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As its financial foundation appears to be crumbling, satellite phone company Globalstar USA announced plans to provide free phone service for officials and media associated with the Iditarod sled dog race in Alaska. Globalstar also will name the winner of its “Most Improved Musher” award at the race's conclusion.
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Notes from the fine print
A caveat was revealed last week to Lucent Technologies' $6.5 billion credit facility, which kept its debt rating from falling to junk status and its stock price from plummeting further. To secure the financing, Lucent promised lending institutions it would not lose more than $2.35 billion during the first three quarters of this year — a standard that could prove to be challenging to the struggling vendor.
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© 2012 Penton Media Inc.
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