Wall Street doesn't appreciate subtleties. A lot of very smart people will debate the details of how and why Iridium's plans for a worldwide satellite-based phone business unraveled: too expensive, too ahead of its time or simply not given a chance to mature; but investors aren't listening. From their point of view, there's $5 billion worth of assets, 66 satellites plus a few spares, uselessly turning their final few orbits before they're sent flaming through the ...

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