Loral Space & Communications
Organization·business·AI Enriched
Relationships:1
Events:8
Library:3
Confidence:
95%
Key Facts
Type
Organization
Sector
business
Industry
Not specified
Status
Draft
Country
United States
Headquarters
New York City, New York, United States
Founded
1/1/1996
Dissolved
Active
Website
Also Known As
LoralLoral SpaceLoral Communications
Tags
corporationsatellite communicationstelecommunications
Overall Confidence
95%
Internal Notes
No notes
Key Information
Leadership
Bernard L. Schwartz
Chairman and CEO
1996 - 2006
Michael B. Targoff
Chairman and CEO
2006 - Present
Positions
No positions added
About
Loral Space & Communications is a Delaware-domiciled U.S. satellite and telecommunications company formed in 1996 from the remnants of Loral Corporation following the divestiture of its defense electronics and system integration businesses to Lockheed Martin for $9.1 billion on January 8, 1996. It was led by Bernard L. Schwartz for 34 years until his retirement in 2006 and is currently headed by Michael B. Targoff. The company has historical involvement in the Globalstar satellite phone service, which launched in 2000 and filed for Chapter 11 bankruptcy in 2002. It has faced accusations of improperly transferring rocket technology to China.
Key Relationships
Richard Perle
consultant
While chairing the Defense Policy Board, Perle advised Loral Space & Communications as it contested U.S. government charges that it had improperly transferred rocket technology to China. Perle reportedly contacted State Department officials on behalf of Loral while simultaneously holding his DPB position — another instance of using his government advisory role to benefit private clients. The Pentagon IG investigation examined this alongside his Global Crossing work and found no violations.
Since 2001
Recent Events
Bernard L. Schwartz retirement
Bernard L. Schwartz retired after leading company for 34 years
1/1/2006
Appointed Chairman and CEO at Loral Space & Communications
Michael B. Targoff became Chairman and CEO in 2006
1/1/2006
Globalstar filed for Chapter 11 bankruptcy
Globalstar satellite phone service filed for Chapter 11 bankruptcy
1/1/2002
Consultant: Richard Perle → Loral Space & Communications
While chairing the Defense Policy Board, Perle advised Loral Space & Communications as it contested U.S. government charges that it had improperly transferred rocket technology to China. Perle reportedly contacted State Department officials on behalf of Loral while simultaneously holding his DPB position — another instance of using his government advisory role to benefit private clients. The Pentagon IG investigation examined this alongside his Global Crossing work and found no violations.
1/1/2001
Globalstar satellite phone service launched
Globalstar satellite phone service launched
1/1/2000