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Lockheed Martin

January 3, 2004 | Janet Wilson, Times Staff Writer
Racing to meet year-end tax deadlines, defense contract giant Lockheed Martin Corp. sold 9,117 acres of Riverside County wildlife habitat to California on Wednesday, with promises to clean up rocket-testing contamination at the site. The $25.5-million purchase was funded with $12 million in park bonds, $8 million in federal wildlife funds and $5.5 million in county developer fees.
September 28, 2003 | Cecilia Rasmussen, Times Staff Writer
Southern California aviation pioneer Glenn Luther Martin started his design career as a child -- snipping up his mother's bedsheets to build sails and kites. Whatever her reaction at the time, she became his biggest supporter as he designed and tested the nation's first twin-engine bomber and built a company that would become Lockheed Martin Corp. The Wright brothers' famous flight on Dec.
September 16, 2003 | James F. Peltz, Times Staff Writer
Lockheed Martin Corp., seeking to beef up its presence in military electronics and government computer systems, said Monday that it had agreed to buy San Diego-based Titan Corp. for $1.8 billion in cash and stock. Titan, with about 11,000 employees, develops and services sophisticated electronics and computer-based information systems used by the Defense Department, the Department of Homeland Security and other government agencies. The company's revenue last year was $1.4 billion.
August 28, 2003 | From Bloomberg News
Lockheed Martin Corp. agreed to pay $37.9 million to settle government allegations that it inflated costs on four Air Force contracts, the Department of Justice said. Lockheed allegedly overcharged the Air Force for infrared equipment used in nighttime navigation and targeting on military jets so the company could generate revenue to offset cost overruns on another Air Force contract. Lockheed denied any wrongdoing in this case.
June 11, 2003 | Peter Pae, Times Staff Writer
Lockheed Martin Corp., the world's largest defense contractor, sued Boeing Co. and three former Boeing employees Tuesday, alleging that its archrival stole proprietary documents and used them to win a multibillion-dollar rocket contract.
June 11, 2003 | From Reuters
Defense contractor Lockheed Martin Corp. has paid $7.1 million to NASA to settle charges it improperly claimed reimbursements from the U.S. space agency, the U.S. attorney in Houston said Tuesday. The deal ends a nine-year investigation by NASA's Office of Inspector General into a Lockheed unit that held a $1.14-billion contract to support the space shuttle program at the Johnson Space Center in Houston. The contract included a 10-year lease on two buildings owned by Lockheed Martin. The U.S.
March 28, 2003 | From Bloomberg News
Lockheed Martin Corp. won approval from a Pentagon review panel to get a $3-billion contract to build 20 more production models of the F/A-22, the Air Force's next combat jet, Defense Department officials said. The Defense Acquisition Board said the Air Force can award the contract even though concerns about the reliability of the stealth warplane's avionics software haven't been settled, officials said.
August 22, 2002 | From Reuters
Lockheed Martin Corp. successfully launched its newest rocket Wednesday on a mission heralding a new era of heavy-lifting launching vehicles for the next generation of satellites. Lockheed Martin has more than $1 billion invested in the Atlas 5, which roared off into mostly clear skies with a European communication satellite. Liftoff was on schedule at 6:05 p.m. EDT, Lockheed Martin spokeswoman Julie Andrews said.
June 29, 2002 | From Bloomberg News
Raytheon Co. and Lockheed Martin Corp. will share two Federal Aviation Administration contracts with a combined value of $2.7 billion to settle a complaint over the handling of one of the project awards, company and government officials said Friday. The agreement gives Raytheon a piece of a $1-billion project awarded to Lockheed Martin to improve computer software in 20 FAA centers that direct planes at high altitudes. Lockheed gets to be a subcontractor in a $1.
Lockheed Martin Corp. was fined $1.38 million by the U.S. Environmental Protection Agency for improperly operating its water cleanup system in Burbank, officials announced Thursday. Under the terms of a 1992 federal consent decree, Lockheed's Burbank unit was ordered to pump 9,000 gallons per minute from the local aquifer to help purge water supplies of toxic solvents. But the EPA said Lockheed, based in Bethesda, Md.
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