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: Sawtooth who wrote (5395)	2/25/1999 8:59:00 AM
From: Jeff Vayda	Read Replies (1) \| Respond to of 10852

Loral's Schwartz Believes U.S. Government Will Not Block Export of ChinaSat 8 NEW YORK - Loral Corp. [LOR] Chairman Bernard Schwartz told a Wall Street audience here Tuesday (2/24) that he did not expect the U.S. government's decision to block the export of $450 million worth of satellite assets from Hughes Space and Communications [GMH] to China for launch aboard a Long March rocket, to affect his company's plans to transport the ChinaSat 8 bird there. However, it is unclear why the U.S. government opted not to allow the sale and how that decision may affect other U.S. satellite manufacturers from exporting birds for future launches in China, Schwartz said. Hughes Electronics President Charles Noski told attendees here for the Bear Stearns financial conference that the lack of U.S. government support of the export of the Asia Pacific Mobile Telecommunications satellite to China was evidence that President Clinton and his administration were unable to keep a commitment that had been made to his company. (Thanks Phillips Telecom) (Loral, 212/697-1105, loral.com.)