Word: intelsat
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Only 14 months ago, Richard Colino, 51, was well regarded and prosperous. As director general of the Washington-based International Telecommunications Satellite Organization, or Intelsat, which manages the global satellite- communications system, he had an annual salary of about $250,000, with prospects of hefty increases. His executive perquisites included a chauffeur- driven Lincoln Town Car, an annual housing allowance of about $40,000 and free first-class air travel to anywhere in the world. Colino, who graduated from Amherst and Columbia University School of Law, inspired admiration and sometimes envy among his peers. "In many ways," says a former...
...Colino's world has crumbled. He has declared bankruptcy, his passport has ^ been revoked, and his spacious five-bedroom house in Chevy Chase, Md., has been sold to Columnist George Will for about $950,000. Reason: Colino was fired from Intelsat, and his old job is currently held by Dean Burch, the former Federal Communications Commission chairman. Most crushing of all, Colino faced U.S. District Court Judge Gerhard Gesell in Washington last week and was sentenced to six years in a minimum-security federal prison after pleading guilty to helping defraud Intelsat of $4.8 million. In addition, the defendant...
...January 1984 Colino took office as the first American director general of Intelsat, which was established in 1964 to manage and coordinate global satellite communications among its original eleven member nations. Today Intelsat boasts 114 affiliated countries and owns 13 communications satellites, which handle a billion telephone calls a year. It also provides transmission facilities to television networks for such events as the 1984 Olympic Games and last year's Tokyo economic summit. Intelsat's 1986 revenues: $488 million...
Colino joined Comsat, Intelsat's U.S. affiliate, in 1965. After 15 years he became its representative on Intelsat's board of governors and then jumped to the top rung at the international agency. He took office just as critics, especially within the Reagan Administration, accused Intelsat of obstructing the growth of competing satellite systems that would bypass Comsat. The clever and resourceful attorney moved swiftly to increase Intelsat's flexibility. Among other things, Colino led Intelsat to sell satellite transponders, which are the parts of the orbiters that relay electronic signals, to 13 countries, including Japan and Argentina, which...
...today's communications satellites seem like fast talkers, the next generation will be positively garrulous. Intelsat VI, the 38.7-ft.-long, $100 million marvel of electronics under construction by the Hughes Aircraft Co., will handle as many as 37,000 telephone calls and four television channels simultaneously. The bird's power comes entirely from the sun, whose rays will be captured by 19,000 solar cells encircling the cylindrical satellite and converted directly into electricity...