Posted on 07/09/2017 9:34:41 PM PDT by BenLurkin
In a statement provided to SpaceNews July 5, Michael Blum, a member of the company's board of directors who is also serving as acting chief executive, said some "critical" employees would be retained as contractors as the company attempts to stay alive.
"Due to adverse financial conditions XCOR had to terminate all employees as of 30 June 2017," Blum said in the statement. "XCOR management will retain critical employees on a contract basis to maintain the company's intellectual property and is actively seeking other options that would allow it to resume full employment and activity."
Blum did not disclose how many employees were laid off or how many would be kept on as contractors. In May 2016, XCOR laid off nearly half of its 50 to 60 employees as it devoted its resources to a liquid hydrogen/liquid oxygen engine the company was developing under contract with United Launch Alliance.
At that time, XCOR said it was suspending work on Lynx, a two-seat suborbital space plane the company had been working on for several years to serve the space tourism and research markets. Company officials said earlier this year that XCOR had not entirely abandoned the Mark 1 prototype vehicle that had been under construction at its Mojave, California, facility.
(Excerpt) Read more at space.com ...
Bookmark
Say bye!
Who will defend the Earth when aliens arrive?
Oh wait....nvm that’s XCOM.
This wouldn’t be one of those ‘phony companies’ that BO funded would it?
(Naturally when I say BO funded I MEAN we funded and BO doled the money out...
Libs well POLs in general are experts at handling and advising on OPM)
https://www.space.com/32463-xcor-lynx-space-plane-2017.html
The embedded video will show the various efforts to access sub-orbital space
The taxpayers of Midland, Texas funded this boondoggle. The city fathers and the local paper, The Midland Reporter Telegram, have been covering this criminal act up for years in my opinion. Where are the Texas Rangers?
Yeah, I think SpaceX ate their lunch.
In texas?
Yep, Midland International Air and Space Port,(what a joke) Midland, Texas.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.