BOEING WINS DEAL TO BUILD TELEDESIC SATELLITE SYSTEM.Byline: George Tibbits George Tibbits was an American politician and a member of the United States House of Representatives from New York. He was born in Warwick, Rhode Island on January 14, 1763. He pursued classical studies and engaged in business in Lansingburg, New York in 1784. Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. Boeing Co. on Tuesday agreed to invest $100 million and won the contract to be the prime contractor in Bill Gates' and Craig McCaw's plan to blanket the globe with communications satellites. Boeing will own 10 percent of Teledesic Corp., which plans to spend $9 billion to put 840 satellites in low-Earth orbit See LEO. by 2002 to allow wireless access to the Internet and other telecommunications services. The system would be capable of high-speed data transmission, allowing Internet users, for example, to download pages 60 times faster than today's fastest modems. The system also would allow global video-teleconferencing, paging, faxing and voice communications. Gates, the chairman of Microsoft Corp., and McCaw, who sold McCaw Cellular Communications to AT&T in 1994 for $11.5 billion, are the primary investors in Teledesic, a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. . McCaw said the goal is to give the remotest Third-World village access to the same level of service as a big-city corporation using a fiber-optics network. CAPTION(S): Photo Photo: David Twyver, left, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Teledesic and Boeing Defense and Space Group President Alan Mulally shake hands on their deal Tuesday. |
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