- —Due to their recent loss of the $900 million U.S.A.F. contract to build nexgen comsats, Boeing Satellite Systems in El Segundo, California, is restructuring the division. As is the norm, “restructuring” means layoffs to the tune of about 11 percent of their workforce, or about 1,000 positions. Efficiency and productivity are areas of intense scrutiny by the company who finds themselves in a double-whammy situation… fewer commercial telecom projects and a loss of government biz. Of their current 38 satellite orders, only 11 are for the military.
- — No damages, that’s the result of a U.S. Bankruptcy court ruling in regards to Motorola and the Iridium bankruptcy situation. This decision negates Motorola’s exposure in all pending U.S. claims that claimed voidable preference, fraudulent conveyance, breach of contract and breach of fiduciary duty—the sought $4 billion in total damages is now concluded in Motorola’s favor.
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