Envisioned by cellular pioneer Craig McCaw, backed by Bill Gates — and financed in part by their bottomless wealth — the idea of delivering high-speed Internet via a constellation of satellites seemed almost a sure thing. But after 12 years of management changes, network design revisions and most recently, telecommunications industry turmoil, the vision of an Internet-in-the-sky has come crashing down to Earth. Teledesic's board has halted work by a contractor building two satellites, effectively putting the ambitious idea into deep hibernation. "Obviously by suspending work on the contract, the board of Teledesic is saying, as we see it...
