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BUSINESS
April 9, 1992 | From Associated Press
A French military contractor and two U.S. defense firms twice increased their offers for LTV Corp.'s missile and aircraft businesses Wednesday during a bankruptcy court auction. But a high bid by French-owned Thomson faced opposition from LTV's chief financial officer. James Powers testified that the company preferred the American bids to that of Thomson, a defense and electronics company, because of concerns that foreign ownership would jeopardize LTV's Pentagon contracts.
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BUSINESS
April 9, 1992 | From Associated Press
A French military contractor and two U.S. defense firms twice increased their offers for LTV Corp.'s missile and aircraft businesses Wednesday during a bankruptcy court auction. But a high bid by French-owned Thomson faced opposition from LTV's chief financial officer. James Powers testified that the company preferred the American bids to that of Thomson, a defense and electronics company, because of concerns that foreign ownership would jeopardize LTV's Pentagon contracts.
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BUSINESS
January 20, 1992 | From Times Staff and Wire Reports
Carlyle Group, a Washington-based investment firm, and French defense giant Thomson-CSF have made a joint bid for bankrupt LTV Corp.'s aerospace operations that exceeds the $350-million deal proposed by Martin Marietta Corp. and Calabasas-based Lockheed Corp., industry sources said Sunday. Dallas-based LTV, mired in a Chapter 11 reorganization since 1986, must sell its aerospace business to pay off creditors.
BUSINESS
April 2, 1992 | RALPH VARTABEDIAN, TIMES STAFF WRITER
The bidding war for LTV's aerospace business heated up Wednesday as Thomson-CSF, Carlyle Group and surprise entrant Hughes Aircraft said they would pay $400 million for the unit--$45 million more than offered previously by defense giants Lockheed and Martin Marietta. Besides the rising cash figures, the temperature of the rhetoric rose Wednesday over the possibility that Thomson, backed by the French government, could control a major U.S. defense firm.
BUSINESS
July 17, 1991 | RALPH VARTABEDIAN, TIMES STAFF WRITER
In a significant departure from conventional practice, major American aircraft firms aligned into at least four overlapping teams Tuesday to bid for the Navy's future AX attack jet program. Aerospace analysts said the unusual move was most likely prompted by a lack of consensus about exactly what the Navy wants in the AX, which is a $95-billion program meant to replace the canceled A-12 attack jet program. The industry announced Tuesday: * Grumman will lead a team with Lockheed and Boeing.
BUSINESS
April 2, 1992 | RALPH VARTABEDIAN, TIMES STAFF WRITER
The bidding war for LTV's aerospace business heated up Wednesday as Thomson-CSF, Carlyle Group and surprise entrant Hughes Aircraft said they would pay $400 million for the unit--$45 million more than offered previously by defense giants Lockheed and Martin Marietta. Besides the rising cash figures, the temperature of the rhetoric rose Wednesday over the possibility that Thomson, backed by the French government, could control a major U.S. defense firm.
BUSINESS
March 1, 1985 | DJ
LTV Aerospace & Defense Co., a unit of LTV Corp.,. was awarded Air Force contracts totaling $26.8 million for A-7 aircraft spare parts.
CALIFORNIA | LOCAL
June 27, 1986 | LEE DYE, Times Science Writer
A "space tug" that could fly from the space shuttle and retrieve nearby satellites will be built by TRW Inc. of Redondo Beach, the National Aeronautics and Space Administration has announced. Officially described as an "orbital maneuvering vehicle," the remote-controlled tug will be able to zip around in low Earth orbit to perform a wide range of chores and is to become a component of the United States' planned permanent orbiting space station.
CALIFORNIA | LOCAL
December 27, 2001 | From Times Wire Services
Melvyn R. Paisley, a former assistant secretary of the Navy who was a central target in a major defense procurement scandal in the 1980s, has died. He was 77. Paisley, a resident of McLean, Va., died of cancer Dec. 19, his wife, Vicki, told the Associated Press. He had been fighting the disease since the early 1980s.
BUSINESS
January 20, 1992 | From Times Staff and Wire Reports
Carlyle Group, a Washington-based investment firm, and French defense giant Thomson-CSF have made a joint bid for bankrupt LTV Corp.'s aerospace operations that exceeds the $350-million deal proposed by Martin Marietta Corp. and Calabasas-based Lockheed Corp., industry sources said Sunday. Dallas-based LTV, mired in a Chapter 11 reorganization since 1986, must sell its aerospace business to pay off creditors.
BUSINESS
July 17, 1991 | RALPH VARTABEDIAN, TIMES STAFF WRITER
In a significant departure from conventional practice, major American aircraft firms aligned into at least four overlapping teams Tuesday to bid for the Navy's future AX attack jet program. Aerospace analysts said the unusual move was most likely prompted by a lack of consensus about exactly what the Navy wants in the AX, which is a $95-billion program meant to replace the canceled A-12 attack jet program. The industry announced Tuesday: * Grumman will lead a team with Lockheed and Boeing.
NEWS
April 26, 1989 | MELISSA HEALY, Times Staff Writer
While the effects of Defense Secretary Dick Cheney's scaled-down defense budget would be felt by defense contractors nationwide, some of the hardest hits would fall on the district of embattled House Speaker Jim Wright (D-Tex.), long the most powerful proponent of that region's defense businesses. On Tuesday, Cheney confirmed the worst fears of workers for some of the Dallas-Ft. Worth area's major defense contractors, announcing that he has proposed canceling a futuristic Marine Corps aircraft called the V-22, discontinuing an Army helicopter program named AHIP and delayed production of the Air Force's stealth bomber.
NEWS
January 27, 1989 | JOHN M. BRODER, Times Staff Writer
Secretary of Defense nominee John G. Tower disclosed Thursday that he has received $763,777 in consulting and lobbying fees since 1986 from six defense contractors but said that he has severed all ties to the firms and that his decisions as defense secretary will not be swayed by past affiliations. "There will always be people who will suspect anyone who has been formerly associated with the defense industry," Tower acknowledged at the second day of his confirmation hearings.
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