Lockheed

Lockheed Martin Corp.'s political action committee agreed to pay a $27,000 penalty because its former assistant treasurer filed false reports to cover up his embezzlement, the Federal Election Commission said. The Lockheed Martin Employees' Political Action Committee filed false reports detailing its contributions and expenditures based on information submitted by the committee's assistant treasurer at the time, Kenneth Phelps, according to the agreement. He was fired in 2004, Lockheed said.

Lockheed Martin Corp., the largest U.S. military contractor, said Thursday that it had agreed to buy Pacific Architects & Engineers Inc. for an undisclosed cash amount, expanding Lockheed's range of support services for the military and other federal agencies. Pacific Architects, based in Los Angeles, provides facilities operations and maintenance for military bases, personnel training and disaster relief services. The company has about 6,000 employees worldwide.

Lockheed Martin Corp., the biggest U.S. defense contractor, filed a protest with the Government Accountability Office over the Army's decision to eliminate the company's C-130J transport from a competition for a new cargo plane. Bethesda, Md.-based Lockheed's C-130J did not meet some initial technical requirements of the Army and the Air Force's Joint Cargo Aircraft program, according to a July 28 letter to the company from the Army. The accountability office will issue its decision by Nov.

Lockheed Martin Corp. agreed to buy closely held military software maker ISX Corp. of Camarillo to expand sales of information technology to the U.S. government. Terms weren't disclosed. ISX has 40 employees including 28 workers with secret or higher level government security clearances, said a spokesman for Bethesda, Md.-based Lockheed.

Lockheed Martin Corp. received Pentagon approval to begin initial production of the F-35 Joint Strike Fighter. The decision allows production of some parts and composite materials needed to build the jets, a Defense Department spokeswoman said. Bethesda, Md.-based Lockheed won't assemble entire aircraft at this stage, she said.

Lockheed Martin Corp. beat Northrop Grumman Corp. for a contract to upgrade computer systems that FBI agents use to manage investigations, a person familiar with the competition said. The agency has chosen a company for the upgrades and is in negotiations over the contract, FBI spokeswoman Catherine Milhoan said. She declined to identify the company. Lockheed declined to confirm the order. The Wall Street Journal reported that Bethesda, Md.

It's the blimp industry's version of David and Goliath. An obscure Tarzana firm run by Russian emigres is locked in competition with Lockheed Martin Corp., the world's largest defense contractor, to win a Pentagon contract to build 900-foot- long, blimp-like aircraft to move cargo and troops into combat zones.

Lockheed Martin Corp.'s $879-million contract to develop a spy plane was canceled by the Army. Lockheed has had problems controlling the Aerial Common Sensor's weight and cost since it won the contract in August 2004 from Northrop Grumman Corp., builder of the Army's current spy plane.

The Air Force and Pentagon are close to deciding whether they will recommend approving a rocket-launch joint venture between Lockheed Martin Corp. and Boeing Co., Deputy Air Force Secretary Ronald Sega said. The Federal Trade Commission is awaiting the recommendation before it determines whether the venture, called the United Launch Alliance, complies with antitrust laws.

The Pentagon will restructure an $11-billion Lockheed Martin Corp. satellite program to warn of enemy missile attacks, tying future funding to the performance of two initial satellites already under contract, a defense official and an industry analyst said. Officials had already decided to keep alive the Space Based Infrared System High program, for which Northrop Grumman Corp. of Century City is designing advanced infrared sensors, given the lack of backup plans.