Word: litton
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Dates: during 1980-1989
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...deeply involved in the program. General Electric has sold eleven F404 engines to power LCA prototypes, and Allied Signal, Litton and Honeywell are among the front runners in the bid to provide flight control and other sophisticated systems. Reflecting Washington's desire to forge closer ties with India, the U.S. Air Force will provide training, consulting and testing facilities for the LCA. Washington hopes the agreement will render India less dependent on the Soviet Union; New Delhi still relies on Moscow for many of its weapons imports and most of its co-production deals. Says a Pentagon official: "U.S. policy...
...Morris and RJR Nabisco deals may prove to be textbook cases of smart corporate strategies. They could also turn out to be flops -- or so U.S. business history would suggest. In the 1960s some of America's most celebrated executives, including Harold Geneen at ITT and Charles Thornton at Litton Industries, acquired scores of companies and built huge conglomerates. Like many empires, they eventually declined. A similar fate may await some of today's dealmakers...
...issued and FBI agents staged surprise searches in more than three dozen homes and offices in twelve states. The 19 companies subpoenaed or searched, some of which are likely targets of the investigation, are a Who's Who of 19 defense contractors. Among them: Electronic Data Systems, Gould, Hazeltine, Litton, Loral, LTV, Martin Marietta, McDonnell Douglas, Northrop, Teledyne, Unisys and United Technologies. Since the raids, a federal grand jury in Alexandria, Va., has been delving into charges that some of these defense contractors and their consultants bribed Pentagon officials for inside information vital in bidding for contracts worth billions...
...that he ran the firm, Ford gathered around him men who became important leaders in their own right. Among them: Robert S. McNamara, Secretary of Defense under Presidents Kennedy and Johnson and later head of the World Bank; Chrysler Chairman Lee Iacocca; and Charles ("Tex") Thornton, who co-founded Litton Industries. Yet none of them ever claimed to understand the man they always addressed as Mr. Ford. When he died last week of complications from pneumonia in Detroit's Henry Ford Hospital, he was still unfathomable...
...biggest insider-trading scandal in Wall Street history kept reverberating last week. Litton Industries, the Beverly Hills-based conglomerate, filed a $30 million lawsuit against Shearson Lehman Bros., the finance-cum-brokerage firm, and Dennis Levine, the ex-investment whiz who has already pleaded guilty to a variety of insider-trading charges filed by the U.S. Government. Litton's contention: that in November 1982, while Levine was employed by Lehman Bros. Kuhn Loeb (now merged into Shearson Lehman), his illicit trading activities helped puff up the price of stock in Itek, an electronics firm, just as Litton was preparing...