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Technology Stocks : Loral Space & Communications
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To: Valueman who wrote (6495)7/19/1999 2:33:00 PM
From: Jeff Vayda  Read Replies (2) of 10852
 
Vman: Loral told LM Atlas that T7 would not be coming and would go to Ariane.

LM said, "Fine, we will keep your $40 mill deposit."

"Hey I guess we need to talk about this." Loral replied.

My guess is the money will be put in credit for future launches. LM cant afford to be giving money back, their launch business has been dragging them down for awhile and the street slammed the stock a couple months back when the heads told them the situation was worse than they originally thought.

Perhaps Senator Rorenbacher's bill will help: (thanks Aerospace Daily)

Rohrabacher introduces bill ordering quick export approval for satellites

REP. DANA ROHRABACHER (R-Calif.) has introduced legislation mandating
expedited export approval for "commercial satellites, satellite
technologies, their components and systems to NATO allies, major non-NATO
allies and other friendly countries." Also covered in the amendment to the
fiscal 2000 State Dept. authorization is data needed for launch failure and
insurance purposes; bid information for foreign procurements, and
information on the reexport of unimproved materials. State's Office of
Defense Trade Controls gets $11 million in earmarked funds to do the work.
Rohrabacher, chair of the House Science space and aeronautics subcommittee,
would specifically prohibit expedited approval for exports to China.

Copyright 1999 The McGraw-Hill Companies, Inc.

Jeff Vayda
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