Russia's failed launches exacerbates the shortage of satellite capacity world wide. When Iridium's satellites are launched and can handle a variety of communication technologies they will benefit from this shortage. The risks that the launches are funded is non existent if you believe French banks will be around in 18 months. The technology risk is also very small due to the large number of launches. HIgh short interest also. This could run a while
Uh! The Proton that failed was carrying GPS satellites? GPS satellites do not carry traffic/provide capacity.
Still 4 years away from when the full constellation is currently scheduled to be launched.. I personally don't expect a full constellation until 2020 or 2021. What does the technology risk have to do with the large number of launches? The more launches you do, the greater your risk of a single launch failure. Given SpaceX's current manifest. They would have to have a lunch every 41 days in order to work through the manifest backlog for the first SpaceX Iridium NEXT to be launched at the end of 2015. Currently, they are launching twice a year. (180 days)
Nobody cares what you think " personally ". Capacity in all forms is tight and the current sats are working well enough to keep this company generating huge cash flow. A greater number of launches spreads the risk. If a few fail the constellation still functions well but without full capacity. It still generates cash flow and will be blended with the current constellation. The cash flow going forward will be many multiples of current. Your short position should have been covered my friend. How does it feel to be screwed