Word: launchful
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...Chung is having a second moment of infamy, because he has told investigators that he received $300,000 from Liu Chaoying, a top executive at China Aerospace International Holdings (the subsidiary of a huge Chinese satellite-launching outfit), and funneled at least $35,000 of it to the Democratic National Committee. Here's where it gets sticky: after Chung passed illegal money to the D.N.C., Clinton approved the transfer of commercial satellite-launch technology to China--technology that might have helped China improve the accuracy of its long-range ballistic missiles that threaten...
...evidence suggests there may be less to the China connection than meets the eye. Investigative sources tell TIME there's no evidence that anyone in the White House knew Chung was funneling money from Chinese sources or that Chung ever lobbied anyone about the transfer of satellite-launch technology. Chung's lawyer, Brian Sun, insists Liu never discussed satellites or waivers with Chung. At least part of their partnership concerned the prosaic business of trading auto parts and telephone equipment...
Clinton's China policy was largely inherited from George Bush. In 1989, as part of a sanctions package meant to punish Beijing for the massacre of students in Tiananmen Square, Senator Al Gore sponsored legislation barring U.S.-made satellites from being launched on Chinese rockets--unless the President declared such a launch to be in the national interest. Under pressure from American corporations desperate to get their satellites into orbit, Bush issued nine such waivers between 1989 and 1992--and Gore denounced him as "an incurable patsy." But after Clinton was elected President, he came under the same pressure from...
...personal-finance columnist, is a new contributor to TIME, but he's familiar to millions of investors. A former newspaper reporter, he now manages a Wall Street hedge fund. He explains the market's latest moves in frequent television appearances and on the investing website thestreet.com which he helped launch. His investing commentary and advice nicely combine the perspective of an active market pro with the verve of a sports fanatic. We're pleased to have Cramer aboard, and hope you will let us know what you think of him and our other columnists...
...attempts to restart it. The malfunctioning mainframe may prevent space shuttle Discovery from picking up the Australian-born Andrew Thomas this Friday, since NASA flight regs prohibit docking without an operational steering system on the other end. Now shuttle managers are meeting to decide whether to abandon Tuesday's launch altogether...