Corporations: Comsat's First Try

The Communications Satellite Corp. —Comsat to most Americans—stands unique among U.S. firms. Far more than just a business, it is the first venture into space by free enterprise. It was founded by Congress as the first chartered U.S. company in more than a century, and its stockholders range from the giant communications companies, which own 50%, to little investors all over the U.S. It has been watched with proprietary sternness by legislators and the White House, poked and prodded by Wall Street and followed with intense interest by millions of Americans. This week all eyes are on Comsat as...