Hello Electro!
This is what I constructed this a.m. as a sketch for Barbara H. I looked at SEC documents yesterday and pieced together the most likely scenario for the Mitre connection to a public company known as Orbital Sciences. As you can see from below, there is no longer a relationship of this sensitive company of the now-late Fahd bin Salman.
Let me elaborate on the Saudi side. Gerald Posner's recently released and NY Times best seller "Why America Slept" as to its last chapter where a captive in the spring of 2002 connected to Al Qaeda began to "talk" led me to research those he identified as involved in the Sept. 11 plot. Of the four people named, three of the four died rather suddenly after the names were released to both Saudi and Pakistan intelligence late spring of 2002 -- the fourth one lives, Saudi Prince Turki who headed Intelligence until August 30, 2001,, and who spoke at Seton Hall yesterday, exclaiming his innocense (though he is a specifically named defendant in the Motley litigation for $1 trillion.
As I looked through the names, I realized one, Ahmed bin Salman, who "heart-attacked" while only in his 40s and just months after the names were "known" to intelligence services in 2002, was the son of the infamous Governor of Riyadh, Prince Salman, one of the Sudeiri 7 of the Al Faisal line that is Wahabbi extremist and supports the Muslim Brothers and questionable charitable causes. In fact Salman is the one who decided where all of the charitable funds will go .... and who has knowingly and willingly continued to dole them out to entities that sponsor terrorists.
As I went through a few articles on Ahmed (whose "War Emblem" won the Kentucky Derby) I noticed he had brothers (4), one of whom was also a horse fancier, Fahd bin Salman. I then looked into Fahd bin Salman to discover that he, in his 40s, had heart attacked July 25, 2001. This was a month before Prince Turki Al Faisal (his uncle) resigned as head of Saudi intelligence.
I thought "how odd," two brothers, both in their 40s, have heart attacks about a year apart.
One of the business names that came up with respect to Fahd bin Salman was Eirad which I attempted to research. It was involved in a deal to develop a ground center to receive satellite images, for example. Mitre Corp is involved in software development and consulting on so many of these satellite and ground systems, that the name came up in conjunction with Orbital Sciences that had a stake in Orbital Images (Orbimages) which in turned was reputedly owned as to 20% by
Fahd bin Salman.
Below are the fruits of my research.
However, what would be nice to know is whether or not there has in fact been a relationship between Mitre Corp and specifically Orbital Images (Orbimages) rather than just with Orbital Sciences.
So this is where I am with the research at this point.
Also, I have no background in science/technology to assist me in thinking about "possibilities" vis a vis the ground system that at one time Fahd's Eirad envisioned developing, where it would then contract to provide images to Prince Sultan (his uncle) and his Defense Ministry.
Keep care, send any ideas this way. Above sets the stage and below answers a few questions.
Lois
----- Original Message -----
From: Lois Ann Battuello
To: Honegger, Barb
Sent: Wednesday, October 15, 2003 10:40 AM
Subject: mitre and eirad (Fahd bin Salman)
Barbara,
I finally had a chance to look into SEC records about the reputed connection
of Eirad to Orbital Images (Orbimage) which is connected to Mitre through
consultancy of Mitre as somewhat an overseer and software supplier for Orbital
Sciences to try to determine the connection.
Again, why this is important is that Fahd bin Salman, a son of Salman who is
Governor of Riyadh who controls Saudi Arabia's charitable giving (some of which
flows with their full knowledge to support Palestinian Islamic Jihad, Hamas,
Hizbollah and Al Qaeda as Al Gore told them in no undercertain terms in 1999
on several visits to "knock it off"). Salman's son Fahd was also active in
charitable functions and both King Fahd and Fahd bin Salman appeared to
be obsessed with providing money to create kidney treatment centers at Saudi
Arabia's most prestigious hospitals (if one wants to be speculative, indeed these
facilities would have won the admiration of Osama bin Laden).
Fahd bin Salman is the brother of Ahmed bin Salman and close cousin of
another named by captive Zubaydah as key conspirators in the September
11 plot, according to Gerald Posner in "Why America Slept." With an agency
relationship to Pakistan through its Pakistan International Airlines (which is
government owned) and Fahd's affinity for race horses like his brother Ahmed,
exploring Eirad only makes "good sense." While not addressed by Posner
in his book, since Fahd bin Salman was not named by Zubayah, just like
Ahmed a year later, Fahd met an untimely death by heart attack -- a fellow
in his 40's, July 25, 2001. Posner does note Zubayah provided information of
Pakistani ISI complicity, and also named Mir.
The assertion in 1995 + by Fahd's Eirad was that it was "affiliated with Orbital
Sciences" and owned 20% of Orbital Images. There is no evidence that notes
that were likely held by Eirad and were registered with the SEC were ever
converted to shares of stock for Eirad. I looked through the list of shareholders
of Orbital Images and they included institutional investors such as Merrill Lynch
and none of the other funds held shares of sufficient quantity to constitute 20%.
There was also a legal opinion about the legality of the conversion of the notes, and after this appeared in an annual report, the company was delisted by March 31, 2001.
The delisting occurred four months before Fahd bin Salman had his heart attack.
The relationship of Orbital Images was described in a 1999 press release as
one of "affiliate." I checked the registration forms (S-4's) and noted that 63%
of Orbital Images was owned by Orbital Sciences which is a NYSE issue that
trades under the Ticker Symbol ORB. The share prices from a languishing
just under $3 doubled during the Iraq war likely due to stepped up revenue under
government billings for imaging work related to the war. And once Bush
announced a return to Star Wars, the stock shot up again, to $10 per share.
ORB is beholding to Mitre which develops the type of software to control
satellites like those produced and launched by Orbital Images. These are
low to mid-range orbiters what photo to earth with such incredible accuracy
one can literally "see all." These types of low and mid-range orbiters are
also used in space based missile systems. Therefore, both the hardware
and software are carefully controlled and Mitre is a main developer and consultant
in this field both to the U.S. Air Force, other defense agencies and the private
sector.
As I reviewed the last financial statement filed by the Fahd-related Orbital
Images, it showed significant annual losses over the five years reported,
$3 million, $4 million, and in its final year (2000) it was $11 million. This
of course suggests that the requisite ground system sought was never
acquired by Orbimages so that it could earn revenue ... either from a U.S.
provider or otherwise from another country. If the company had received
the income from the government of Saudi Arabia as planned, to conduct
imaging for the Defense Ministry, there of course would have been revenues
and no huge losses as depicted.
This is what appears to have happened. Orbital Images was designed as
a venture with Fahd's Eirad as a 20% venture partner. It might have been
designed as a spin-off without the knowledge of Orbital Sciences that
there was any Saudi connection, until the news broke in 1995-96 that
the company was going to build a ground system to serve Saudi Defense
Ministry. When it was reported in the Jerusalem Post, immediately Israel
reacted and then Bill Clinton came out directly and stated "oh no, this
type of technology will not go to Saudi Arabia." And that was that.
The reason the company Eirad still remained listed as Fahd's company
at the time of his death, despite the abysmal failure of its investment in
Orbimages is that it also held other assets, including the agency rights
with Pakistan International Airlines. Therefore, Eirad, whether profitable
or not (we would never know as it is a private company) survived, and
also appears as a trading company where undoubtedly other things are
booked. In Pakistan there was an Eirad involved in natural gas deals
and it might have been part of Fahd's Eirad venture.
If Mitre was involved in any way, it was most likely as a check and
balance against release of any type of software that would have been
used in the ground station. In this case then Mitre may have operated as a
watchdog, rather than a facilitator.
Perhaps you can share his with Bob for his review and comments.
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