Space Station Could Prove to be a Bittersweet Victory for Boeing. (Originated from The Wichita Eagle, Kan.)

SEATTLE--Aug. 19--Bigger profits or bragging rights? The Boeing Co. may see neither as prime contractor on the troubled space- station program.

As do other big defense contractors, Boeing wants to blunt the impact of lower military spending, partly by branching into other peacetime applications of its aerospace technology.

So at first blush, the government's decision to award Boeing the space- station contract Tuesday looked like a big victory for the company, which has faced the additional problem of weakened demand for its commercial aircraft. Boeing closed up 62 1/2 cents at $39 a share Wednesday.

But the contract isn't a true example of defense …