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


To: Michael Young who wrote (4194)4/26/1999 6:25:00 PM
From: SafetyAgentMan  Respond to of 29987
 
FEATURE/Globalstar Launches National Science and Technology Week Into Orbit With Satellite Fast Facts; Global Satellite Communications Provider Offers Background on Technology (Business Wire; 04/26/99) SAN JOSE, CALIF. (April 26) BUSINESS WIRE FEATURES -April 26, 1999-- Globalstar, a provider of mobile satellite personal communications services, is contributing to the education of America's youth during National Science and Technology Week from April 25 to May 1. National Science and Technology Week is a nationally recognized effort to build students' knowledge in the areas of science, technology and engineering as well as generate future career interest. As a **Loral** Space and Communications-created company, Globalstar has a rich history of satellite knowledge -- which it shares on the following pages with a definition, history and use of satellites and how they are built, tested and launched. During the past 40 years, satellites have progressed a long way -- and so have their functions. Prior to 1990, they were used primarily by governments and the military. Today, commercial ventures are utilizing satellites to help meet the world's demand for total global access to phone service, including remote locations. Although phone technologies have advanced, the International Telecommunications Union reports that three billion people around the world still lack basic phone service or access to community phone booths. Satellite technology, in conjunction with ground stations that receive voice signals from space, will allow people globally to converse by phone -- many for the first time in their lives. Globalstar will begin offering global phone service in the third quarter of 1999. "It's estimated that during the next eight to ten years, more than 1,000 additional communications satellites will be launched," said Megan Fitzgerald, Vice President of Satellite Operations, Globalstar. "As the demand for satellites increases, so too will the need for experts in this field. America's youth today can start preparing for a satellite communications career by learning about the technology." GLOBALSTAR FACTS ABOUT SATELLITES FOR NATIONAL SCIENCE AND TECHNOLOGY WEEK What is a Satellite? By definition, a satellite is any celestial body orbiting around a planet or star. Thus, the moon is a satellite of the Earth and the Earth is a satellite of the sun. But most people think of satellites as the man-made objects put in place by rockets that are used to transmit phone calls, take pictures of the Earth and other planets, map weather patterns and send programs to TV sets around the world. A Brief History of Satellites 1957 The first satellite, Sputnik, was successfully launched by the Soviet Union. Sputnik circled the globe in little more than an hour and sent radio signals back to Earth. These early radio signals were so strong that they could be picked up by amateurs. 1958 The United States successfully launched its first satellite, Explorer 1. This satellite helped scientists discover the Van Allen radiation belts, which are rings of charged particles trapped in the Earth's magnetic field. These charged particles can sometimes be seen from Earth -- far in the north or far in the south -- and look like light shows. 1999 According to the United States Space Command, today there are nearly 2,600 active satellites in space, with 20 launched by Globalstar. These 2,600 satellites are used in many different fields -- agriculture, meteorology, defense, astronomy, navigation, oceanography and telecommunications. Flying Stars? -- GEOs: Geosynchronous earth-orbiting, or GEO, satellites move around the Earth at the same speed that the Earth rotates around its own axis. They always hover over the same spot. -- LEOs: Other satellites, like the ones used by Globalstar for phone communications, make a trip around the globe every couple of hours. These are called low-earth-orbiting satellites, LEOs. If you look up into the sky on a clear night, you can sometimes see one or two "flying" by as if they were moving stars. A Road Trip to a LEO? -- GEOs orbit the Earth 22,000 miles out in space. If there were a freeway to this location and no traffic, it would take about 15 days to drive there if you didn't stop for breaks. -- LEOs orbit the Earth 900 miles out in space. If there were a freeway to this location and no traffic, it would take about 15 hours to drive there if you didn't stop for breaks. Faster Than the Fastest Plane -- Globalstar satellites travel approximately 16,000 mph. By comparison, the world's fastest and only supersonic passenger airplane, the British/French Concorde, travels at 1,300 mph. The Life of a Globalstar Satellite -- Before Globalstar can launch a satellite, it has to submit each satellite to 30 days of rigorous testing. Part of this testing includes placing the satellite in a vacuum capsule that simulates the environment and temperatures of outer space. -- Over the course of testing, each satellite will undergo more than 50 labor-intensive inspections. -- Once the inspections are complete, the satellites must be transported five at a time in a boxcar or truck to one of the world's few rocket launch pads. -- The entire process of building, testing and transporting the satellites takes about two years. -- During their average seven-and-a-half-year lifetime, the Globalstar satellites will use the sun's rays to recharge their batteries and they will send phone calls to and from different points on Earth. -- Once the satellites exhaust their usage, they are moved into what is called their "graveyard" orbit; this is where the satellites will reside indefinitely. About Globalstar Globalstar, led by founding partner **Loral** Space & Communications, is a partnership of the world's leading telecommunications service providers and equipment manufacturers, including Qualcomm Incorporated, AirTouch Communications, Alcatel, Alenia, China Telecom (HK), DACOM, DaimlerChrysler Aerospace, Elsacom (a Finmeccanica company), France Telecom, Hyundai, Space Systems/**Loral** and Vodafone. For more information, visit Globalstar's web site at www.globalstar.com. -0- gdr/sf* CONTACT: Globalstar Donna Berry or Jill Davey, 415/974-6200 jdavey@gcigroup.com KEYWORD: CALIFORNIA INDUSTRY KEYWORD: COMED COMPUTERS/ELECTRONICS TELECOMMUNICATIONS Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. URL: businesswire.com {BusinessWire:Technology-0426.00627} 04/26/99



To: Michael Young who wrote (4194)4/26/1999 8:35:00 PM
From: djane  Respond to of 29987
 
Wired. Iridium Reports Huge Loss


updated 4:45 p.m. 26.Apr.99.PDT





by Joanna Glasner

12:10 p.m. 26.Apr.99.PDT
Six months after launching the world's
first global satellite phone network,
Iridium LLC is falling deeper into the red
as it fails to come even close to meeting
sales targets.

On Monday, Iridium (IRID) reported that it
had a loss of US$505 million in the first
three months of the year. In the same
period, revenue was a scant $1.45 million.

More ominous, Iridium is down to just
$195.4 million in cash and cash
equivalents -- meaning that it might have
trouble paying the bills in coming quarters
unless it can quickly raise more cash.

The company blamed poor first-quarter
performance on several factors, including
a shortage of phones, distribution trouble,
and a lack of trained salespeople.
Executives tried to reassure investors
that next quarter will be better.

Last week, Iridium's CEO Edward Staiano
quit because of a "disagreement" with the
board of directors over strategy, the
company said.

"Clearly, we have a great deal of work to
do to improve our marketing, distribution,
and sales activities all over the world,"
said John A. Richardson, Iridium's interim
CEO.

Richardson said that the company plans
to ramp up sales efforts in places where
Iridium has already found customers and
to change its prices and service plans.
Currently, Iridium phones cost about
$3,000 each, which hasn't helped sales.

By the end of March, Iridium had only
7,188 satellite phone customers -- less
than a third of what it had forecast.
Another 2,078 customers signed up for
the company's satellite paging service
and 1,031 for cell-phone service.

Iridium said sales may perk up now that a
key manufacturer, Kyocera, is able to
supply satellite handsets. Kyocera and
Motorola are the main manufacturers of
Iridium phones, and that production
delays by Kyocera earlier this year hurt
Iridium's commercial rollout.

Leo Mondele, Iridium's vice president of
business development, hinted that the
company may cut phone prices, saying
that "in wireless, the evolution on the
product side is always downward in
price." Mondele didn't say when prices
might fall or by how much.

Iridium is also looking for a new head of
marketing, as well as a chief executive
and chief financial officer. The company's
prior CFO, Roy Grant, left the company
earlier this month.

The company's huge loss wasn't a big
surprise. Iridium had said in late March
that it had negotiated a two-month
reprieve to repay lenders. With phone
sales seriously lagging, Iridium said it
didn't have the cash to pay debts.

Nevertheless, just a few hours after
Monday's disastrous earnings
announcement, Iridium was hit with a
shareholder lawsuit. Filed by Wolf
Haldenstein Adler Freeman & Herz, the
suit accuses the company of defrauding
investors by withholding information
about handset production delays and
technical difficulties.


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