Communications Satellite Corporation
Communications Satellite Corporation
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Product Details
CompanyCommunications Satellite Corporation
Certificate Type
Common Stock
Date Issued
August 23, 1966
Canceled
Yes
Printer
American Bank Note Company
Signatures
Machine printed
Approximate Size
12" (w) by 8" (h)
Images
Show the exact certificate you will receive
Guaranteed Authentic
Yes
Additional Details
NA
Historical Context
COMSAT Corporation was created by the Communications Satellite Act of 1962 and incorporated as a publicly traded company in 1963. The primary goal of COMSAT was to serve as a public, federally funded corporation intended to develop a commercial and international satellite communication system press. Although the corporation was government regulated, it was equally owned by some major communications corporations and independent investors. COMSAT began operations with its headquarters in Washington, DC, in 1962, with a six-person founding board of directors appointed by President John F. Kennedy, including: Phil Graham who served as Chairman (until his resignation in January 1963); Leo D. Welch, Joseph V. Charyk, David M. Kennedy, George Killion, Leonard H. Marks, and Bruce Sundlun.
In August 1964, COMSAT helped create the International Telecommunications Satellite Consortium (INTELSAT), an international satellite organization with the goal of global satellite coverage that today has 143 member countries and signatories. COMSAT was responsible for the launching of the Early Bird communications satellite, on April 6, 1965.
To further satellite technology, in September 1969, COMSAT opened COMSAT Laboratories, a research and development arm, in Clarksburg, Maryland. The founding director of COMSAT Labs was Bill Pritchard from 1969 to 1973. He was followed by Burton Edelson, director from 1973 to 1982. Dr. Ramesh K. Gupta, director from 1995 to 2000.
Following many open inquiries into ongoing disagreements with major broadcasting companies and COMSAT, the FCC created the Open Skies Policy in June 1972. This policy authorized the use of satellites for domestic broadcast use and encouraged competition between different systems. In 1976, COMSAT deployed Marisat, three geosynchronous satellite systems providing mobile services to the United States Navy and other maritime customers, and Comstar, a domestic satellite system. To separate these activities from its INTELSAT business as required by the Federal Communications Commission, a subsidiary company named Comsat General was formed. In 1982, the Marisat satellites, along with three Marisat Earth stations (two in the US — Southbury, Connecticut, and Santa Paula, California — and one in Japan) formed the initial operating system for the International Maritime Satellite Organization (INMARSAT).
COMSAT provided 2-way communication via geostationary satellite for a number of cruise ships in Caribbean and other offshore applications. The ship on-board system included antenna stabilized with 3-axis gimbals, beacon signal receiver and an active control system to search and lock the antenna on the satellite during the ship maneuvers and severe waves. The system called Startrack was developed by the Canadian company Techwest Data Systems. In 1995, the system was acquired by the UK Marine Data Systems for their floating rigs operations in the North Sea and in 1996 manufacturing moved to Aberdeen, Scotland.
On September 20, 1998, Lockheed Martin Corp. and COMSAT Corp jointly announced a two-phase merger agreement valued at approximately $2.7 billion, contingent upon certain FCC rulings and Congressional legislative accommodations. Upon completion of the transaction, COMSAT would become an integral element of Lockheed Martin Global Telecommunications, a recently formed wholly owned subsidiary of Lockheed Martin Corp. Phase 1 of the transaction was completed via a $49.50 per share purchase of approximately 49% of COMSAT common stock in September 1999, and phase 2 via a one-for-one tax-free exchange of Lockheed Martin common stock for the remaining 51% of COMSAT common stock (approximately 27.5 million shares) in August 2000, at which time the Lockheed Martin stock (NYSE: LMT) was trading at approximately $28.50 per share.
On August 2, 2000, the COMSAT ticker symbol CQ was removed from the New York Stock Exchange.
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Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.
FAQ
Are the certificates offered on your site genuine or reproductions?
All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only.
Are the images presented in your product listings of the exact piece I will receive?
It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive.
How will you ship my order and how much do you charge?
We ship all orders via the United States Postal Service. Most domestic orders are shipped via Ground Advantage. USPS International, Priority and Express Mail, UPS and DHL services are also available, and costs are calculated during checkout. Current charges may be reviewed here.
Can I return my purchase?
Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
Shipping
If your order exceeds $35, and the shipping address is within the United States, shipping via USPS Ground Advantage is FREE!
We make every effort to ship out all orders within 24 hours of receipt.
We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
As soon as your order is shipped you will receive your tracking information via email.
OVERSEAS ORDERS PLEASE NOTE THAT WE DECLARE FULL ORDER VALUE ON ALL SHIPMENTS. CUSTOMER IS RESPONSIBLE FOR ALL VAT/CUSTOMS CHARGES.
Returns
Our goal is to make sure every item you receive is exactly what you had in mind. If you not happy with your purchase, we’ll help you get it sorted in a timely and professional manner.
You can return anything we offer for an exchange, refund or store credit within 30 days of delivery. Return shipping costs may apply, and the item must be in its original condition and packaging.
Any shipping charges collected on the original order are not eligible for a refund.