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Loral Agrees to Pay U.S. $14 Million
The Wall Street Journal ^ | Wednesday, January 9, 2002

Posted on 01/09/2002 3:20:34 PM PST by TroutStalker

Edited on 04/22/2004 11:45:55 PM PDT by Jim Robinson. [history]

WASHINGTON -- Loral Space & Communications Ltd.'s Space Systems/Loral Inc. unit Wednesday agreed to pay a civil penalty of $14 million over seven years to settle charges by the U.S. State Department that the company passed sensitive missile technology to China.


(Excerpt) Read more at interactive.wsj.com ...


TOPICS: News/Current Events
KEYWORDS: clintonscandals
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1 posted on 01/09/2002 3:20:34 PM PST by TroutStalker
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To: TroutStalker
Was Loral a big contributor to Clinton and the Democrats? I thought I remember hearing that they were. If so, don't expect the media to highlight that connection they way they are highlighting the connection betweeen Enron and Bush.
2 posted on 01/09/2002 3:24:02 PM PST by Steve_Seattle
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To: TroutStalker
If they're guilty take the guilty corporate executives and place them in prison. The money isn't as important to me as the treason they exhibited.
3 posted on 01/09/2002 3:24:51 PM PST by DoughtyOne
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To: TroutStalker
Confusious say, "man who screw over world power get ready for large object in rectum".
4 posted on 01/09/2002 3:27:35 PM PST by Rain-maker
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To: TroutStalker
14 million is peanuts for their traitorous activities which could only fly under traitor Clinton. Anyhow can they even pay up or ever pay up? They look semi bankrupt at best and serves them (stockholders) right to suffer.
5 posted on 01/09/2002 3:29:05 PM PST by dennisw
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To: TroutStalker
Lets see, thats about 5 cents for each American their treason put in danger. What's your kid's life worth?
6 posted on 01/09/2002 3:29:13 PM PST by Hugin
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To: TroutStalker
This $14M penalty is peanuts for a corporation like Loral. Its CEO probably tips that much every week.

More Washington "justice".

Leni

7 posted on 01/09/2002 3:30:54 PM PST by MinuteGal
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To: all
This is not freaking acceptable. Someone has to go to prison for this.
8 posted on 01/09/2002 3:33:13 PM PST by doug from upland
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To: TroutStalker
What a joke.

A five year ban on export sales, effective immediately, would be a start in the right direction.

Loss of government contract privileges for a five year period would be the second correct step.

Criminal prosecution of Loral management would be a third correct step.

9 posted on 01/09/2002 3:34:28 PM PST by Amerigomag
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To: TroutStalker
"Loral also was informed the Justice Department has terminated its investigation of Space Systems/Loral relating to this matter." Ashcroft alert.
10 posted on 01/09/2002 3:35:55 PM PST by monkeywrench
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To: Steve_Seattle
Was Loral a big contributor to Clinton and the Democrats?

The head of Loral, name escapes me at the moment was the single largest contributor to the DNC.

Loral also was informed the Justice Department has terminated its investigation of Space Systems/Loral relating to this matter.

Sure....Ashcroft/Bush wanted no part, it seems, of continuing the campaign finance investigation despite the fact to is directly associated with our national security.

11 posted on 01/09/2002 3:36:40 PM PST by RJCogburn
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To: TroutStalker
This is not even a slap for what they did!!!.
12 posted on 01/09/2002 3:37:32 PM PST by Native American Female Vet
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To: ChaseR;Mudboy Slim;alamo-girl
Loral settles with U.S. in China satellite case(Reuters)
13 posted on 01/09/2002 3:38:23 PM PST by hammerdown
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To: DoughtyOne; clintonscandals; M1991; TroutStalker; cdwright; mbb bill; Zoey; kristinn; Rebeckie...
D1, No government "friends" go to jail. We've got "The best government money can buy." Peace and love, George.
14 posted on 01/09/2002 3:39:15 PM PST by George Frm Br00klyn Park
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To: ChaseR
ping
15 posted on 01/09/2002 3:39:43 PM PST by Native American Female Vet
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To: Steve_Seattle
Was Loral a big contributor to Clinton and the Democrats?

Yes they were. Klinton was getting paid from them on this side of the Pacific and from Chinese military generals on the other. While our pathetic POS pols on both sides sat around with their fingers in their asses.

All that comes out of it is a big "fine". Nobody is held accountable for giving a potentially hostile communist dictatorship something they never had before. The ability to accurately hit our mainland with multi-warhead Intercontinental Ballistic Missiles.

16 posted on 01/09/2002 3:40:10 PM PST by AAABEST
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To: ChaseR
bump
17 posted on 01/09/2002 3:40:48 PM PST by JD86
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To: RJCogburn
I believe the head of Loral is Bernard Schwartz, FOB.
18 posted on 01/09/2002 3:41:13 PM PST by TroutStalker
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To: TroutStalker
That would explain Loral's stock price slide today. But it's a blip, the future is rosy.

China doesn't seem to be launching any commercial satellites anymore. It seems China has annoyed everyone with its unprofessional behavior.

19 posted on 01/09/2002 3:41:50 PM PST by RightWhale
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To: DoughtyOne
If they're guilty take the guilty corporate executives and place them in prison. The money isn't as important to me as the treason they exhibited.

I know what you mean, D1, but we will get no justice from Justice in the matter of campaign finance, which this is really all about, isn't it?

You know the drill.....Ashcroft disbanded the campaign finance task force and sent Robert Conrad, the head of the task force who wanted Reno to appoint an IC to investigate Gore, away to NC. We know the the head of Loral was the largest contributor to the DNC, we know that officials of the PRC army funneled money to Clinton through Johnny Chung, we know about Wen Ho Lee, we know a lot.

What we do not know is why, precisely, Bush/Ashcroft have ignored treasonous activity that involves our national security....they just call it movin' on, I guess.

20 posted on 01/09/2002 3:44:38 PM PST by RJCogburn
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FURTHER DELAY OF APPROVAL POSSIBLE

Still, the Bush administration could opt to continue delaying approval for the export of U.S. communications satellites to China out of concern about whether Beijing has done enough to curb sales of sensitive missile-related technology.

Projects that have been held up include Chinasat-8 and Apstar5 by Loral Space Systems, the non-partisan Congressional Research Service reported last year. Also, two satellites with U.S. components requiring U.S. authorization are Intelsat's APR-3 satellite from Astrium SAS of France and Italy's Alenia Spazio Atlantic-Bird-1 satellite, the research service said.

China Telecommunications Broadcast Satellite Corp. bought Asiasat-8, valued at nearly $200 million, in 1998 with plans to launch it on a Long March rocket.

But before the launch could take place, a Republican-led House of Representatives panel concluded that China had used launches of U.S.-built satellites to steal data that could be used to fine-tune Red Army missile-firing capabilities.

In its most recent action, the Du Du % DI=?????1/2?? Defense Trade Controls stopped short of rejecting Loral's application. Instead, it returned it without action on Jan. 4, 2001, two weeks before Bill Clinton left the White House.

In a federal filing on Wednesday, the company said that the cost of the fine, about 4 cents per share, would be reflected in its fourth quarter results.

Loral shares closed on Wednesday trading down 16 cents, or 5.1 percent, at $2.98 on the New York Stock Exchange.

Last year, Schwartz argued that tighter export controls triggered by fears of Chinese espionage were crippling the U.S. satellite industry and undermining U.S. technological supremacy at a time of fierce global competition.

``I do believe that American industry has been damaged,'' he said, noting that the U.S. share of commercial satellite orders worldwide had fallen below 50 percent last year for the first time.

In the two years since Congress tightened export curbs on commercial satellites, the U.S. share of the global market has plunged to 45 percent from an average of 75 percent during the previous 10 years, the Satellite Industry Association, a trade group, reported last year.

Loral's top two U.S. competitors -- Hughes Electronics Corp.'s satellite manufacturing unit, now owned by Boeing Co. (NYSE:BA - news), and Lockheed Martin Corp. (NYSE:LMT - news) -- have also been charged with violations of export control rules, charges they have denied.

21 posted on 01/09/2002 3:45:12 PM PST by hammerdown
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To: TroutStalker
Now we know the price for skating on a provable charge of treason, 14 million stinking dollars.
22 posted on 01/09/2002 3:45:30 PM PST by The Cajun
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To: TroutStalker
Fox just broke that Enron was going to be investigated for CRIMINAL misdeeds, and now Loral has settled for a measly $14M - all this on the same day! Does this sound fishy or not???????? You tell me!!
23 posted on 01/09/2002 3:46:56 PM PST by Alissa
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To: TroutStalker
Many so called "Tin foil hat" types were screaming about this years ago when it happened. This was no secret and was all done above the board. The X42 regime was fully aware of it and Ron Brown's fingerprints were all over the deal.

The new regime has no reason to drag this out into the light.

Similar story with McDonnell-Douglas. Employees who tried to prevent the Chinese from touring plants and buying machines were disciplined up to the point of being arrested.

As with Loral, the new admin. let Mc-D off with a fine and life went on.

When you arrest the higher ups and throw them in prison for doing what the previous administration told them to do you get a lot of Gerald Bull's floating around.

24 posted on 01/09/2002 3:47:07 PM PST by El Sordo
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To: dennisw
14 million is peanuts for their traitorous activities which could only fly under traitor Clinton.

Right, but is the current administration that is giving this slap on the wrist and letting them get away with it.

Loral also was informed the Justice Department has terminated its investigation of Space Systems/Loral relating to this matter.

25 posted on 01/09/2002 3:47:41 PM PST by RJCogburn
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To: doug from upland
This is not freaking acceptable. Someone has to go to prison for this.

Better tell your buddies Bush/Ashcroft. They're the ones letting them off the hook.

26 posted on 01/09/2002 3:49:30 PM PST by RJCogburn
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To: TroutStalker
What a joke 14 million is nothing for a big corporation. What is it with the Justice Department so far this administration is no different then the last. I thought we voted for some clean up and honesty.
27 posted on 01/09/2002 3:52:40 PM PST by ho-hum
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To: TroutStalker
Right. Thanks.
28 posted on 01/09/2002 3:52:57 PM PST by RJCogburn
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To: TroutStalker
Prior to the help from Loral, Chinese rockets tended to blow up at launch or stortly thereafter. Now Loral can be proud that MIRVed ICBM are now pointed at American cities with some probability that at least one will be on target.

The cost of their actions to this country will be billions of dollars and thousands, if not millions, of technical man hours. This is required to counteract their treasonus acts.

Loral should be barred from doing business with the United States indefinitely. Their clearances on all existing projects should be cancelled, and their access to classified materials be prohibited.

29 posted on 01/09/2002 3:58:40 PM PST by Citizen Tom Paine
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To: TroutStalker
Absolute BS...Schwartz and his ChiCom buddies are off the hook again.
30 posted on 01/09/2002 4:00:48 PM PST by Aaron_A
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To: TroutStalker
"The parties signed the agreement to settle and dispose of all civil charges, penalties and sanctions associated with alleged violations by Space Systems/Loral of the Arms Export Control Act."--does this mean no criminal charges ever, as well? sheesh, 14 mil for letting the chinese be able to target extremely well, making mirvs practical for them. They probably won't even miss it, and somehow make a tax dodge out of it as well...
31 posted on 01/09/2002 4:04:37 PM PST by zog
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To: RJCogburn
I hear you bud. Accurate comments. That's sure more than we get from D.C.
32 posted on 01/09/2002 4:15:19 PM PST by DoughtyOne
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To: Howlin, Sinkspur, Bayourod, Miss Marple, PhiKapMom
Comments?
33 posted on 01/09/2002 4:20:09 PM PST by BeAChooser
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To: Luis Gonzalez, VA Advogado
Comments?
34 posted on 01/09/2002 4:20:42 PM PST by BeAChooser
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To: BeAChooser
Comments? My comment is our government is doing its job. No thanks to Karry Layman and Wudicial Jatch.
35 posted on 01/09/2002 4:50:08 PM PST by VA Advogado
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To: TroutStalker
It will be interesting to see how much that works out to for every dead American, both GI and civilian. Bet those lawyers think they got a great deal. I'm sure the ChiComms do.
36 posted on 01/09/2002 5:01:30 PM PST by Feckless
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To: VA Advogado
My comment is our government is doing its job.

Doing its job? It is such attitudes that allows those who commit such treasons acts to get away with them with only a limp slap on the wrist.

37 posted on 01/09/2002 5:01:34 PM PST by RJCogburn
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To: RJCogburn
Doing its job? It is such attitudes that allows those who commit such treasons acts to get away with them with only a limp slap on the wrist.

Who got away with what? It cost Loral $14 million according to the headline. You JW groupies are so duplicitous.

38 posted on 01/09/2002 5:22:34 PM PST by VA Advogado
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To: VA Advogado
At least Marc Rich Got a pardon On the Cheap , I wonder who Loral would have voted into the Whitehouse If it could Have .
39 posted on 01/09/2002 6:52:28 PM PST by lazarot
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To: VA Advogado
Who got away with what? It cost Loral $14 million according to the headline.

What seems to have escaped you is that in exchange for the PALTRY sum of $14 million dollars (keep in mind that the CEO of Loral gave the DNC over HALF A MILLION dollars IN JUST ONE YEAR), the Ashcroft Justice Department agreed not to pursue any CRIMINAL actions against Loral (for little things ... like TREASON). I call that aiding and abetting.

Of course, yours was EXACTLY the response I expected from Move-On'ers. Just wanted to get it on RECORD so that next time you PRETEND to be a law and order conservative, we can demonstrate YOUR "duplicity".

And by the way, are you still claiming that Ron Brown's body was autopsied? Or are you finally willing to admit that is untrue?

40 posted on 01/09/2002 7:20:10 PM PST by BeAChooser
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To: HAMMERDOWN
Thanks for the heads up!
41 posted on 01/09/2002 7:29:47 PM PST by Alamo-Girl
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To: BeAChooser
Yeah.

Where's Larry? He should be taking credit for a "victory" right about now.

42 posted on 01/09/2002 7:35:28 PM PST by Luis Gonzalez
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To: RJCogburn
I agree. Come on Bush, do the right thing. For 900K to the DNC and a relatively small fine, Bernie stays out of jail. This sucks.
43 posted on 01/09/2002 8:31:47 PM PST by doug from upland
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To: VA Advogado
Who got away with what? It cost Loral $14 million according to the headline. You JW groupies are so duplicitous.

Well, gee, I'm not a JW groupie. It would be more appropriate if you stuck with the facts of the matter.....meaning that it hardly seems appropriate to punish treasonous actions with a fine, not jail time. Oh, and who is paying the fine....the guilty officials, those who affect the security of our country? Nope, it's the stockholders who had nothing to do with it.

So, when people like you, who admittedly represent a big portion of the population say that such an outcome is just dandy, we can expect no better. Too bad that so many, in their blind loyalty to person or party, act in a fashion similar to the Clinton defenders.

44 posted on 01/10/2002 2:48:33 AM PST by RJCogburn
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To: VA Advogado
Oh, and I just note this on Drudge:

CIA: China expected to have 75 to 100 nuclear missiles pointed at U.S. by 2015

Good deal for $14 million, wouldn't you say, VA?

45 posted on 01/10/2002 3:03:14 AM PST by RJCogburn
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To: VA Advogado; Luis Gonzalez
He'll be along shortly, no doubt, claiming this would have never gotten done without him.
46 posted on 01/10/2002 6:16:47 AM PST by Howlin
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To: TroutStalker
Just another example of how everyone else ends up "paying" for associating with the Clintons, while they go on their way.
47 posted on 01/10/2002 6:19:42 AM PST by SAMWolf
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To: Luis Gonzalez
Stop trying to use your dislike of Klayman to distract attention from the issue ... which is whether Bush's administration is aiding and abetting the coverup of the Clinton administration's and DNC's many CRIMES. And maybe you should also tell your "friend", VA Advogado, that he is LYING when he claims Ron Brown's body was autopsied.
48 posted on 01/10/2002 6:50:54 AM PST by BeAChooser
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To: Howlin
Stop trying to use your dislike of Klayman to distract attention from the issue ... which is whether Bush's administration is aiding and abetting the coverup of the Clinton administration's and DNC's many CRIMES.
49 posted on 01/10/2002 6:52:58 AM PST by BeAChooser
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To: BeAChooser
Is Ron Brown still dead?
50 posted on 01/10/2002 7:40:23 AM PST by Luis Gonzalez
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