill Lynch cut its near-term rating on Iridium to a hold from accumulate, but maintained a long-term buy rating. Analysts said the extent of the slide was partly due to the large number of retail customers that own the stock, catered to by Merrill. Salomon Smith Barney's analyst John Coates initiated coverage on the stock Wednesday with a buy rating, with a price target of $75. Coates said there was no financial impact on Iridium from the satellite losses because of insurance coverage, and Motorola Inc. (MOT - news), which owns about 20 percent in the project, had privately expected to lose nine satellites before the commercial launch. Seven satellites have been lost so far, Coates said. ''I view this as a buying opportunity -- it's a classic market overreaction,'' Coates said. Along with Motorola, other members of the consortium include Sprint Corp. (FON - news), Lockheed Martin Corp. (LMT - news), Raytheon Co. (RTNa - news), and Pacific Electric Wire & Cable Co. (1602.TW). With the Iridium system, calls will go up to the satellites and move across their ''constellation,'' then come down to gateways on Earth to link up with telephone networks. Calls could be made from the middle of the Sahara desert, a hotel room in Paris or a ship in the Pacific Ocean. The service will be pricey to start, and the phone has a large antenna making it less discreet than the pocket-sized cell phones available today, but Motorola sees an initial market of international executives, for example, willing to pay for the promised capabilities.

To: Pierre who wrote (1522)	7/23/1998 11:42:00 PM
From: Mr. Adrenaline	Read Replies (2) \| Respond to of 29987

It is bus (satellite stuff) failures. G* and I* share no common thread that I know of, except that their structure is aluminum. Comparing the two buses would be like comparing a bicycle to a motorcycle. G* made an effort to use the "less is more", and the "Keep It Simple Stupid" (K.I.S.S.) approach. As far as technology goes I* is much more sexy. But you know, I have to take my Ferrari into the shop once a week for a tune up to keep it running just so, but my Honda just keeps going and going and going and going. Mr A PS I only own a Ferrari in my dreams! :_-(