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Technology Stocks : Loral Space & Communications
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To: donss who wrote (3314)5/22/1998 9:10:00 AM
From: Andrew Abrams  Read Replies (1) of 10852
 
Loral and others have used the Chinese for LAUNCH vehicles. The Chinese are agressively pricing in order to develop a business. There are a number of other players (the French, etc) who also provide launch vehicles. Essentially, the only thing that Loral provides is the satellite itself, which it builds under contract, and any information needed to locate the satellite on delivery. The information that Loral supposedly gave to the Chinese had absolutely nothing to do with booster technology, reentry technology or military secrets. The company was part of an insurance investigation that the insurancve company that insured the satellite conducted to determine the cause of the accident that destroyed the satellite. This is standard procedure, and the companies involved are participants because they are the only parties able to read through the launch company's palaver about the cause of the failure. When the committee finished their evaluation of the event, they were to clear the report through the Fed Gov. An employee of Loral/SSL sent the report out without getting permission, which violated a LORAL internal security edict, not any Federal laws or mandates. When Loral discovered the mistake, they immediately contacted the government and told them of the error. Regardless of what mistake was made, the documents in question were an evaluation of the problems with the launch derived for insurance purposes and had nothing to do with giving secrets.

I guess politics can push journalists to make incorrect statements as easily as politicians.

good luck.

AA
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