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

To: jopawa who wrote (4994)	12/10/1998 7:58:00 AM
From: Thomas	Read Replies (1) \| Respond to of 10852

FYI. China calling names. Also, saw on CNBC this morning that Astra is buying AsiaSat. Now that is interesting! ANyone have any thoughts on that? Looks as though little ol' Astra is making a reach for critical mass. . . Cheers, Thomas China: Rocket Report Shows U.S. 'Cold War Mentality' BEIJING (Reuters) - China denied Thursday a Pentagon report that it received sensitive rocket technology in 1995 from an U.S. satellite maker, and said the accusations reflected the United States' ''Cold War mentality.'' ''The Chinese side had no intention to obtain U.S. missile technology through the launching of U.S. satellites,'' Foreign Ministry spokesman Zhu Bangzao said. ''We hope the U.S. side will thoroughly give up its legacy of Cold War mentality and do more to facilitate normal business contact between the two countries,'' he said. A classified Pentagon report completed this week found that scientists with Hughes Electronics Corp. gave China unauthorized information that improved the country's ability to launch satellites and long-range missiles, U.S. defense officials said Wednesday. The assistance came following the 1995 crash of a Chinese rocket carrying one of Hughes' satellites, the officials said. The report said the transfer violated American standards against helping Beijing make better missiles and satellites, and that such moves required an advance review by the State Department, they said. A Hughes' spokeswoman denied company wrongdoing in the case, saying the actions at the time were approved by the Commerce Department, which she called the ''appropriate licensing authority.'' Both Hughes and Loral Space & Communications Ltd (NYSE:LOR - news) are under investigation by the Justice Department and two congressional committees for their role in transferring technology to the Chinese after their satellites were destroyed in Chinese rocket explosions. China's top commercial satellite launch firm, the state-owned Great Wall Industry Corp, has said it stands to lose billions of dollars because of the Washington probe, which is holding up satellite export licenses to China.