It's such a cool model I hate to quibble but isn't the scale wrong? The semi-major axis of an object in geosynchronous orbit around the Earth is about 26,000 miles while the radius is about 4,000 miles. So the station should be about 6 Earth radii away (which is also approximately the Earth's circumference). I did a screen capture from Freefall, a Mac satellite simulator, and that is how far Inmarsat 3F5 appears to be.

I suppose a station could be put about anywhere along the cable (like Clarke did in his novel Fountains of Paradise) but the cable would have to extend out to geosynchronous orbit and probably beyond. I still haven't found a good reference for the details of an analysis of all the physics involved.

Edit: That file available for download is a jpeg of the picture, not a placemark. It is compressed in a zip file because the forum software required it.