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

To: Jeff Vayda who wrote (1479)	3/30/1999 10:25:00 AM
From: Goodboy	Read Replies (1) \| Respond to of 2693

Nothing like the military using a sat system partially owned by the most wanted terrorist in the world. Even a large order from the military can't bail out the coming bankruptcy (that is such a nasty word, let's just say restructuring) of Iridium. Bonds are near 50 cents on the dollar. They should still be worried at that price.

To: Jeff Vayda who wrote (1479)	3/30/1999 12:40:00 PM
From: Dragonfly	Respond to of 2693

DoD buy seems like it will come to pass, but how many handsets? WAG: 5000 first order with options for more. This is a real failure on Iridiums part. The feds have their own gateway, and still they aren't buying handsets in significant quantities. The 27,000 required by the covenants should have been exceeded with DoD and other federal sales alone. (And still be a minority of in-field communications systems) Iridium has had years of contact with them and consultation on their needs and requirements. Either paper pushing has delayed huge orders (in which case, watch out), or Iridium dropped the ball somewhere and will never see big purchases from the feds. This is a real problem. Dragonfly