Satellite firms make a comeback
Government market proved reliable customer for firms that spent billions, but saw hopes of consumer demand whither, according to the Washington Post.
The consumer market was a bust for satellite firms such as
Iridium and American Mobile Satellite, but the government market
proved a boon for these late 1990s darlings, according to a Washington Post report thisweek.
Iridium built a global network of communications satellites for
$6 billion but found few takers and filed for bankruptcy. When it
emerged from that proceeding, it had one customer, the U.S.
government.
NEXT STORY: FEMA suspends TopOff