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: Rocket Scientist who wrote (5100)	1/7/1999 8:51:00 AM
From: jopawa	Read Replies (1) \| Respond to of 10852

Thursday January 7 4:49 AM ET China Slams U.S. Congress Hi-Tech Theft Charges BEIJING (Reuters) - China Thursday denounced as groundless a report by the U.S. Congress which concluded that Beijing has been engaged in a concerted long-term effort to steal American technology. In China's second reaction to the report in as many weeks, Foreign Ministry spokesman Zhu Bangzao said the charges were ''irresponsible'' and would mislead public opinion. ''The Chinese side hereby expresses its strong resentment and firm opposition,'' Zhu said. He also accused unnamed congressmen of spreading rumors about China with the deliberate goal of derailing developing Sino-U.S. ties. ''Obsessed with the Cold War mentality, a few congressmen run counter to the historical trend and fabricate rumors out of thin air in an attempt to obstruct improvement in Sino-U.S. relations,'' Zhu said. ''They are doomed to failure.'' The report was compiled after a six-month inquiry by members of the U.S. House of Representatives. Although it remains classified, congressmen involved in the inquiry said it concluded that China had been working for decades to steal U.S. technology. It also found that the transfer of sensitive U.S. technology had harmed U.S. national security. The investigation was sparked by allegations that Hughes Electronics Corp and Loral Space & Communications Ltd (NYSE:LOR - news) had transferred technology to China after satellites belonging to the two companies were destroyed in Chinese rocket explosions. Zhu countered that the normal exchange of trade and technology was ''in the interest of both sides'' and he urged Washington to help smooth the way for future cooperation. ''At present, there is an opportunity for improving and developing Sino-U.S. relations,'' he said. ''We hope that the congressmen will proceed from the fundamental interests of the two peoples and do more to promote development of bilateral relations.''

To: Rocket Scientist who wrote (5100)	1/7/1999 8:52:00 AM
From: jopawa	Respond to of 10852

Thursday January 7, 8:14 am Eastern Time Company Press Release Loral to Sell $350,000,000 of Senior Notes in a Rule 144A Offering NEW YORK--(BUSINESS WIRE)--Jan. 7, 1999--Loral Space & Communications announced today that it plans to sell $350 million of Senior Notes due 2006 in an offering exempt from registration. Loral intends to apply the proceeds from the sale of the notes towards the purchase of $150,000,000 of Convertible Preferred Stock of Globalstar Telecommunications Limited, with the remaining proceeds to be used for general corporate purposes, including investment in Loral's core businesses, to pursue emerging satellite service opportunities worldwide and possible acquisitions. The Notes will be offered only to qualified institutional buyers pursuant to Rule 144A, to certain persons in offshore transactions pursuant to Regulation S under the Securities Act of 1933 and to certain accredited investors. The Notes have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. This press release does not constitute an offer to sell or the solicitation of any offer to buy the securities.