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Technology Stocks : Loral Space & Communications
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To: Clarksterh who wrote (6058)5/6/1999 10:02:00 PM
From: RMiethe  Read Replies (2) of 10852
 
Thanks for the info-- I always like to see heroics in science. We'll have to see if Hughes can work on this one. The satellite they recovered last year by way of the moon orbiting described in Florida Today is in full working condition, so they say, and Hughes has been trying to sell it. Don't know how much fuel was used in the process in that slingshot orbit around the moon, but I think this satellite now has 10 years of life in it.

My understanding is that if the GEO can be recovered, the Loral Global Alliance would have an option to receive it, or have it handed back to Hughes or AIG and have them attempt to sell it.

On the insurance issue, I am assuming that Hughes received full payment for Orion even though Loral had not taken ownership of it and that all proceeds would therefore go to Loral. If so, seems to me the Orion debt is reduced by the proceeds accruing to LOR, and that changes the depreciation schedule somewhat going forward
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