Iridium ends legacy satellite service, switches all traffic to Next fleet

Joined
Jul 30, 2008
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#1
I saw this story in Space News and wanted to Share with the Community
Here are a few Lines of the Story

WASHINGTON — With its full second-generation constellation now in orbit, Iridium has transferred all its communications services off of its two-decade-old legacy fleet.

“For the first time since the initial launch of the system over 20 years ago, zero traffic is going through the old satellites,” Matt Desch, CEO of Iridium, said Feb. 6 at the National Press Club here.

The final two satellites in Iridium’s new fleet, called Iridium Next, entered service Feb. 5 at 2:15 p.m. Eastern, completing a refresh that began as the legacy fleet started to lose operational capability.


The Complete Story is at this LINK--> Iridium ends legacy satellite service, switches all traffic to Next fleet - SpaceNews.com
 
Joined
Feb 15, 2009
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Cheese country
#2
Chris Galvin couldn't make it profitable, but these guys seem to have found a way.... Anything else I have to say would probably make me enemies.
 
Joined
Dec 22, 2013
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2,740
#3
Chris Galvin couldn't make it profitable, but these guys seem to have found a way.... Anything else I have to say would probably make me enemies.
I have about 700 shares in Iridium. I bought about 300 initially and when it headed toward the bottom, bought 400 more.

It was stupidity on my part to invest in that. After the dust cleared and I did the math.

((Numbers of active transponders on satellites X numbers of satellites) x % of earth's surface populated) X numbers of minutes per day x billing rate $/minute)) / shareholder equity,,, etc..

If you see where I am going, the revenue would never in my lifetime provide a positive return for investors. The capacity of the satellites and the numbers of subscribers so small that it was a losing proposition. It was plainly obvious to anyone bothering to do the math.

The bankruptcy court gave the entire system away for $25 million, a paltry sum, to the very folks who swindled the early investors.

It will be interesting to see how this next round plays out.
 
Joined
Feb 15, 2009
Messages
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Cheese country
#4
I said I'd be quiet, but I can't (I had batwings on my paycheck for 19+ years). When you can buy all of the R&D, the construction costs and launch costs for a constellation of 66 satellites for $25M, making a profit should be a LOT easier. I always thought that sale deserved legal scrutiny...
 
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