Posted by Mandy Barton on December 07, 2000 at 13:03:42:
Pentagon saves Iridium satellites: The U.S. Department of Defense is stepping in to prevent $5 billion worth of Iridium communications satellites from falling to Earth and triggering possible "widespread anxiety."
Staving off a fiery end to the 66-satellite necklace and its spares, the Pentagon awarded a projected two-year, $72 million communications contract to seal a new ownership deal worked out in a New York bankruptcy court.
The new owners, led by Dan Colussy, president of Pan American World Airways from 1978 to 1980, have contracted with Boeing to take over operation of the system from electronics giant Motorola, Pentagon officials said.