Teledesic's global wireless plan stalled
Source: USA TODAY
Satellite system Teledesic, one of the most ambitious technology projects ever, is all but dead.
Teledesic announced Wednesday it is suspending work with Italian manufacturer Alenia Spazio, which was to build the system's satellites.
Teledesic co-CEO Craig McCaw blames the "unprecedented" crash of the telecommunications industry and financial markets. He says current conditions make it impossible to build a financially viable system.
"It's hard enough right now for real companies with real customers to make a go of it," says telecom consultant Jeffrey Kagan, noting the devastation among telecom players. "A company that's trying to go where no man has gone before is bound to be doomed."
