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

To: Bill Jackson who wrote (1700)	4/26/1999 11:01:00 PM
From: Herc	Read Replies (2) \| Respond to of 2693

IRID was summarily, but fairly, trashed by an analyst on Digital Jam tonight. But the gist was that management did a good job of getting the satellites up and running but really screwed up marketing. They spent $140 million on advertising and have less than 10,000 customers signed up so far. (Like duh? How many people can afford a $3000 phone.) Some of their partners, I believe Sprint was one, have done next to nothing. He also anticipated similar technological glitches for the competition as they start up. But the board recognized the problem and sacked the culprits. The next few quarters don't look too good.