Loral Slashes Forecasts, Shares Plunge

Reuters ^ | July 2, 2002 | Sinead Carew

[RJCogburn]

If it wasn't Loral, I would not cheer.But by now everyone who is in the stock is well aware of the ethics of the CEO.

"everyone" is probably hyperbole.

This couldn't happen to a more deserving Rat Clymer than this creep. He enabled the ChiComs to have the technical ability to target American Cities with their ICBM's.

Quite true. I must admit I take some pleasure in seeing Schwartz, via Loral, take this big hit even as I feel a bit of sympathy for the shareholders who may not have known about the China connection.

Still, loosing money, even lots of money, is no substitute for the justice that Schwartz deserves. For that lack of justice we ought to acknowledge the failings of our AG.

[LarryLied]

They had eight years to cover their tracks. Reno pled out most of them. Burton did great work laying out all the connections but that isn't enough. Somebody has to roll . And be in the country. And be alive.

Blame Democrats, they did it. What is Ashcroft to do? Find Mark Middleton where ever he is in the world and have him plead the fifth again?

Been following the LOR boards for almost 4 years now. Believe me, they knew and know. All the way down, up and back down, they've been sure Bernie was going to do something to pull it all out.

He ruined many lives. The boards have been sickening to read.

[FreedominJesusChrist]

You don't know what you're talking about anyway.

[LarryLied]

Schwartz gave Democrats over $350,000 at the end of March. That is about $100,000 more than he gives in any quarter. Wonder what the second quarter will show. Anyone know when the FEC numbers come out?

[LarryLied]

Judicial Watch is the least of Schwartz's worries. When Globalstar went under a horde of lawyers descended on him. Law firms which sue companies for a living. Last I counted he had 14 stockholder suits against him.

[FreedominJesusChrist]

"Judicial Watch is the least of Schwartz's worries."

You go ahead and believe that, you just might be in for surprise one day.

[PhiKapMom]

So that is what happened! I hate to say this but I don't trust SAIC to do much of anything if they are like there were in San Antonio!

[montag813]

How pathetic. With Northrop and other defense contractors soaring it figures this little traitor can't make a buck. He sold have sold out when his ChiCom conduit Billy Boy left town.

[Iwo Jima]

You don't know what you're talking about anyway.

What a dazzingly brilliant riposte! Can I use that, or do you have it trademarked? Boy, you really shut me down.

[Iwo Jima]

"you just might be in for surprise one day."

The only thing that Judicial Watch could ever do to surprise me would be to do something effective, something ethical, or something that actually did something constructive for one of their clients.

One thing that won't surprise me is when you recognize that JW and Larry Klayman are just a bunch of deceivers and liars. That day will come, when you are over your "rebellious" phase.

[Alamo-Girl]

Thanks for the heads up!

[bonesmccoy]

Any right wing corporation that actually pays Schwartz for his god-forsaken company will be in my "penalty box".

I feel sorry for all the good people sucked up in Loral. They should abandon ship like a rat on the Lusitania!

[bonesmccoy]

NO WAY is BOEING buying Loral. There is absolutely no value in it. Boeing Engineering surpasses the ability of Loral anyway. There is only one factor where Loral exceeds Boeing...that is in selling nuclear missile technology to ChiComms!

[bonesmccoy]

I'd give good money to be the doctor looking up Bernie's Clymer! He better hope that the doctors around him are a bunch of sold-out socialists. He's not welcome in our area.

[bonesmccoy]

NO. The public does care. We do care about our families and our security. That is why the general public will be merciless in their retrenchment and that is why the RATS have bought themselves a generation of conservatives who are silent. Some people wonder why we are silent. That's because THIS GENERATION is so incensed that we take action before we say anything. Most of us have learned that it is disasterous to say anything to Baby Boomers.

After 20 years of listening to a bunch of sniveling East Coast baby boomers crying about America while they snort their way to "enlightment"; our generation of younger, conservative people are fed up!

Mark my words... the next liars in the spotlight will be the HMO insurance companies. These medical groups are broke. They're propping up illegal contracts and false corporate tax statements with fictional goodwill, loans that are not backed, and fraudulent payments from insurers. The executives of medical groups and insurance companies need to wake up and smell the coffee.

Health insurers are dead in the water. Pacificare takes out huge loans to stay afloat. Wellpoint is lying about their bottom line. Aetna is requiring massive loans to resuscitate their HMO's. Health care rationing by "managed care" is dead!

Hillary sure did "reform" the system. Just look at the solvency of the major insurers and the fact that Gray Davis has overseen the disruption of BILLIONS of DOLLARS of losses in the California health care system.

[FreedominJesusChrist]

"One thing that won't surprise me is when you recognize that JW and Larry Klayman are just a bunch of deceivers and liars. That day will come, when you are over your "rebellious" phase."

That day will never come, because JW is FULL OF PEOPLE WITH INTEGRITY, including but not confined to Larry Klayman HIMSELF.

As for your assumption that I am in a "rebellious phase", YOU don't know what you are talking about. I am actually quite a tame girl, you know, and not impetuous at all.

[Mad_Tom_Rackham]

Looks like Loral is going to be absorbed by a bigger fish. There's at least 18 months before business picks up the pace again. Huge volume today, very systematic huge orders.

Yep. The gov't/SEC needs to watch this carefully. And, although in a just world, what Schwartz/Clinton did would have landed them both in the GAS CHAMBER, I hate to see crucial technology businesses (and their employees) suffer harm.

[Magnum44]

I hope this company goes belly-up!

For you and many other posters trashing Loral on this thread, I've stated before that Bernard Shwartz, like many other CEO's of copanies contributing to the DNC, does not speak for the thousands of patriotic, professional, engineers, scientists, and others who work in the few remaining aerospace firms in this country.

I hope you realize that your wishing that the livelihood of many close associates of mine be terminated, regardless of political affiliation. Individuals who did not follow proper procedures wrt the China incident were either reprimanded or have long since departed. Three thousand dedicated commercial space professionals remain to suffer if your wish comes true.

In addition, I thought I would remind those that lose track of the details as the media headlines are continually repeated, Space Systems/Loral has had only one or two contracts with China over the last 7 years (one of which has never been delivered.) That constitutes less than 5% of the companies business. It is not repercusions from Clinton donations that has brought business to where it is. It is that, worldwide, there has not been a commercial geo contract let in over a year now. Domestic and foriegn customers have dried up in the current economy.

I don't pretend to defend Bernard. I certainly wish he were a repub contributor as opposed to the other way around. But as a former Naval Aviator, veteran of the Gulf War, current reservist, patriot, and for the last 7 years an design engineer working for a satellite manufacturer myself, I found your comment to be, well, hopefully not intended for me. Having had my say, maybe you might reconsider your wish.

[Magnum44]

I hope you will read my reply 78.

Regards

[McGavin999]

Here's an interesting thought for you Grampa Dave. If the dems had allowed the republicans to pass a corporate tax cut, the Net Loss Carryover for 2002-2003 would be much smaller. As it is, the downturn will produce carryovers at a much higher rate. The dems outsmarted themselves.