Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Loral Space & Communications -- Ignore unavailable to you. Want to Upgrade?

To: Dragonfly who wrote (2318)	3/23/1998 4:39:00 PM
From: Valueman	Read Replies (2) \| Respond to of 10852

Here is a press release that furthers my lack of confidence in any Russian space-related venture: Russian bank's satellite fails MOSCOW, March 23 (UPI) _ A satellite belonging to Russia's Central Bank has failed and bank officials say it is now ''space garbage.'' Ground controllers say the Coupon satellite, which was used to speed banking transactions across Russia's 11 time zones, experienced problems last week and has now stopped responding to commands from Earth. Controllers say two stabilizers must have failed, and the problem is ''completely unexpected.'' A spokesman for the satellite manufacturer NPO Lavochkina said ''our engineers are completely baffled, this is the first failure of this kind in the history of space flights.'' Central Bank officials say the bank took out insurance against the failure and will use the money, over $70 million, to finance a new satellite. The Central Bank has initiated an ambitious space program, called Banker, which will see the launch of several satellites to improve interbank communications. Designers say they will make adjustments to future satellites to avoid the problem that killed Coupon.