Business

November 30, 2012

Federal Launch Liability Indemnification Bill passed

The U.S. House of Representatives has passed an extension of the government’s authority to indemnify launch services companies from third party claims for certain amounts of money resulting from launch vehicle accidents.

The current authority expires Dec. 31, 2012. H.R. 6586 was not controversial, and it extends for two years the provisions of a 1988 law. The main argument for the bill is that the U.S. launch services industry needs a level playing field in order to successfully compete with other countries that indemnify their companies.

“I commend the House’s swift action today to extend commonsense space liability provisions for entrepreneurs engaging in commercial space launch activities that will ensure continued robust innovation in the commercial space sector,” said Congressman Kevin McCarthy, R-Calif., in a statement. “Our area is a leader in the commercial space industry in California and the country, which is why I was pleased to co-author this important bill and bring this legislation to the floor for a vote.  This legislation will help innovative commercial space companies – like those located right here in Eastern Kern and the Antelope Valley – prosper and create new American jobs that will keep our country on the cutting edge of space travel.”

Stuart Witt, CEO and general manager of the Mojave Air and Space Port and Chairman of the Commercial Spaceflight Federation said, “The House of Representatives took an important step today to protect a core American industry that provides high-tech jobs across the country. This extension of a provision expiring at the end of the year will allow American space launch companies to compete on the world market and ensure that we maintain the robust launch industry necessary for national security and economic growth.

Virgin Galactic president George Whitesides thanked McCarthy and the co-sponsors of this bill for their efforts to strengthen U.S. competitiveness in the worldwide launch market, and support the growing American commercial space industry.

 




All of this week's top headlines to your email every Friday.


 
 

 
boeing-ana2

Boeing announces ANA’s commitment to more jetliners

Airline continues fleet modernization with Boeing airplanes Boeing and All Nippon Airways announced Jan. 30 the airline’s intent to purchase three 787-10 Dreamliners to add additional flexibility to the airline’s 787 fleet....
 
 

Demand for airplanes lifts Boeing’s 4Q profit

Boeing’s fourth-quarter profit rose 19 percent as demand for commercial airliners trumped weakness in its defense business. Investors looked past a muted outlook for 2015 earnings and sent the shares to a 52-week high Jan. 28. Chicago-based Boeing and European rival Airbus have prospered as airlines around the world have gone on a shopping spree,...
 
 

Boeing wins $51 million contract to sustain ICBM guidance system

HUNTINGTON BEACH, Calif. – Boeing will provide sustaining engineering support for the guidance system of the Minuteman III intercontinental ballistic missile for the U.S. Air Force, ensuring the safety, security and effectiveness of the nation’s land-based nuclear deterrent, under a recently-awarded $51 million contract. “Since 1958, Boeing has stood alongside the U.S. Air Force to...
 

 

Orbital stockholders approve merger with ATK’s aerospace, defense groups

Orbital Sciences Corporation announced Jan. 27 that at a special meeting, the company’s stockholders voted overwhelmingly to approve the proposed merger with the Aerospace and Defense Groups of Alliant Techsystems Inc., pursuant to the definitive transaction agreement dated April 28, 2014. Approximately 99 percent of the votes cast at the special meeting voted in favor...
 
 

Northrop Grumman, MDA successfully complete command cyber readiness inspection

Northrop Grumman provided invaluable assistance for the U.S. Missile Defense Agency’s Excellent rating from the Command Cyber Readiness Inspection conducted on the Missile Defense Integration and Operations Center networks at Schriever Air Force Base, Colo. The CCRI evaluates a site’s compliance with information assurance and network defense policies and configuration standards for ...
 
 

Raytheon acquires Tucson-based Sensintel, Inc.

Raytheon has acquired privately-held Sensintel, Inc., a leading provider of unmanned aircraft systems solutions to the intelligence and special operations markets. Located in Tucson, Ariz., with approximately 50 employees, Sensintel will become part of Raytheon Company’s Missile Systems business. The transaction is not expected to materially impact Raytheon’s sales or earnings in th...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>