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Technology Stocks : Loral Space & Communications
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To: Dragonfly who wrote (2358)3/28/1998 9:53:00 AM
From: Valueman  Read Replies (1) of 10852
 
Just so that rumor-mania doesn't strike again, I am going to both bring up a rumor and squelch it in one post. A reporter for a space industry publication wrote a story Friday that said he had fished through FCC filings and come to the conclusion that one of the G* sats was stuck at 1250 km, and that they needed to do tests to figure out the anomaly so it wouldn't affect future sats. The reporter is wrong--dead wrong. G* had filed with the FCC, even before the launch, to do testing on the sats in their initial launch orbit of 1250 km before they were raised to final orbit. They would then raise the sats to their final orbit over 1400km. All four sats are nearly in their final orbit. There are no anomalies at this time. Loral is attempting to have this reporter retract his story and put out a correction. I just wanted this story known before someone posted the false report. This report was widely circulated on Friday, so it could account for some of the downside pressure on the price.
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