Word: loralic
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...incurable patsy." But after Clinton was elected President, he came under the same pressure from business leaders, who argued that the export controls endangered America's telecommunications primacy. Clinton began signing the same waivers (there have been 11 on his watch). In 1996, an American company, Loral Space & Communications, used a waiver to export a $200 million satellite that was destroyed when the Chinese rocket carrying it into space exploded. In the aftermath, Loral and another firm, Hughes Electronic Corp., gave information to the Chinese that, according to the Pentagon, may have helped China hone its ICBM guidance systems...
Last February, another Loral waiver request landed on Clinton's desk. The State Department supported the waiver, arguing that it would promote trade with China and enhance America's position as the world telecommunications leader. But Clinton knew that Loral's technology transfer was under investigation. He also knew that Loral's chairman, Bernard Schwartz, was the largest individual donor to the D.N.C. in 1996, responsible for more than $600,000 in soft-money donations. Clinton was warned in a Feb. 18 decision memo that Justice believed that if the Loral investigation ever went to trial, "a jury likely would...
...already decided to ignore the supposed China link and focus his investigation on one narrow point: Did the Loral waiver damage national security, and if so, how did it happen? He will sort through the contradictory advice Clinton was given--State Department in favor, Justice against--and look for signs that Loral lobbied behind the scenes. Before Clinton signed, the company bombarded the White House with calls and at least one letter, warning the Administration that delay would jeopardize Loral's contract. Schwartz says he never raised the issue with Clinton directly. The company's chief Washington lobbyist, Thomas...
...next best thing: A House committee. The Speaker said he'd seek (and likely get) a bipartisan panel to look into whether the President's insatiable need for cash prompted the White House to promote the export of classified missile technology to China. Both the White House and Loral, the U.S. aerospace contractor that worked with China, say they didn't give the Chinese any information they couldn't obtain by reading the latest edition of Janes...
...effort to develop an ultrathin, power-packed chip able to process data efficiently. Any such progress in speed is a boon for those trying to get video, pictures and the other ingredients of multimedia up and running on the info highway. The consortium of IBM, AT&T, Motorola and Loral intends to produce a chip about half the width of those used currently...