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: Bernard Levy who wrote (4674)	10/1/1998 5:13:00 PM
From: Mannie	Read Replies (1) \| Respond to of 10852

Selected quotes from Seattle P-I article by Bruce Ramsey "though it remains the subject of a criminal investigation, The Boeing Co. yesterday agreed to pay a $10 million civil penalty so it can resume work with the Russian and Ukranian rocket companies on a commercial space venture. Th e$10 million payment is worth one-fifth the price of an orbital sea launch once Sea Launch gets going. It will include a $7.5 million civil penalty, reported to be the largest ever under the Arms Control Act. The remaining $2.5 million is to set up a computer system in Long Beach, Calif to allow the Defense Department and State Department to monitor the work of Boeing managers and engineers.......A congressional source earlier said Boeing had broken the terms of it's export license by discussing technical information without a State Department representative present....Boeing had violated the license 207 times. Even so, the federal government is continuing a criminal investigation which...includes a grand jury in Seattle.,,,as of July, Boeing had 18 orders for launches: 13 from Hughes Space & Communications Int. Inc. and five from Loral Space & Communications ltd. Analysts estimate each launch will bring in about $50 million, about one-tenth of one percent of Boeing's annual revenues...."This is not something that is likely to make them a lot of money," Paul Nisbet, a defense analyst at JSA Research Inc. told Bloomberg News. "When everything is going well they maybe have 15 launches a year." But it is the sort of venture that could set the company on the road to bigger things in the next century.....the first launch is scheduled for the first 3 months of '99 and Boeing is discussing the possibility of orbiting a dummy satellite on the first launch.....insurance companies had lost $226 million on Boeings failed Delta launch Aug. 26 and want Sea Launch tested with a dummy before the underwrite any risks."