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Loral Aerospace

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BUSINESS
July 2, 1992 | DEAN TAKAHASHI, TIMES STAFF WRITER
In a deal valued at $197.5 million, Loral Corp. said Wednesday that it will acquire the 41% stake in the former Ford Aerospace Corp. that it does not already own. The defense electronics company said it signed an agreement with a unit of Shearson Lehman Brothers to buy the rest of Loral Aerospace Corp. in Newport Beach for 6.15 million shares of Loral stock.
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BUSINESS
July 2, 1992 | DEAN TAKAHASHI, TIMES STAFF WRITER
In a deal valued at $197.5 million, Loral Corp. said Wednesday that it will acquire the 41% stake in the former Ford Aerospace Corp. that it does not already own. The defense electronics company said it signed an agreement with a unit of Shearson Lehman Brothers to buy the rest of Loral Aerospace Corp. in Newport Beach for 6.15 million shares of Loral stock.
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BUSINESS
March 10, 1991 | DEAN TAKAHASHI, TIMES STAFF WRITER
A year ago, the melting of the Cold War was seen as a doubled-edged sword for those who work in Orange County's defense industry. With the Soviet threat greatly diminished, the Pentagon and weapons makers were forced to face a troubling question: Who's the enemy? And with no clear rival, how do you justify spending billions for new weapons programs that are the industry's lifeblood? "The past two years were great for my grand-kids but bad for my business," said Richard A.
BUSINESS
March 10, 1991 | DEAN TAKAHASHI, TIMES STAFF WRITER
A year ago, the melting of the Cold War was seen as a doubled-edged sword for those who work in Orange County's defense industry. With the Soviet threat greatly diminished, the Pentagon and weapons makers were forced to face a troubling question: Who's the enemy? And with no clear rival, how do you justify spending billions for new weapons programs that are the industry's lifeblood? "The past two years were great for my grand-kids but bad for my business," said Richard A.
BUSINESS
February 16, 1991 | DEAN TAKAHASHI, TIMES STAFF WRITER
The Defense Department is seeking to recover $178.3 million from an over-funded pension program that Loral Corp. used to acquire a Ford Motor Co. defense subsidiary last October, according to documents obtained by The Times. In a letter dated Dec. 21, the Defense Logistics Agency, which oversees Pentagon contracts, asked Loral to return $178.3 million in excess pension assets that Ford Motor retained as partial payment for the sale of Ford Aerospace Corp. in Newport Beach.
BUSINESS
June 9, 1992
Datametrics Corp., a Chatsworth maker of printers and other computer equipment for aerospace, military and industrial markets, said it has received two contracts valued at $2.8 million to provide printers and keyboards for the U.S. Air Force. Datametrics was selected by Loral Aerospace Corp. in Colorado Springs, Colo. The contracts call for Datametrics to deliver the printers and keyboards beginning in 1993. The company said it expected additional follow-on orders.
BUSINESS
July 2, 1992 | From Times Staff and Wire Reports
Loral to Buy Rest of Former Ford Aerospace: Loral Corp. said it will buy the remaining shares of the former Ford Aerospace Corp. in Newport Beach for 6.15 million shares of stock, a deal valued at $197.5 million. Loral said it signed an agreement with a unit of Shearson Lehman Bros. to buy the 41% stake in Loral Aerospace Corp. that it does not already own. The transaction completes Loral's acquisition of the former Ford Aerospace Corp.
BUSINESS
May 28, 1991 | Dean Takahashi, Times staff writer
Settlement Negotiations: Loral Corp., the New York-based defense electronics company, has entered into settlement negotiations with the Pentagon in a dispute over Loral's use of excess pension funds to help finance its acquisition of Ford Aerospace Corp. in Newport Beach. Linda Nichols, spokeswoman for the Defense Logistics Agency, which oversees Pentagon contracts, said Loral has offered to settle the dispute, and the two parties are now in negotiations. Loral allowed Ford Motor Co.
BUSINESS
January 31, 1991 | DEAN TAKAHASHI, TIMES STAFF WRITER
In an unusual action, a Defense Department agency is demanding that the government receive a portion of an over-funded pension plan used by Loral Corp. in acquiring a Newport Beach defense firm from Ford Motor Co. last October, an agency spokeswoman said Wednesday. The Defense Logistics Agency, which oversees Pentagon contracts, asked in a letter dated Jan. 8 that Loral Aerospace, formerly Ford Aerospace Corp.
BUSINESS
October 25, 1990 | DEAN TAKAHASHI, TIMES STAFF WRITER
Ford Aerospace Corp. on Wednesday officially got a new owner and a new name--Loral Aerospace--when Loral Corp. completed its $715-million acquisition of one of Orange County's largest aerospace contractors. "The marriage of Loral and Ford Aerospace joins complementary programs, technologies, markets and customers and brings new dimensions to our business," said Bernard L. Schwartz, chairman and chief executive of Loral Corp., a New York-based defense electronics concern.
BUSINESS
February 16, 1991 | DEAN TAKAHASHI, TIMES STAFF WRITER
The Defense Department is seeking to recover $178.3 million from an over-funded pension program that Loral Corp. used to acquire a Ford Motor Co. defense subsidiary last October, according to documents obtained by The Times. In a letter dated Dec. 21, the Defense Logistics Agency, which oversees Pentagon contracts, asked Loral to return $178.3 million in excess pension assets that Ford Motor retained as partial payment for the sale of Ford Aerospace Corp. in Newport Beach.
BUSINESS
March 21, 1992 | ANNE MICHAUD, SPECIAL TO THE TIMES
Two partners and four associates at the Thelen, Marrin, Johnson & Bridges law firm in Irvine have quit to join a rival county firm. The six lawyers, who specialize in environmental and construction litigation, have joined the Newport Beach office of Crowell & Moring, a firm based in Washington. Randall L.
BUSINESS
July 9, 1991 | Dean Takahashi / Times staff writer
The Pentagon has reduced an earlier estimate and now claims that Loral Corp. owes it $133 million from the overfunded pension plan of Newport Beach-based Ford Aerospace Corp., which Loral, a New York-based defense contractor, purchased 11 months ago. The pension dispute arose when Loral allowed Ford Motor Co. to keep Ford Aerospace's $213.3 million in excess pension assets as part of the purchase price for Ford Aerospace.
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