Boeing to pay hefty fine in satellite case
Article Abstract:
Boeing Co has agreed to pay $10 million to the US govt to settle a civil suit charging it with improper information sharing with Russian and Ukrainian commercial satellite launch partners. Boeing will regain the export license for its Sea Launch project which the US State Dept suspended July 27, 1998. However, the Justice Department continues a criminal investigation of Boeing's alleged 207 violations of the Arms Export Control Act. Boeing has been allowed to continue its Sea Launch program because it has apparently not damaged US national-security interests in disclosing routine documents to partners RSC Energia of Moscow and KB-Yuzhnoye/PO Yuzhmash of Ukraine.
Comment:
Pays $10 million fine in civil suit charging improper information sharing with Russian partners
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Hughes reports 20% earnings decline as losses from its DirecTV unit widen
Article Abstract:
Hughes Electronics Corp. reported a fall in earnings of 20% for the third-quarter of 1998. The earnings decline reflected the company's growing losses at its DirecTV unit. The unit has struggled because of growing competition from rivals in the cable and satellite TV industries. In addition, PanAmSat Corp. terminated its plans to launch its next satellite with the Sea Launch project which has been troubled. Hughes posted $37.6 million in net income for the quarter, compared to $47.1 million during the same period in 1997.
Comment:
Hughes Electronics Corp. reports a fall in earnings of 20% for the third-quarter of 1998
Publication Name: The Wall Street Journal Western Edition
Subject: Business, general
ISSN: 0193-2241
Year: 1998
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Comment about this article or add new information about this topic:
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