OneWeb files for bankruptcy
Capitalism in space: OneWeb yesterday made official the rumors from the past week by filing for bankruptcy in the United States.
It appears that those rumors were essentially true, that one of the company’s biggest investors, Softbank, was having financial trouble due to the stock market crash caused by the Wuhan flu panic, and was not able to continue its investment in OneWeb. The result was that OneWeb could not pay its creditors, the biggest of which was Arianespace, which was managing the launch of most of the company’s satellites, using Russian Soyuz rockets from either French Guiana or Kazakhstan.
With about 18% of its constellation already in orbit and the rest pretty much ready for launch this year, the company has valuable assets that in bankruptcy will have value. It will likely be sold and continue operations under new management.
In the meantime this filing will hurt the bottom line of Arianespace and Russia.
Now available in hardback and paperback as well as ebook!
From the press release: In this ground-breaking new history of early America, historian Robert Zimmerman not only exposes the lie behind The New York Times 1619 Project that falsely claims slavery is central to the history of the United States, he also provides profound lessons about the nature of human societies, lessons important for Americans today as well as for all future settlers on Mars and elsewhere in space.
Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space, is a riveting page-turning story that documents how slavery slowly became pervasive in the southern British colonies of North America, colonies founded by a people and culture that not only did not allow slavery but in every way were hostile to the practice.
Conscious Choice does more however. In telling the tragic history of the Virginia colony and the rise of slavery there, Zimmerman lays out the proper path for creating healthy societies in places like the Moon and Mars.
“Zimmerman’s ground-breaking history provides every future generation the basic framework for establishing new societies on other worlds. We would be wise to heed what he says.” —Robert Zubrin, founder of founder of the Mars Society.
All editions are available at Amazon, Barnes & Noble, and all book vendors, with the ebook priced at $5.99 before discount. The ebook can also be purchased direct from my ebook publisher, ebookit, in which case you don't support the big tech companies and I get a bigger cut much sooner.
Autographed printed copies are also available at discount directly from me (hardback $24.95; paperback $14.95; Shipping cost for either: $5.00). Just email me at zimmerman @ nasw dot org.
Capitalism in space: OneWeb yesterday made official the rumors from the past week by filing for bankruptcy in the United States.
It appears that those rumors were essentially true, that one of the company’s biggest investors, Softbank, was having financial trouble due to the stock market crash caused by the Wuhan flu panic, and was not able to continue its investment in OneWeb. The result was that OneWeb could not pay its creditors, the biggest of which was Arianespace, which was managing the launch of most of the company’s satellites, using Russian Soyuz rockets from either French Guiana or Kazakhstan.
With about 18% of its constellation already in orbit and the rest pretty much ready for launch this year, the company has valuable assets that in bankruptcy will have value. It will likely be sold and continue operations under new management.
In the meantime this filing will hurt the bottom line of Arianespace and Russia.
Now available in hardback and paperback as well as ebook!
From the press release: In this ground-breaking new history of early America, historian Robert Zimmerman not only exposes the lie behind The New York Times 1619 Project that falsely claims slavery is central to the history of the United States, he also provides profound lessons about the nature of human societies, lessons important for Americans today as well as for all future settlers on Mars and elsewhere in space.
Conscious Choice: The origins of slavery in America and why it matters today and for our future in outer space, is a riveting page-turning story that documents how slavery slowly became pervasive in the southern British colonies of North America, colonies founded by a people and culture that not only did not allow slavery but in every way were hostile to the practice.
Conscious Choice does more however. In telling the tragic history of the Virginia colony and the rise of slavery there, Zimmerman lays out the proper path for creating healthy societies in places like the Moon and Mars.
“Zimmerman’s ground-breaking history provides every future generation the basic framework for establishing new societies on other worlds. We would be wise to heed what he says.” —Robert Zubrin, founder of founder of the Mars Society.
All editions are available at Amazon, Barnes & Noble, and all book vendors, with the ebook priced at $5.99 before discount. The ebook can also be purchased direct from my ebook publisher, ebookit, in which case you don't support the big tech companies and I get a bigger cut much sooner.
Autographed printed copies are also available at discount directly from me (hardback $24.95; paperback $14.95; Shipping cost for either: $5.00). Just email me at zimmerman @ nasw dot org.
Go to “cases,” and scroll down the alphabetical list for “Oneweb Global limited et al”
(Case No. 20-22437)
https://omniagentsolutions.com/home
What did they file, for reorganization or liquidation?
DJN-
Chapter 11.