September 10, 2003

A NEW WAY OF DOING BUSINESS

Two years after the tragic events on September 11, many Americans only experience the impacts of the war on terrorism through the news. But many companies and their employees, including those in the Clear Lake area, are challenged with how this national conflict impacts the way they must conduct business. The United States government places strict export controls on U.S. persons and companies doing business with certain countries, companies, and individuals that could threaten American security, support terrorism, or violate international law. This includes Russia and other players that are active and important partners in the International Space Station, a vital part of this community’s aerospace initiative.

SPACEHAB’s Michelle Martin completes one of the on-line export compliance training program modules.

So how does a company and its employees ensure they are aware of and compliant with U.S. export rules and regulations? Webster-based SPACEHAB, Inc. is breaking new ground in this area, launching an Internet-based corporate export compliance system provided by Holland & Hart LLP of Denver. This type of training system is at the forefront of new applications being developed for corporate compliance and will soon become the benchmark for all export compliance programs. “Advances in computers and the emergence of the Internet, while improving productivity and communication, have increased the challenges associated with doing business within export regulations,” said Michael Kearney, President and Chief Executive Officer of SPACEHAB. “Now we can use that technology to protect our Company and personnel from inadvertent violations.”

Corporate reforms, enacted as a result of the Sarbanes-Oxley Act of 2002 passed by Congress in the aftermath of the corporate scandals involving Enron, Tyco, WorldCom, and others, stress employee training and record keeping related to regulatory compliance for publicly-traded companies. Export control is just one of the major compliance components made even more important by this act.

Unlike traditional paper-based classroom programs, employees using the on-line training have the flexibility to access and complete courses at their own pace from any computer with an Internet connection. As a result, the content becomes a full-time, current reference source rather than a once-a-year training class. Furthermore, the corporate export compliance staff has the ability to easily monitor the training status of all employees with maintenance of training records performed automatically.

This October, the Johnson Space Center is expected to grant several new space station contracts, and NASA is placing the responsibility of the export compliance function on the companies that are awarded this business. SPACEHAB is currently a finalist on three of these procurements and is taking the necessary steps to ensure they are ready and compliant.

FOR MORE INFORMATION:
Kimberly Campbell, Director of Marketing, SPACEHAB, Inc., ph. 713.558.5049, fax 713.558.5960, campbell@spacehab.com