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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 60.75

-0.5%

Nov 28 9:30 AM EST

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To: Valueman who wrote (5541)	7/6/1999 7:47:00 PM
From: djane	Read Replies (1) of 29987

Good news on State Dept processing export applications? aviationweek.com BETTER DAYS AHEAD? The U.S. State Dept. is hiring more staffers to free up a logjam in processing export applications for satellites and other U.S.-built aerospace components. Eric D. Newsome, assistant secretary of State for political military affairs, told a Senate panel that $2 million in extra annual funding will be used to augment the 14 State Dept. and four Defense Dept. officers responsible for reviewing 46,000 munitions export applications last year (AW&ST May 24, p. 29). But, he cautioned, improvements will not be immediate. Lockheed Martin Missiles & Space President and CEO Thomas A. Corcoran warned the panel that the strict export controls implemented to prevent China from acquiring sensitive U.S. technology actually could harm national security. He said the restrictions will benefit non-U.S. companies "that are more likely to sell advanced technology to countries with fewer restraints."

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