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Technology Stocks : Loral Space & Communications

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To: Geoff who wrote (2065)	2/27/1998 12:46:00 PM
From: Valueman	Read Replies (3) of 10852

Sorry everyone--if Angelo returns, it is my fault. I just had to post this on the ORBI thread: Angelo!!!! ORBI LOSES CONTRACT!!!!!! NOW WHAT DO WE DO???????? NASA announced today the $55 million Clark Earth-imaging satellite program has been cancelled due mainly by 15% cost overruns. The Clark contract is currently held by Orbital Sciences Corp, based in Dulles, Virginia, which inherited the program after acquiring CTA Space Systems, Inc. Clark was part of NASA's Small Spacecraft Technology Initiative (SSTI) program which also included the another mission called Lewis. The $64.8 million Lewis mission was launched last year but NASA lost contact with the spacecraft and burned up in earth's atmosphere weeks after launch. Over $143.3 million was spent on small spacecraft missions that failed in 1997 (Lewis, STEP-4, Early Bird). The Clark mission was to take 3 meter resolution imagery of the earth surface to test new technologies and supporting NASA's Earth Science program.

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