It also said it had "no current plans" to sell or change any operations of Ford Aerospace.
Now in the case of Ford Aerospace the issue takes on new dimensions.
Ambrose worked in management at Ford Aerospace for thirty-six years.
Hughes and Ford Aerospace are the leading producers of satellites used in international telecommunications.
Ford Aerospace will pay $7 million to the Government to settle accusations that it submitted false pricing information.
In 1990 Loral bought Ford Aerospace for $715 million, more than doubling the size of the company.
Ford Aerospace makes weapons and satellites.
The plan to sell Ford Aerospace represents a shift in corporate strategy for the nation's No. 2 auto maker.
In 1955 he started the Systems Research Corporation, which later became Ford Aerospace.
The contract for producing the weapon was eventually awarded to Ford Aerospace.