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BUSINESS
March 17, 2000 |
Venture Partners Inc., a closely held investment company controlled by Rolling Hills investor Gene Curcio, said it made a $25-million bid for the assets of Iridium--a tiny fraction of the more than $7 billion sunk into the system of 66 telecommunications satellites. The bid probably would not be enough to prevent the bankrupt satellite-phone company from shutting down today. The U.S. Bankruptcy Court in Manhattan will decide whether to accept the bid or any others that may have been submitted.
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BUSINESS
March 17, 2000 |
Venture Partners Inc., a closely held investment company controlled by Rolling Hills investor Gene Curcio, said it made a $25-million bid for the assets of Iridium--a tiny fraction of the more than $7 billion sunk into the system of 66 telecommunications satellites. The bid probably would not be enough to prevent the bankrupt satellite-phone company from shutting down today. The U.S. Bankruptcy Court in Manhattan will decide whether to accept the bid or any others that may have been submitted.
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BUSINESS
February 19, 1998 | Reuters
Lucent Technologies, the manufacturing company spun off in 1996 by AT&T Corp., has formed a venture capital fund to invest in new technologies, and its chairman will step down to head the unit, the company said. The new fund, Lucent Venture Partners Inc., will be financed initially with $100 million and seek investments in emerging technologies such as data networking, semiconductors and communications software, Lucent said.
BUSINESS
November 5, 1996 | BARBARA MURPHY
Hayden Leason has been elected chairman of the board of directors of Advanced Photonix in Camarillo. James W. Ward, who is stepping down as chairman, will remain a member of the board of directors. Leason, who has been a director of the company since July 1995, founded Filtertek Inc., a designer and manufacturer of specialty filtration elements. He served as chairman and chief executive officer of Filtertek until 1992, when he sold his interest to Schawk Inc.
BUSINESS
March 21, 2000 | MICHAEL A. HILTZIK, TIMES STAFF WRITER
Like Costco shoppers smelling a bargain, three bidders for the failed satellite phone network Iridium emerged Monday. But the company said it doubted they were serious candidates to take over the multibillion-dollar system. The "constellation" of 66 satellites "is not an asset that you can bid $1 for, because it costs money to operate," said Robert Beury, an attorney for Washington-based Iridium. Iridium, which was conceived by engineers at Motorola Corp.
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