Word: thomson
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AMERICANS WINCE WHEN SOMEthing distinctly "American," like California beachfront or Rockefeller Center, is bought by foreigners. But an April 10 decision by a federal bankruptcy court in New York to allow the sale of the Texas-based LTV Aerospace and Defense Co. to Thomson-CSF, whose principal stockholder is the French government, raised questions far more vexing than matters of mere national pride. About 75% of LTV's products are defense- related, including such advanced systems as the Multiple Launch Rocket System and the B-2 Stealth bomber. French ownership would effectively guarantee French acquisition of LTV's classified American...
Complicating matters further, Thomson-CSF, with $6.8 billion in sales last year, recruited the Carlyle Group, an investment concern specializing in defense firms, to join in the offering for LTV. Their combined bid of $450 million bested by $65 million an offer by a consortium of two U.S. weapons- makers, Martin-Marietta and Lockheed Corp. After a protracted review process, Manhattan bankruptcy judge Burton Lifland awarded LTV's missile division to Thomson-CSF and its aircraft operations to Carlyle...
Critics challenged the sale, charging both unfair competition and a giveaway of American technological secrets. Not only is Thomson-CSF 60% owned by the French government, but so is Credit Lyonnais, the French bank that is the leading creditor for the Carlyle Group in the deal. As Martin Marietta chairman and ceo Norman Augustine puts it, "I can't compete with the deep pockets of the French government...
...would like to express our strong objection to the letter by Martin L. Kilson, Thomson professor of government, which appeared in the April 27 Crimson...
...Princeton--Simons (2), Thomson,Naylor, Magargee; Harvard--Winters (4), Berkery(2), Hansen (2), Walton, Downing. A:Princeton--Bristow; Harvard--Berkery, Hansen,Gaffney. S: Princeton--Saddic (2);Harvard--Leary (13).Isabel M. DedringDespite the efforts of SARAH DOWNING (9),CECI CLARK (5), and MARGOT McANANEY (19), theHarvard women's lacrosse team finished second inthe national championships yesterday...