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Last week, in a filing with the U.S. Securities and Exchange Commission, it became clear that the new majority owners of Iridium are from Brazil, Saudi Arabia and elsewhere. You will recall that the only reason there even is still an Iridium is that a contract was signed with the U.S. military providing a couple of years of global secure communications.
Meanwhile, the new owners are working to get the actual spectrum licenses transferred -- something prevented by U.S. law for groups with over 25% foreign ownership, unless waived by the Federal Communications Commission. Next move: Michael Powell, head of the commission. Maybe having Dad, one of the guys who won the Gulf War, be Secretary of State at the same time as your tenure wasn't such a great idea after all. My, it's getting stuffy in here.
And then you can flash over to Oz, where the Australian Defence Department just found out that its secure satellite communications joint venture with Cable and Wireless' Optus is about to be owned by Singapore Telecom, 78% owned by the Singapore government. Think, China. The C1 satellite system is set to carry highly sensitive Australian military communications when launched next year; meanwhile, the Aussie Foreign Investment Review Board has not passed on the deal yet.
I suppose it wouldn't be easier just to give up war altogether? This kind of problem is going to become commonplace in the next few years.
A. As Bill Gates might say, I think Alan is a little confused. Right now, he appears to be backpedaling, but not fast enough. Knowing his reliance on Purchasing Manager reports, he and his crew are, I fear, taking some/too much solace from the depressing but marginally-improved National Purchasing Managers report for last month, which still had us in a declining economy, just not declining quite as fast as before.