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BUSINESS
October 4, 2006 | From the Associated Press
The Federal Trade Commission said Tuesday that it had approved a joint venture between Lockheed Martin Corp. and Boeing Co. to launch satellites for the government, removing a final barrier to the long-delayed proposal. Although the commission concluded that the $1.
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BUSINESS
September 16, 2006 | Peter Pae, Times Staff Writer
Northrop Grumman Corp. said Friday that it would not appeal NASA's surprising decision to award a multibillion-dollar contract to rival Lockheed Martin Corp. to build an Apollo-like capsule that would return humans to the moon. Last month, Northrop and teammate Boeing Co. lost the contract, potentially worth $8.1 billion over a dozen years, despite having played a key role in the development of the Apollo program in the 1960s. "We don't plan to protest," Northrop spokesman Brooks McKinney said.
BUSINESS
September 1, 2006 | Peter Pae, Times Staff Writer
Aerospace companies with major operations in Southern California saw their lunar dreams turn to dust Thursday when they lost out on a multibillion-dollar contract to send humans back to the moon. In a decision that surprised industry observers as well as the losing parties, NASA announced that it had chosen Lockheed Martin Corp. to build Orion, an Apollo-like capsule that would succeed the current space shuttles and return humans to the moon as a steppingstone to a manned mission to Mars.
BUSINESS
August 23, 2006 | From Bloomberg News
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.
BUSINESS
August 18, 2006 | From the Associated Press
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.
BUSINESS
August 15, 2006 | From Bloomberg News
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.
BUSINESS
June 13, 2006 | From Bloomberg News
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.
BUSINESS
April 8, 2006 | From Bloomberg News
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.
BUSINESS
March 11, 2006 | From Bloomberg News
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.
BUSINESS
January 17, 2006 | Peter Pae, Times Staff Writer
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.
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