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

To: Lighthouse who wrote (5257)	2/2/1999 5:57:00 PM
From: jopawa	Respond to of 10852

Tuesday February 2 5:49 PM ET U.S. Studies If China Deals Hurt National Security WASHINGTON (Reuters) - The U.S. government will conduct a broad review to determine if U.S. national security was hurt by high-technology deals with China, as a congressional panel charged last year, a U.S. official said Tuesday. ''We take the issue very seriously and will conduct an inter-agency review to make a formal damage assessment,'' said the U.S. official, who asked not to be identified, adding the government inquiry would extend back to the late 1970s. The official said the Clinton administration took issue with the analysis of a special congressional investigating committee, which found that high-technology deals with China had compromised U.S. national security. ''We are skeptical of some of their analysis on the impact on U.S. national security,'' the official said. Rep. Christopher Cox, the California Republican who chaired the congressional committee, told reporters in late December that the panel concluded that ''national security harm did occur'' because of the deals. The panel's five Republicans and four Democrats unanimously approved their classified report after a six-month inquiry and offered 38 recommendations for future dealings with China. The probe was launched after allegations that Hughes Electronics Corp. and Loral Space & Communications Ltd (NYSE:LOR - news). had transferred technology to China after satellites belonging to them were destroyed in Chinese rocket explosions. ''The select committee has found that the transfer of sensitive U.S. technology to ... China goes beyond the Hughes and Loral instances that were a significant part of the reason that the committee was formed,'' Cox told reporters in December. ''These transfers are not limited to missile-satellite technology, but cover militarily significant technologies.'' China's Foreign Ministry blasted the congressional report when it was issued, calling it ''groundless and irresponsible.'' .

To: Lighthouse who wrote (5257)	2/2/1999 6:00:00 PM
From: jopawa	Read Replies (1) \| Respond to of 10852

Satellite 99 Conference Expected to Be 'Dawn of a New Era' Washington, Feb. 1 (Bloomberg) -- Satellite 99, the satellite industry's biggest conference of the year, is expected this week to live up to its billing as the ''Dawn of a New Era.'' The 18th annual event, which starts Wednesday, will feature 200 companies displaying products and services at the Washington, D.C., Convention Center. This year will be an important one for the industry, which is expected in the next decade to spend $150 billion to expand satellite services. This year, Iridium LLC subscriber counts will be a key barometer of satellite-telephony demand, and Boeing Co.'s ''Sea Launch'' joint venture -- launching satellites from an ocean platform -- is expected to get off the ground. ''It's the Comdex of satellites,'' said Armand Musey, a satellite analyst at CE Unterberg Towbin, referring to the computer industry's largest trade show, which drew 220,000 people to Las Vegas in November. Companies ranging from satellite manufacturers including Loral Space & Communications Ltd. to Trimble Navigation Ltd., a maker of software and equipment for global positioning systems, to PanAmSat Corp., the world's largest commercial-satellite operator, will be represented. Executives, analysts and investment bankers are expected at the three-day event. One of the highlights will be a discussion of what went wrong with PanAmSat's Galaxy IV satellite, which spun out of control in May and left tens of million of U.S. paging and other customers without service, said Janet Allen, Satellite 99 Conference director. The industry is creating global satellite networks to offer an array of services, including a global phone network, high- speed Internet access, videoconferencing, telemedicine and other services.