Iridium Satellite Communications Are the Wave of the Future

Wisely, Hugh D.
February 2004
U.S. Naval Institute Proceedings;Feb2004, Vol. 130 Issue 2, p76
Conference Proceeding
Not long ago, before Enron's fall from grace, a satellite communications venture called Iridium LLC was one of the most highly publicized bankruptcies in the United States. A group of private investors led by Dan Colussy, the former head of Pan American Airlines, saw the opportunity and bought the company out of bankruptcy for a mere $25 million. At the same time, the new owners secured a two-year, $72-million contract with the United State Department of Defense. To the contrary of all rumors, the new Iridium has made significant growth in the commercial and military sectors.


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