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Talk:COMSAT

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Latest comment: 15 years ago1 comment1 person in discussion

The body of this page needs updating. It reads like it was written from a Lockheed martin press release. dnjh (talk) 23:08, 20 December 2008 (UTC) I'm simply noting this for the record: I distinctly remember reading in the New York times with my boss in January 1964 about ComSat having an IPO that winter. He thought it might be a good stock to buy. I was concerned that if the first launch failed in April the $10 per share investment would be lost. Nevertheless I followed the stock on a daily basis. The stock value rose progressively and the launch was successful. At some point the value per share reached approximately $85 per share at which time the stock split. The same stock cycle was repeated a second time and split a second time. So the date stated for public trading is off by a year.[John Leavitt] — Preceding unsigned comment added by 96.32.57.147 (talk) 18:52, 11 July 2019 (UTC)Reply

Money money money

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Latest comment: 14 years ago1 comment1 person in discussion

Has COMSAT Corp ever made a profit? If so, starting when? TREKphiler any time you're ready, Uhura 09:38, 3 December 2009 (UTC)Reply

Comsat Angels

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Latest comment: 14 years ago1 comment1 person in discussion

I'm wondering if that topic is relevant. Comments? --Sparks1911 (talk) 04:35, 11 January 2010 (UTC)Reply

COMSAT Profitability

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Latest comment: 13 years ago2 comments1 person in discussion

COMSAT had revenues every year from 1965 until its dissolution. COMSAT had profits from 1968 to the early-mid 1980s when money-losing projects cause major losses every few years — Preceding unsigned comment added by Djwhalen (talk • contribs) 18:38, 26 August 2011 (UTC)Reply

HISTORY OF COMMUNICATIONS SATELLITE CORPORATION

Genesis

On May 25, 1961, President John F. Kennedy, delivered a “Special Message on Urgent National Needs” to a Joint Session of Congress. In the section of that speech dealing with Space, he called for the program to land a man on the moon; he further stated that we should “make the most of our present leadership, by accelerating the use of space satellites for world-wide communications.” The Congress took up the matter, and after a significant debate over the issue of whether the US government or private industry should provide satellite communications, it enacted, and the President signed into law on August 31, 1962, the Communications Satellite Act of 1962. The Act stated:

It is the policy of the United States to establish, in cooperation with other countries, as expeditiously as practicable, a commercial communications satellite system . . . and that United States participation in the system shall be in the form of a private corporation . . . .

In essence the statute created a private corporation with a public mandate. The legislation provided that stock could be owned both by the general public and communications common carriers. However, the carriers were limited to an aggregate maximum ownership of 50% of the stock. No non-carrier stockholder could own more than 10%.

President Kennedy appointed 13 Incorporators* on October 15, 1962, who met on October 22 and elected as their Chairman, Philip L. Graham, President of the Washington Post. The Incorporators proceeded to take the many steps needed to create the corporation, resulting in the incorporation in the District of Columbia on February 1, 1963, of the Communications Satellite Corporation (hereinafter, COMSAT). The Incorporators, except Mr. Graham who resigned in January 1963 due to ill health, became the directors of the corporation. In April of that year the Congress formally approved the list of Incorporators, to which had been added Leo D. Welch, former Chairman of the Board, Standard Oil Company of New Jersey, and Joseph V. Charyk, former Under Secretary of the Air Force, who had been elected, respectively, to the positions of Chairman and Chief Executive Officer, and President.

The corporation had many tasks before it to achieve its mandate to establish a global communications satellite system. Among other things, it had to work with other countries to develop a structure of governance for the global system, solve the myriad technical problems of a commercial communications satellite system, and undertake an initial public offering that would provide sufficient funds for its share of the cost of the global system. Later in its history, as it matured and the technology developed, COMSAT embarked upon other activities. Set forth below are discussions of each of these matters, and the further history of the corporation through to its purchase by Lockheed Martin Corporation.

  • John T. Connor; George J. Feldman; Beardsley Graham; Philip I. Graham; Sam Harris; Edgar F. Kaiser; David M. Kennedy; George Killion; Byrne Litschgi; Leonard H. Marks; Bruce G. Sundlun; Sidney J. Weinberg; and Leonard Woodcock.

Governance of COMSAT

International Arrangements – INTELSAT Matters

Technical Development of a Global System

Financing of COMSAT

Research & Development

INMARSAT Development

Domestic Satellite Matters

Non-INTELSAT and INMARSAT Businesses

Purchase of COMSAT by Lockheed Martin

Djwhalen (talk) 18:40, 26 August 2011 (UTC)Reply

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Latest comment: 6 years ago1 comment1 person in discussion

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