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Terrestrial concerns weigh on rocket entrepreneur

Published by Sigurd De Keyser on Fri Jul 15, 2005 7:52 am
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by Catherine Dolinski; Making payroll can be as hard as overcoming gravity

The laws of aerodynamics pose constant challenges for the guys at TGV Rockets.

So do insurance and making the monthly payroll.

“I never expected I’d spend so much time on business functions,” said Patrick Bahn, president and CEO of TGV Rockets, a fledgling rocket company in Bethesda.

“It took us three months to get our payroll and 401(k) systems up and running, which is horrendous,” he said. “It took us almost six months to get liability insurance. We went through nine carriers before we found one. Because if you’re doing aerospace, the liability is insane.”

Bahn said he has seen too many dreamers dabble in the aerospace business and fail. “Space cadets,” he calls them.

Bahn is a dreamer in his own right, having started his own rocket ship company in his mother’s basement in 2002 with a few loyal collaborators and no money to pay them. But he is also a businessman. As his business continues to grow, Bahn keeps his eye on his bottom line with the goal of transforming his company from “promising” to “profitable.”

Click here to read more at The Business Gazette.

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