Iridium's CFO predicts plan to restructure

Article Abstract:

Iridium LLC's chief financial officer, Leo Mondale, stated that bankruptcy protection is not a realistic alternative for the company. According to Mr. Mondale, Iridium will come up with a restructuring strategy that will give the company's shareholders another option other than cash before a 30-day deadline is completed. Mr. Mondale would not mention any details as to a possible restructuring.

Comment:

Chief financial officer Leo Mondale says bankruptcy protection not a realistic alternative for company

Strategy & planning, Radio and Television Broadcasting and Wireless Communications Equipment Manufacturing, Satellite Communications Eqp, Planning, Forecasts and trends, Telecommunications equipment industry, Abstract, Satellite communications systems, Mondale, Leo

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Iridium seeks protection from creditors

Article Abstract:

Iridium LLC filed for bankruptcy protection under Chapter 11 of the US Bankruptcy Code. The bankruptcy filing is just the latest in a series of troubles afflicting the satellite communications industry.

Organizational history, Management, Bankruptcy

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Flextech posts loss, falls behind in digital market

Article Abstract:

Flextech PLC posted a loss of 2.9 million pounds (4.4 million euros) for the first-half of 1999. The company posted profits of 1.7 million pounds during the same period in 1998.

United Kingdom, Sales, profits & dividends, Flextech PLC

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