November 22, 2011 |
The Pentagon announced that it awarded a contract worth as much as $7.4 billion to aerospace giant Lockheed Martin Corp. to upgrade the Air Force's problem-plagued fleet of F-22 Raptor fighter jets. The announcement said that the Bethesda, Md., company would "add new capabilities and enhance the performance of the aircraft. " Lockheed referred all questions about the contract to the Air Force, which said it could not provide details about the upgrade announced Friday. The F-22, which costs an estimated $412 million each, is the military's most expensive fighter jet and known to be its most advanced.
May 15, 1985
Lockheed Chairman Roy A. Anderson said at the firm's annual meeting that Lockheed is studying a possible bid for the Textron subsidiary. Anderson said that Lockheed could easily fund the purchase with cash and bank credit and that bids are due within one month.
CALIFORNIA | LOCAL
October 16, 1994
The recent announcement of Lockheed's departure from Calabasas is not so surprising to some of us. You must first understand that this company is one of the last holdovers from a dwindling industry--determined in the face of all reason to defy a changing world. I worked for Lockheed for 13 years, and when I recognized this futile determination, I jumped ship. I had been sent by Lockheed to award a developmental defense contract to a company in West Germany (two weeks after the wall came down)
May 14, 1986
The aerospace firm's shareholders approved the move, which was proposed by management in part to make hostile takeover attempts more difficult. The company said, however, that it knows of no current efforts to acquire Lockheed. The firm also announced that it is raising its quarterly dividend to 25 cents from 20 cents a share for stockholders of record on May 27. And Chairman Lawrence O.
May 19, 1987 |
MDB Systems Inc., a privately-owned developer and manufacturer of commercial and aerospace-related computer systems in Orange, said the Lockheed Corp. has purchased about 20% of the 17-year-old company. D.H. Daniels, vice president of operations for the giant aerospace company and defense contractor, has been appointed one of MDB System's five directors, the company said, while another Lockheed officer, Kenneth Oliver, will join the MDB Technology Advisory Board. Amos R.L. Deacon Jr.
September 28, 1986 |
Lockheed Corp. stands to earn $1 billion in excess profits on the controversial C-5B cargo aircraft program and has repeatedly rejected efforts by Air Force officials to renegotiate its contract, congressional investigators said in a document released Saturday. In an exchange of letters earlier this year, Lockheed executives told Air Force officials demanding a price reduction on the aircraft that the company has no intention of reducing a $2.
January 22, 1985 |
The Lockheed Electra that crashed near Reno Monday morning was the same plane that presidential candidate Jesse Jackson abandoned after a terrifying flight through a series of tornadoes over Texas last May. Monday's crash, which claimed 64 lives--including the pilot who flew Jackson for most of the two months that the candidate chartered the plane--was the latest in a series of accidents that have plagued the Electra aircraft since the model was first introduced in 1959.
April 19, 1985 |
Lockheed, continuing to benefit from increased defense spending, said first-quarter earnings increased 23.5% on a 31.3% increase in sales over the same period last year. The Burbank-based aerospace company said it earned $84 million in the first three months of 1985 on revenue of $2.1 billion.
September 12, 1992 |
Lockheed Corp. said Friday that it will close its MDB Systems Inc. division in Orange and consolidate its operations at a $1.8-million facility to be built in Nevada, just south of Reno. MDB employs about 80 people in the manufacturing plant in Orange. Larry Brown, director of marketing, said the company will offer all of those employees jobs at the Reno facility, though that operation will employ only 100 people.
CALIFORNIA | LOCAL
December 5, 1987 |
Lockheed-California Co. officials said they have offered to sell Burbank 20.5 acres that could be used for a conference center. Lockheed wants about $20 million for the site behind the Burbank Airport Hilton, City Manager Bud Ovrom said. On the property is a 520,000-square-foot wooden building that Lockheed has used as a warehouse since World War II, Dick Hileman, Lockheed's real estate director, said.