Can Iridium Beat The Clock?
Last November, Iridium made lots of promises to investors and lenders as it prepared for the long-awaited launch of its $5 billion global satellite phone service. The Motorola-backed outfit proposed to offer phone service to virtually anywhere on Earth by means of a network of 66 satellites. By the end of March, the execs pledged, they would have 52,000 subscribers from among the world's business elite, $30 million in revenues, and hope of making Iridium pay.
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