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Loral Space Communications Inc

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March 17, 2010 | By W.J. Hennigan
Hawthorne-based Space Exploration Technologies Corp. has signed a deal to launch a commercial satellite for Loral Space & Communications Inc.'s space system unit. "It's a significant breakthrough," said Elon Musk, the company's founder and chief executive. "Loral is placing a bet on SpaceX and its technology. It's really one of the biggest endorsements you can get." Musk, who also co-founded PayPal and Tesla Motors Inc., said it was one of the largest commercial contracts won by SpaceX.
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BUSINESS
November 14, 2001 | Associated Press
Troubled satellite phone provider Globalstar announced plans to restructure its business and file for bankruptcy protection. The San Jose-based company, which was founded by several leading telecommunications firms, said it is negotiating a deal with creditors so it can continue to provide service. Under the bankruptcy filing expected by the end of the year, all partnership interests probably will be severely diluted, meaning they would have little value or be eliminated entirely.
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