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Iridium Satellite System Gets Another Chance to Offer Phone Service.

Chicago Tribune (Chicago, IL)

| March 28, 2001 | COPYRIGHT 2007 Chicago Tribune. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Rob Kaiser

Mar. 28--One of Corporate America's bigger blunders in recent years is set to fly again.

The Iridium satellite system--which promised anywhere, anytime phone service, but nearly burnt up in the atmosphere--will go live again Friday for commercial customers. Instead of marketing the service to a broad audience, including international business travelers, Iridium's new owners are targeting people in remote areas, such as those aboard cargo ships, oil rig workers and adventure travelers.

The new Iridium has a distinct advantage over the old one: It was able to fish the $5 billion satellite system out of bankruptcy court for $25 million.

Now the…

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