[FPSPACE] More on MirCorp

Larry Klaes lklaes@bbn.com
Fri, 22 Sep 2000 14:13:20 -0400


Would Mir make a really good tax shelter, like the
Cayman Islands?


At 01:59 PM 09/22/2000 -0400, Dwayne Allen Day wrote:

>On Fri, 22 Sep 2000, Anatoly Zak wrote:
>
>> MSNBC piece partially based on this story I did this week:
>> http://www.space.com/news/spacestation/mir_flight_000919.html
>> 
>> Yes, MirCorp people told me they needed more money to keep Mir operational
>> in addition to $40 million they currently raised, and they were very
>> optimistic that new customers will be found and the station will continue
>> flying. Tito does go to Mir, not to the ISS, it is decided and was paid
for.
>
>Well, I wonder how much of that $40 million is actually in MirCorp's
>pockets right now.  I doubt that they have all of it.  It may be in
>escrow.  
>
>Think about it:  if you were Dennis Tito or Mark Burnett
>(Survivor) would you give MirCorp $20 million (each) up front for a
>service that you don't get until 6-12 months from now?  First, there is
>the issue of not wanting to give away money for something that might not
>happen at all (why not 50% now and 50% upon completion?).  Second, if I
>had $20 million, I would want to keep it in the bank, earning interest,
>for as long as possible.  So I would argue with MirCorp that I should only
>pay part of the money now and the rest months from now.
>
>I don't know of many businesses that pay all of their cash up front and
>then wait 6-12 months for delivery.
>
>
>> Next Mir expedition not "might" be downsized, like Lenorovits said, it WAS
>> downsized already: 10-14 days instead of 3-4 months. MirCopr can't pay
for a
>> replacement crew at this point, and Tito does not want to fly for three
>> months I was told. 
>
>Yeah, but are they talking about additional downsizing of missions?  This
>part struck me as odd, because it seemed as if the MSNBC article was based
>upon new reporting--unless the reporter did not realize that the missions
>had already been downsized and he was reporting this as "new to him."
>
>(I noted two months or so ago that MirCorp managed to spin their story
>very well when they announced their next missions--nobody noticed that
>they essentially slipped their fall 2000 mission to early 2001.  Instead,
>it was covered as a major announcement of their plans.)
>
>
>I think that the financing of this thing could end very ugly.  What
>happens if MirCorp folds before Tito and Burnett get their part of the
>deal?  What if MirCorp goes bankrupt?  Do they lose their cash?
>
>I think it was Mr. Portree who said that this whole thing seems a lot like
>Biosphere II.  Remember how that ended--with lawsuits and court orders and
>a mutiny.
>
>
>
>DDAY
>
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