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

To: Sawtooth who wrote (6197)	5/21/1999 9:00:00 PM
From: Jim Parkinson	Read Replies (1) \| Respond to of 10852

It looks like the Cox report is about to hit. Here is the transscript from Tom Brokow's interview: Brokaw: “Is the Hughes Corporation and Loral going be embarrassed when this report comes out?” Cox: “We were able to interview the scientist who actually went over to Beijing and who met with the PRC scientists that came to America, and talking about their discussions and what they covered. And we found, beyond the fact that a great deal of technical information was illegally shared that will in fact improve the reliability of military space lift rockets in the PRC, that the way that this activity was conducted by both Hughes and Loral was illegal. Brokaw: “Absolutely illegal. Criminally illegal?” Cox: “There is no question that it was deliberate and that it was an intentional avoidance of our export control regime. I think it will be much easier for our select committee to conclude that this corporate conduct was wrong, than perhaps it will be for the Department of Justice to pluck a particular individual out of the corporate structure and say, “This person uniquely is responsible and should be put behind bars.” But the Department of Justice is looking at this. And they have had it under criminal investigation now for some time.” Brokaw: “Would you expect an indictment will be brought against Loral …?” Cox: “Honestly, I don't know. Because what is going on inside the Department of Justice remains completely opaque to us on the Select Committee.” Brokaw: “But if there are no indictments, based on what you know, will you be outraged by that?” Cox: “Honestly, I can't tell you what's going on inside the Department of Justice because I don't know. And they know a lot more about the grounds for prosecution than I do.” Brokaw: “But Senator Lott and others have been very quick to criticize Janet Reno and the Justice Department for not making a more vigorous prosecution of some of the transfer of that technology to China and the corporations involved.” Cox: “Well, there's no question that the Department of Justice, which after all controls, among other things, the FBI, and is responsible for counter-intelligence generally in the United States, has done a poor job of sharing information, not just with Congress, but within the executive branch. .... So that the FBI director was sometimes kept in the dark about what was going on in a smaller investigation inside the Department of Justice. So the CIA director was not told information that had a significant national security aspect to it. If we don't share that information inside the executive branch, we're never going to be able to arrest the kind of espionage that we've seen. And we'll never be able to solve the cases once they occur.” Nothing new here but now it is really in the hands of the press. Wasn't it about a year ago when we were embroiled in this?