Word: litton
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Dates: during 1980-1989
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Last week in a New York City courtroom, AT&T was greeted with more bad news. A jury of five women and one man held that the company had unfairly driven Litton Industries out of the telephone equipment business, and awarded $92 million in damages to the California aerospace and electronics conglomerate. If the verdict survives legal challenges, the sum will automatically be tripled under federal antitrust laws to $276 million...
Trying to find at least one encouraging aspect to his company's latest courtroom setback, Edward Goldstein, assistant finance officer for A T & T, pointed out: "We believe the award of $92 million is unjustified, but it is a far cry from the $570 million that Litton had sought. We will appeal the verdict." At Litton's Beverly Hills headquarters, General Counsel Robert Lentz was less circumspect. Said he: "Certainly we are not unhappy. The verdict vindicates our position that the Bell System violated the antitrust laws." Even so, Litton is not expected to return to the rapidly...
...strictly legal terms, the Litton decision has no bearing on the biggest antitrust case of all against Ma Bell-the U.S. Government's suit to break up A T & T, in part by spinning off its equipment manufacturing division, Western Electric. But the adverse Litton decision may nonetheless make it politically more difficult for the Reagan Administration to drop the case, as both the Commerce Department and the Pentagon have urged. They maintain that the nation's economy and security require a strong...
...Bath Iron Works in Bath, Me., officials anxiously await the Government contract order for more new $200 million guided-missile frigates. At Litton Industries in Beverly Hills, executives are putting final plans together for a $64 million expansion to accommodate expected new Pentagon business. A few miles away in Hawthorne, Calif., the Northrop Corp. is preparing to quadruple production of the Navy's F/A-18 fighter plane to two per month...
...presidential commission headed by Litton Industries President Roy Ash recommended to Nixon that seven departments (Labor, Agriculture, Transportation, Interior, Commerce, HEW and HUD) be merged into four: Natural Resources, Human Resources, Economic Development and Community Development. The proposal was made at a tune when the Democratic Congress felt resentful of Nixon's aggressive assertion of presidential powers, constitutional and otherwise...