Word: consortiums
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When a $150 million communications satellite was stranded in space last week, the fledgling U.S. commercial launch business may have been set adrift with it. Owned by Intelsat, a Washington-based consortium of 118 countries, , the satellite, which was to handle phone calls and television transmissions, failed to separate on schedule from its booster and tumbled into a useless low orbit. Though Intelsat technicians managed to lift it a bit higher, the five- ton payload nonetheless seemed destined to plunge back to earth within a few months, unless NASA can arrange a rescue by the space shuttle...
...firms had appeared ready to gain on Arianespace, a French-based European consortium that holds a commanding 50% share of the $1 billion launch market. The consortium suspended new missions for an indefinite period last month after one of its rockets exploded shortly after lift...
Boardrooms were buzzing from Bangkok to Boston last week over word of an impending alliance between industrial powerhouses Daimler-Benz and Mitsubishi. Daimler-Benz, maker of the best-selling Mercedes-Benz automobiles and a partner in the Airbus consortium, is West Germany's largest industrial group. Mitsubishi, with interests ranging from electronics to real estate, surpasses all of its Japanese rivals. Emerging from talks in Singapore, representatives of the two firms said they are negotiating joint ventures that would link their businesses in the auto, aerospace and consumer-electronics industries...
Other media giants are exploring similar new satellite-dish technologies. Last month a consortium led by General Electric, Time Warner and Tele- Communications said it planned to offer U.S. viewers a ten-channel satellite service by early fall. The companies said the system would deliver basic cable shows to noncable households and additional programming to cable subscribers...
...Canadian consortium formed to invest in Eastern Europe purchased half the General Banking & Trust Co. of Budapest, the city's oldest bank, for $10 million. American cosmetics heir Ronald S. Lauder is the chairman of the group, the Central Europe Development Corp...