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

To: Marty Rubin who wrote (1873)	5/30/1999 9:44:00 AM
From: dumbmoney	Read Replies (1) \| Respond to of 2693

the numbers are huge, indeed, but if not for getting the 27K by the 31st, everything would have been fine. Not really. For one thing, the two months extension didn't release IRID from subsequent targets, so the secured creditors would still be in control. Basically, the original business plan is a shambles. The expenses are so far out of whack relative to revenue, it's laughable. By the way, some analysts have said that the secured creditors could lose 100% in a bankruptcy. That is not true. The secured credit ($800 million) is backed by a $243 million "reserve capital call" from the limited partners. So the banks are guaranteed to get at least 30% back no matter what. If the entire assets of Iridium are worth more than $557 million to someone, the secured creditors will come out whole.

To: Marty Rubin who wrote (1873)	5/31/1999 2:10:00 PM
From: Bill Jackson	Read Replies (2) \| Respond to of 2693

Marty, This reminds me of the time the Turtle Express was started, and then along came ponies, and then the wires and the railroad entered into it. I doubt any shareholder at this time will see ang upwards movement, apart from chaos type noise. Motorola may try to stir the pot to encourage people, but most advisors see IRID as a dead horse, stop beating it. Iridium is old tech and old think and it is time for it to die. As to salvage of the assets to see how well the secured creds come out?? Thw writing is on the wall and Motorola is on the hook along with the other founders for a certain amount, as dumbmoney says, will that be burned up in expenses leaving only the sale of the ground and orbiting assets to give some recovery to the creditors? It all depends on what the flying assets are worth. If the creds have $2 billion flying they will get their $$ back, and will let the farce play in Rhode Island for a while. If the flying assets have zero or negative(need money to maintain, but have no real value) then it is gongtime. A lot hinges on the versatility of the flying transponders and the degree to which they can be re-orbited. Since they have a lot of fuel they may be able to slowly place them in more useful orbits that will enhance what their transponders can do. I expcet there are people going over this as we speak? Bill

To: Marty Rubin who wrote (1873)	6/21/1999 12:21:00 AM
From: Marty Rubin	Respond to of 2693

THE IRIDIUM INNOVATION --A Word from our [National Geographic] Sponsor [**05 Feb 99] At about 40 pounds (18 kilograms), a previous-generation satellite phone was as big as a carry-on suitcase full of unmarked bills—and just as likely to attract the attention of a jungle smuggler. And to set it up you simply had to unfurl an umbrella-size dish and point it toward the nearest compatible satellite. Now all you have to do is press TALK and wait for the tone—if you've got an Iridium phone. So how does it work? The Iridium phone works in two modes. As a mobile cellular phone it seeks out available service for existing land-based networks. When you turn on your Iridium phone with the World Roaming Service, you're automatically registered with a participating local cellular network. You'll have one telephone number and one telephone bill. Translation: Iridium phones work anywhere cellular service is available. But what if your location is decidedly noncellular—as in the heart of the Amazon rain forest? Simply switch the Iridium phone to satellite mode. Iridium World Satellite service gives you a direct satellite link for both incoming and outgoing communications. The call is then relayed from [] satellite 08>> to satellite until it reaches its destination: either a local [] Iridium gateway 03>>, which connects to the public switched telephone network, or directly to a receiving Iridium phone. Translation: Iridium phones work anywhere. Period. How can Iridium provide direct satellite service in a handheld phone? It's all thanks to LEO, Iridium's Low Earth Orbit constellation of satellites. Other satellite phone systems employ a few satellites floating deep in space. For example, the satellites used by one previous-generation satellite phone are some 22,000 miles [36,000 kilometers] away—which explains the umbrella-size antenna. But with Iridium's 66 satellites orbiting a scant 500 miles (800 kilometers) above sea level, all you need is an Iridium phone. Want to know more? Visit [http://www.iridium.com/ ]. (http://www.nationalgeographic.com/voices/technology.html) ----------------------------------------------------------------- All, Link to Date: infoseek.nationalgeographic.com ** Please visit original (NG's) site to access the two satellite pictures, "satellite 08>>" and "Iridium gateway 03>>," respectfully. The article is pretty old; Hope you enjoy it anyway. lots of things have changed. Marty -)