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Business briefs: June 21
Posted: Sat, Jun 22, 2002, 9:03 AM ET (1303 GMT)
- Boeing won a $162.4 million contract from the US Air Force Friday to modernize the GPS system. The contract is the second of three designed to update future Block 2F and 2R-M satellites to provide additional civil and military signals.
- StarBand and EchoStar resolved a dispute this week that sent StarBand into Chapter 11 bankruptcy protection. EchoStar, a StarBand investor, had been withholding payments and information from StarBand about subscribers it has signed up for StarBand's satellite Internet service after the two companies terminated their relationship earlier this year. EchoStar agreed to pay StarBand $710,000 and provide it with subscriber information.
- Astrium announced this week that it has reorganized its satellite division in order to streamline operations and secure new business. The reorganization will cerate three prime satellite divisions, in military communications, telecommunications, and Earth observation, science and navigation. A fourth division will be responsible for equipment and subsystems.
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