Terrestar Cuts Staff To Preserve Cast

摘要

Start-up mobile satellite services provider TerreStar Corp.'s decision to dismiss its management team, cut its staff by some 40 percent and slow its investment in a ground-based infrastructure will permit it to continue to operate with its available cash on hand until mid-2009 - several months after its first satellite is scheduled for launch, TerreStar Chief Technical Officer Dennis W. Matheson said April 25. In an interview, Matheson said no major strategy changes are expected at the company in the wake of the changes and the addition of satellite-telephone provider EchoStar as a major TerreStar shareholder. But he said TerreStar's board of directors may decide to place less emphasis, in the near term, on securing a European license for its S-band mobile satellite system and instead focus on building the North American business.