The Falcon 1 rocket, from SpaceX was successfully launched from Kwajalein Atoll in the Pacific. However, the craft was not able to reach it's intended orbit before telemetry was lost and the nose cone was jettisoned. This is the second test launch for the DARPA financed Falcon 1, and the second time the craft has failed to meet expectations. Despite this, Elon Musk - co-founder of PayPal and CEO of SpaceX, believes that the launch was a success. At least all of the hardware wasn't lost in a launch pad fireball, I suppose.

This article from SpaceX has some very cool after flight analysis and in-flight images. The article explains that the reason for the failure to achieve orbit was due to Telemetry shows that engine shutdown occurred only about a minute and a half before schedule (roughly T + 7.5 mins), due to the oscillations causing propellant to slosh away from the sump. More interestingly SpaceX also outlines their future satelitte launches, including the TacSat 1 US Navy satelitte and the Malaysian Space Agency's Razaksat. They also have nine other flights planned.

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