Trade Iridium Communications

Iridium Communications Inc. (formerly Iridium Satellite LLC) is an American public trading company based in McLean, Virginia. 11. Iridium operates the Iridium constellation, a system of 66 active satellites (and 9 spare parts in space) used in voice communications and data worldwide from handheld satellite phones and other future sending units. Iridium communications service was launched on November 1, 1998 by what was then Iridium SSC. U.S. Vice President Al Gore made his first call from Iridium to Gilbert Grosvenor, grandson of Alexander Graham Bell and president of the National Geographic Society. Motorola has provided technology and great financial support. The company's logo represents the big bear. The company derives its name from the 77-year-old chemical element Iridium, which is equivalent to the first number of satellites to be deployed. The company entered into Chapter 11 bankruptcy nine months later, on August 13, 1999. The telephones could not operate as promoted by even a whole range of satellites, requiring a huge initial capital cost of billions of dollars. The cost of the service was high for many users, reception at home was difficult, and the large and expensive hand-held devices compared to landline mobile phones discouraged their adoption among potential users. Mismanagement is another key factor mentioned in the failure of the original program. In 1999, CNN writer David Rudd provided details on how to apply for iridium. It was sent to information groups, but not contacted by a sales representative. He encountered programming problems on the Iridium website, and "running" from company representatives. After Iridium filed for bankruptcy, it noted the "difficulty of earning subscribers". Iridium's initial commercial failure had a damping effect on other proposed commercial satellite constellation projects, including Teledisic. Other schemes (Orpcom, ICO Global Communications and Globalstar) followed Iridium in bankruptcy protection, while a number of other proposed schemes were not built. In August 2000, Motorola announced that iridium satellites would have to be cancelled; however, it remained in orbit and operational. In December 2000, the U.S. government intervened to save Iridium by offering $72 million for a two-year contract and approving the sale of fire to the company from the U.S. Bankruptcy Court for $25 million, in March 2001. This has erased more than $4 billion in debt. Iridium was restarted in 2001 by the newly founded Iridium Satellite Llc, which was owned by a group of private investors. On February 10, 2009, Iridium 33 collided with a dissolved Russian satellite, Kosmos 2251, 800 kilometers (500 miles) over Siberia. Two large debris clouds were created.