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Technology Stocks : Loral Space & Communications
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To: Bonnie Bear who wrote (2895)5/11/1998 7:28:00 AM
From: Jeff Vayda  Read Replies (1) of 10852
 
Ms. Bear

<<And for 35 years, spacecraft factories had to be subsidized by government projects because the commercial spacecraft business was
inherently unprofitable. >>

Having been in the launch sector for a good portion of the time period you state, I have to point out that your statement is incorrect. The governments bought and paid for each and every spacecraft factory. There was no intent on profit for the technologies, that is what governments should do, encourage the technologies when they are unprofitable. Without world governments the spacecraft business would have never gotten off the ground. But as you point out, that was 35 years ago. If you look at the present make up, commercial activity has far surpassed government involvement in every meaningful benchmark. I would go so far as to say governments are now hindering commercial satellite/space development.

Defense stocks did quite well under the Republicans. "For a good reality check on" LMT, look into defense spending over the past 10 years and into the next 10. LMT is a fine company with wide ranging interests (currently mainly tied to the military complex) but for the next 10 years they will be on the wrong side of the tracks.

Jeff Vayda
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