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Hughes Electronic Corp

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NEWS
December 6, 1998 | From Associated Press
Justice Department investigators are trying to determine who approved contacts between the CIA and Hughes Electronics officials after company leaders were tipped off that they would be called before a Senate committee looking into the firm's technology exports to China.
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BUSINESS
February 2, 2000 | SALLIE HOFMEISTER, TIMES STAFF WRITER
Moving to assure investors that it will further streamline and halt its sliding market share, General Motors Corp. is expected today to name president and chief operating officer G. Richard Wagoner Jr. as chief executive. Jack Smith, who currently holds that title, will remain chairman. The development follows GM's plan, announced Tuesday, to restructure its investment in Hughes Electronics Corp. in an effort to appease restive shareholders and prop up GM's stock price.
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BUSINESS
February 2, 2000 | SALLIE HOFMEISTER, TIMES STAFF WRITER
Moving to assure investors that it will further streamline and halt its sliding market share, General Motors Corp. is expected today to name president and chief operating officer G. Richard Wagoner Jr. as chief executive. Jack Smith, who currently holds that title, will remain chairman. The development follows GM's plan, announced Tuesday, to restructure its investment in Hughes Electronics Corp. in an effort to appease restive shareholders and prop up GM's stock price.
BUSINESS
January 20, 2000 | From Times Staff and Wire Reports
Hughes Electronics Corp. on Wednesday reported a fourth-quarter loss as higher costs more than offset record subscription growth at its DirecTV unit, the nation's leading satellite television service. The loss of $231.8 million translates to 58 cents per share--a penny better than the 59-cent loss that analysts surveyed by First Call/Thomson Financial had predicted. It compares with earnings of $123.1 million, or 32 cents a share, a year earlier. Sales rose 54%, to $1.7 billion, from $1.
BUSINESS
January 20, 2000 | From Times Staff and Wire Reports
Hughes Electronics Corp. on Wednesday reported a fourth-quarter loss as higher costs more than offset record subscription growth at its DirecTV unit, the nation's leading satellite television service. The loss of $231.8 million translates to 58 cents per share--a penny better than the 59-cent loss that analysts surveyed by First Call/Thomson Financial had predicted. It compares with earnings of $123.1 million, or 32 cents a share, a year earlier. Sales rose 54%, to $1.7 billion, from $1.
BUSINESS
January 22, 1999 | SALLIE HOFMEISTER, TIMES STAFF WRITER
In a development that would leave two strong U.S. satellite television services to compete against the cable industry, Hughes Electronics is expected to announce today the purchase of all the assets and customers of its second-largest competitor, PrimeStar Partners, sources say. Under the deal, which has been widely expected, Hughes, on behalf of its DirecTV satellite subsidiary, would pay PrimeStar as much as $1.3 billion in stock and cash for assets that include 2.
CALIFORNIA | LOCAL
April 18, 1996 | ALAN ABRAHAMSON and ERIC SLATER, TIMES STAFF WRITERS
A former employee stormed into a Hughes Electronics complex in El Segundo on Wednesday morning, shooting three people--seriously wounding one--and taking a hostage before surrendering to police in a parking lot, authorities said. After an hourlong siege, Walter Waddy, 62, of Compton, a 16-year Hughes employee, was booked on suspicion of attempted murder and held without bail at Los Angeles County-USC Medical Center's jail ward, complaining of neck pains.
BUSINESS
August 3, 2001 | Bloomberg News
Hughes Electronic Corp.'s DirecTV unit plans to offer high-speed satellite Internet service to its television customers by the next quarter. DirecTV, the largest U.S. satellite-television provider, plans to sell the service, called Direcway, to compete more aggressively with rival fast telephone and cable Internet connections. DirecTV customers will need to buy a new satellite dish, which will provide both television and Internet service. The Internet service will cost $59.99 to $69.99 a month.
BUSINESS
September 15, 2000 | From Bloomberg News
News Corp.'s Rupert Murdoch sold 7 million shares of EchoStar Communications Corp. worth $343 million this month. The Australian billionaire is viewed as a candidate to buy EchoStar's rival, DirecTV. Murdoch sold the EchoStar shares Sept. 6 at $49 each in open-market transactions, a 13D filing with the Securities and Exchange Commission said. The sale reduced Murdoch's stake in EchoStar to 26 million shares, or 11% of the outstanding shares, according to the filing. Littleton, Colo.
CALIFORNIA | LOCAL
February 24, 1999
Increasingly concerned about China's progress in acquiring advanced military technology, the Clinton administration has decided to reject Hughes Electronic Corp.'s request to sell a $450-million communications satellite to a Chinese consortium with ties to the People's Liberation Army. While the Commerce Department favors the sale, opposition from the State and Defense departments and the Arms Control and Disarmament Agency has prevailed.
BUSINESS
January 22, 1999 | SALLIE HOFMEISTER, TIMES STAFF WRITER
In a development that would leave two strong U.S. satellite television services to compete against the cable industry, Hughes Electronics is expected to announce today the purchase of all the assets and customers of its second-largest competitor, PrimeStar Partners, sources say. Under the deal, which has been widely expected, Hughes, on behalf of its DirecTV satellite subsidiary, would pay PrimeStar as much as $1.3 billion in stock and cash for assets that include 2.
NEWS
December 6, 1998 | From Associated Press
Justice Department investigators are trying to determine who approved contacts between the CIA and Hughes Electronics officials after company leaders were tipped off that they would be called before a Senate committee looking into the firm's technology exports to China.
CALIFORNIA | LOCAL
April 18, 1996 | ALAN ABRAHAMSON and ERIC SLATER, TIMES STAFF WRITERS
A former employee stormed into a Hughes Electronics complex in El Segundo on Wednesday morning, shooting three people--seriously wounding one--and taking a hostage before surrendering to police in a parking lot, authorities said. After an hourlong siege, Walter Waddy, 62, of Compton, a 16-year Hughes employee, was booked on suspicion of attempted murder and held without bail at Los Angeles County-USC Medical Center's jail ward, complaining of neck pains.
CALIFORNIA | LOCAL
July 22, 1999 | LARRY PRYOR, Larry Pryor is a professor of journalism at USC's Annenberg School for Communication and director of USC's Online Journalism Program
The debate over whether to require AT&T to open its high-speed cable system to carry competing Internet service providers has--under the influence of lobbyist money--sunk into mindlessness. The term "open access" almost rivals "un-American" for political spin. It's time for a reality check. A decision on this issue by the Los Angeles City Council in the fall will have a profound impact on how voice, video and data will be delivered to area homes and could affect the regional economy.
BUSINESS
January 26, 1996 | JUBE SHIVER Jr., TIMES STAFF WRITER
A unit of long-distance carrier MCI Communications Corp. on Thursday won the right to offer a new nationwide satellite television service, one day after the nation's biggest cable TV operator bowed out of bidding in a federal government auction. MCI Telecommunications Corp., which has an alliance with one of the world's most experienced satellite TV operators--News Corp. Chairman Rupert Murdoch--submitted a winning bid of $682.5 million in the two-day auction.
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