Rewind: Digging through the WT archives
<b>June 4, 1992: Pentagon to prop up critical defense contractors</b>The Department of Defense, in what is being heralded as a major policy shift, is considering shoring up specific defense contractors whose supply of products designated as critical to U.S. national security is endangered.
The Department of Defense, in what is being heralded as a major policy shift, is considering shoring up specific defense contractors whose supply of products designated as critical to U.S. national security is endangered.Today, the once-troubled defense industry is helping to shore up Wall Street. Responding to strong market interest, Iridium World Communications Ltd. has decided to offer 12 million shares of common stock ? two million more than originally planned ? for its initial public offering. The shares are valued at $20 each, which will allow the company to raise $240 million.In May 1998, the company's stock hit an all-time high of more than $70 per share. In August 1999, the company filed for bankruptcy protection. In December 2000, Iridium Satellite LLC bought the physical assets for $25 million and is now a successful defense contractor.
June 4, 1992: Pentagon to prop up critical defense contractors
June 12, 1997: Iridium increases number of IPO shares
June 12, 1997: Iridium increases number of IPO shares
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