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Online Stock Market Trading After a 20-month suspension on rocket launches, Boeing was given permission Friday to once again bid on Air Force satellite launching contracts worth billions to its rocket division.

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Stock Investing Game March 6, 2005 (AXcess News) Chicago - After a 20-month suspension on rocket launches, Boeing Corporation (NYSE: BA) was given permission Friday to once again bid on Air Force satellite launching contracts worth billions to its rocket division.

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Journal Prime Rate Street Wall Boeing had been suspended in 2003 from the Air Force's rocket launch program after an investigation revealed that the aeronautics giant had obtained copies of competitor Lockheed Martin's bid proposals in 1998 for weather, spy and communications satellites. At that time, the Air Force also suspended seven rocket launches Boeing had won and transferred them to Lockheed. The rocket launching contracts were estimated to be worth in excess of $1 billion at that time.

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Stock Market News The acting secretary of the Air Force, Peter B. Teets, was quoted as saying, "We hope that everyone who does business with the Air Force takes note of this case and is reminded that we tackle ethical breaches very seriously and will not hesitate to impose significant sanctions when necessary."

Stock Investing Basics At the time of the suspension Boeing's rocket launch assembly facility in Decatur Alabama was forced to layoff 84 workers.

Stock Investing Software Boeing also agreed to reimburse the Air Force $1.9 million for its investigation, though at the time, Boeing thought the rocket launch suspension would only last 60 to 90 days.

Stock Market Trading The U.S. attorneys office in Los Angeles continued to turn up new evidence that prolonged Boeing's rocket launch suspension, even saying that Boeing may have used stolen Lockheed documents to win NASA contracts.Advertisement

Stock Investing For Dummy Meanwhile, Boeing is in court with Lockheed over the stolen rocket launch documents and the Air Force has said it could reinstate the suspension if the investigation turns up new evidence.

Stock Market Crash Boeing's shares closed Friday at $58.38, up 96 cents, or 1.67 percent.

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