Risks Soar, The Rockets Don’t

Risks Soar, The Rockets Don’t

Today’s rocket failures and capital flight may subside in time for other projects now being planned. Teledesic, a 288-satellite “Internet in the sky” backed by cell-phone pioneer Craig O. McCaw and Microsoft Corp.’s William H. Gates III, has already raised $1 billion from Motorola Inc., Boeing Co., and other sources to help with its 2003 launch. “Our investors have a long-term perspective,” says a spokesman. But higher launch and insurance costs are throwing Teledesic’s $9 billion budget into doubt. “A more reasonable figure is $15 billion, but they’re not willing to say that yet for fear of scaring off Wall Street,” says Marco Caceres of researcher Teal Group. Teledesic plans eventually to go public.

Tags Teledesic Media Outlet: Bloomberg News, Business Week Featured Analyst Marco A. Caceres

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