Word: grummans
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...indictment states that, during a five-year period in the 1980s, McDade accepted money, air travel, use of vacation houses, even a golf umbrella from five manufacturers in exchange for help in obtaining defense contracts. Among the companies seeking favors were Sperry (now Unisys), Grumman and United Chem-Con, a now defunct contractor based in Lancaster, Penn. McDade -- who ran unopposed for his party's renomination two weeks ago and won the Democratic nomination as well on a write-in vote -- denied the charges, saying the investigation had turned his life into "a living nightmare...
Overhauling used aircraft could also bring a measure of relief to Grumman, a Long Island contractor that has reduced its labor force by more than 11,000 workers, or nearly one-third, since the mid-1980s. The firm's problems stem from government cancellation of such workhorses as the F-14 Tomcat fighter and the A-6 Intruder attack jet. But Grumman president Robert Myers discerns a silver lining. "Grumman could benefit from major reductions in defense spending because the system would have to exist with the equipment in use," he says. That could mean lucrative contracts to service...
...just how vulnerable jobs can be. CBS said its profits fell 73% in the first quarter, to $23.3 million, and announced plans to dismiss 400 workers. In Boston GTE said slack defense spending meant layoffs for 500 of its workers at a unit that makes military communications equipment. Grumman said the slowdown will force it to cut 1,900 jobs. In Baltimore, insurer USF&G said it will reduce its work force by 1,900 positions...
...demise was prompted mainly by a series of scandalous failures that were typical of the way the military acquires most of its big-ticket weapons systems. When the A-12 contract was let in 1988, the McDonnell Douglas-General Dynamics team bid $1 billion less than its competitor, a Grumman-Northrop consortium. Since the bid was unrealistically low, the Avenger contractors quickly ran into excessive costs and slipped behind schedule...
...damage, companies want to plan carefully for the crunch. But so far, no one knows how deep the cuts will be or exactly where they will fall. A lobbying war has broken out in Washington as companies, cities and states battle to preserve their defense contracts. New York's Grumman and its supporters carried out a lobbying campaign -- described by one opposing Senator as "ruthless" -- to keep alive its F-14D carrier-based jet, and won a contract for 18 new planes at $75 million each...