GlobalStar Goes Bankrupt Too
from the why-not? dept
Having learned nothing from Iridium, GlobalStar continued spending big on its satellite phone project and finally realized that, well, it's not the sort of business that makes the initial capital expenditure worthwhile. No one bought the phones. No one used the phones, and they don't have much money left. They've now filed for bankruptcy. Unlike Iridium, however, they're not planning to shut down the service entirely - and instead have worked out a deal with their creditors which they hope will give them a new start. Perhaps it will, but it doesn't change the fact that the demand for satellite phones is small, and probably decreasing over time.
Thank you for reading this Techdirt post. With so many things competing for everyone’s attention these days, we really appreciate you giving us your time. We work hard every day to put quality content out there for our community.
Techdirt is one of the few remaining truly independent media outlets. We do not have a giant corporation behind us, and we rely heavily on our community to support us, in an age when advertisers are increasingly uninterested in sponsoring small, independent sites — especially a site like ours that is unwilling to pull punches in its reporting and analysis.
While other websites have resorted to paywalls, registration requirements, and increasingly annoying/intrusive advertising, we have always kept Techdirt open and available to anyone. But in order to continue doing so, we need your support. We offer a variety of ways for our readers to support us, from direct donations to special subscriptions and cool merchandise — and every little bit helps. Thank you.
–The Techdirt Team
