Word: loralic
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Dates: during 1980-1989
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...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 of dollars. As part...
With the defense-industry slump expected to linger for at least the next few years, companies that have been hedging their bets by diversifying are likely to fare better than those that remain heavily dependent on a few projects. Loral has moved more aggressively into sales of the sophisticated defense electronics that have been relatively immune to budget cutting, while Lockheed is working on rocket motors for future space shuttles. But the companies that supply instruments of war to the nation's generals and admirals fear that the latest scandal will prompt a series of excessively restrictive new laws that...