Word: panamsat
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...PanAmSat launches the first privately owned communications satellite...
...PANAMSAT Its satellite goes on the fritz, and the pagers went off. America rejoiced in its beeplessness...
Sometimes in business you just have to grin and bear the odd $100 million loss, and that's what PanAmSat senior VP Robert Bednarek is preparing to do with Wednesday's announcement that the company isn't likely to recover its wayward Galaxy 4 satellite. The numbers are not pretty: The company had insured Galaxy 4 for about $150 million, but it will cost an estimated $250 million to construct, launch and insure a replacement next year. That's not even counting losses from service disruptions brought on by Galaxy 4's demise...
...company says it could take a week to reorient antennas and restore service to the nation's pagers and radio feeds, not to mention ATMs -- which PanAmSat will probably need to be using early and often over the next few months...
...homework," but we swear that the reason our Reuters news feeds are down is probably because of the same glitch that knocked out up to 90 percent of America's pagers, as well as various radio and TV broadcasts and even many card transactions at gas pumps and ATMs -- PanAmSat's Galaxy 4 satellite has gone a-wanderin'. After the failure of onboard control systems left technicians powerless to stop the key communications satellite from drifting out of position yesterday evening, the binary fabric of our electronic society began to unravel. To the relief of everyone from doctors on call...
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