Congress is asking top U.S. defense contractors to disclose their corporate plans if the military is forced to cut $500 billion from its budget early next year, putting the companies in the middle of a political fight between Republicans and the White House.
updated: Thu Mar 29 2012 15:58:00
CNN's Kaj Larsen profiles a man who got no compensation after serving 17 years in prison for a crime he didn't commit.
Alan Northrop was playing pool in 1993 when his life changed forever. He was lining up a bank shot when he felt something on his wrist: a handcuff.
News item: New York City selects Nissan to design and build the "Taxi of Tomorrow." The Japanese automaker will supply a purpose-built version of the iconic yellow cab reimagined as a minivan starting in late 2013.
The Air Force announced Thursday it awarded a $3.5 billion initial contract to Boeing for the production of 18 next-generation aerial refueling tankers.
Northrop Grumman announced Friday that it will lay off 380 workers at its sprawling shipyard in Newport News, Va.
First it was Hurricane Katrina, then it was the BP oil spill. Now the Louisiana coastal region faces a third economic crisis: Northrop Grumman Corp. will close the shipyard in Avondale, eliminating 5,000 jobs.
The Dow gained Wednesday after the Federal Reserve said that economic activity is picking up, and that it will hold a key short-term interest rate steady for an extended period of time.
A new twist in the Air Force's 10-year effort to build an aerial refueling tanker may bring a bid from a Russian state-owned aerospace company for the $35 billion tanker contract, according to the company's U.S. attorney.
U.S. stocks were poised for a lower start Tuesday as investors expressed uncertainty about the outlook for markets on the anniversary of the bear-market low.
Northrop Grumman Corp. said it will not bid on a multi-billion-dollar contract to build a new air refueling tanker for the U.S. Air Force because it believes the rules for the contract favor its competitor, Boeing.
Middle-class Americans aren't the only ones worried about how the market has drop-kicked their retirement funds. U.S. companies are also looking at big losses in their pension funds - losses that could force them to dip into earnings to cover their employee obligations.
It's a fun way to address a serious problem.
updated: Thu Oct 23 2008 09:35:00
Schoolteachers take a zero-gravity flight to help inspire their students to learn about science and space.
How an aging fleet of flying gas stations shows that, once again, politics can trump what's best for the military
The Defense Department will push back its decision on a $35 billion tanker contract to the next administration, delaying again the hotly disputed competition between Boeing and Northrop Grumman to replace the Air Force's aging aerial refueling fleet
The Pentagon has "terminated" the competition for an Air Force airborne tanker contract for now, leaving the decision for the next presidential administration, a statement from the Defense Department said Wednesday.
Boeing Co. is considering bailing out of a politically charged competition for a $35 billion contract to build aerial refueling tankers for the Air Force, if it does not receive an additional four months from the Pentagon to assemble its offer
The first passenger plane equipped with a system to repel shoulder-fired missiles successfully completed its flight, a British defense and aerospace company announced Wednesday.
Boeing Co. and Northrop Grumman Corp. will submit new offers for a disputed $35 billion Air Force tanker contract, and the Pentagon will pick a winner by the end of the year
The Pentagon will reopen bidding Wednesday for one of the largest contracts in military history, Sen. Richard Shelby, Republican of Alabama, said in a statement on his Web site.
Stocks appeared set for a volatile open Thursday as investors looked to regain their footing after a heavy day of selling.
The GAO rules that a flawed process saw a U.S.-European consortium win a bid to build a new refueling tanker. The response on Capitol Hill was all about home-state jobs
Congressional auditors urged the Air Force to reopen bidding for a new fleet of aerial tankers Wednesday, finding the service made "significant errors" in awarding the $35 billion contract to Northrop Grumman.
Though it looks like a space-aged android playing the harmonica, it's actually a device designed to protect you in a biological or chemical attack.
updated: Mon Apr 28 2008 09:54:00
CNN takes you behind the scenes of a homeland security expo.
Military planes have them. Major airlines don't want them.
Stocks cut losses Monday, ending mixed, as investors struggled with record high oil prices, a weakening dollar and more discouraging economic news.
Stocks pared earlier losses Monday morning as oil prices set a new trading high and investors looked past signs of weakness in the manufacturing sector.
U.S. stocks eased at Monday's open, with investors considering some comments about the economy and awaiting a key report on manufacturing.
Stocks looked set to kick off the first trading day of March on a downbeat note, as worries about the slowing economy and weak dollar continued to stalk investors.
The U.S. Air Force on Friday announced one of the largest military acquisition programs in U.S. history, saying the service had chosen Northrop Grumman over Boeing to replace its aging air refueling tanker fleet.
Here we are, nearly eight years into the 21st century, and the most spectacular manned mission NASA can pull off is a trip to the International Space Station, a mere 210 miles above the Earth.
Boeing (BA) ranks no. 28 on FORTUNE's list of America's largest corporations.
Stocks are set for an uneven start Monday as investors try to sort through a slew merger-and-acquisition deals in the first full trading week of 2007.
U.S. stock investors will try to sort through the corporate announcements at some key trade shows Monday as the first full trading week of 2007 begins.
Shoulder-fired missiles, referred to in military-speak as MANPADS (Man-Portable Air Defense Systems) are showing up on the black market more and more these days and U.S. officials are becoming increasingly concerned about their risk to commercial aircraft.
Despite the choppy market over the past week, the Dow Jones industrial average has still rebounded more than 14 percent from this year's lows. Nonetheless, lots of blue-chip growth stocks remain unusually cheap.
Dear Annie: How can I achieve a balance between standing up for myself at work and being regarded by colleagues as a bitch? Overall, I'm a pretty easygoing person, I try to help others out when I can, and I volunteer for assignments. The problem: When I need to say "no" or point out that I just can't take on anything else because I'm already buried in work, I get accused of being uncooperative, not a team player, or "bitchy." But when my male counterparts do and say the same things, no one seems to mind. What am I doing wrong, or what can I do to change the perception? -No Prima Donna
Northrop Grumman ranks no. 190 on FORTUNE's Global 500 this year, with $30.7 billion in revenues, up 2.9% from the previous year. The Los Angeles, California-based company was ranked no. 166 on the 2005 list. Its 2005 profits were $1.4 billion, up 29.2% from a year earlier.
Even if you can't afford to build your own superyacht - Bill Joy's boat could end up costing $50 million, depending on how many more man-hours he racks up at the Huisman yard in his quest for the best, plus $3 million a year to operate - there's a way to get onboard: Charter.
For years, the U.S. military has wanted a plane that could loiter just outside enemy territory for more than a dozen hours and, on command, hurtle toward a target faster than the speed of sound. And then level it.
The Bush administration is looking to military contractors for high tech help controlling the U.S. border, according to a published report.
Northrop Grumman ranks no. 67 on this year's list of the FORTUNE 500, with $30,721 million in revenues, up 2.9% from the previous year. The Los Angeles-based company was ranked no. 58 on the 2005 list. Its 2005 profits were $1,400 million, up 29.2% from a year earlier.
Nearly five years after September 11, the airline industry is finally adopting new in-flight technologies to keep planes safe from terrorists.
It's a sad comment on the times in which we live, but the federal budget that President Bush sent to Congress on Monday signals further gains for defense stocks. Prime beneficiaries include General Dynamics and Northrop Grumman, both of which are on the Sivy 70 list.
NEW YORK (CNN/Money) - There have been few places for investors to hide in what's been a lackluster market lately.
If you scan the reams of "best advice" in the preceding pages, you'll notice a pattern: Many of the key advice givers are older and wiser bosses. No surprise there. It's the managers in their 50s a...
Defense stocks rallied to all-time highs after George Bush was re-elected. But the positive outlook for the group isn't just the result of his victory.
Wake up and sell the coffee: that was the message that entrepreneur Mike Sheldrake got a few years back when he concluded, "I was going to have to either do something radical or close my doors." Hi...
Giancarlo de Astis has found a solution to his midlife crisis: pursuing his childhood passion, airplanes, by making furniture out of used parts. His latest design is the much-anticipated La Fortuna...
Investors will look to several large earnings releases and three pieces of economic data with hope that Wednesday's late day rally will continue over into Thursday morning.
With the bull market celebrating its first birthday, we thought it would be a good time to look back on some of our recent investing picks and pans. Here are some of our best and worst calls, and o...
The Department of Homeland Security announced Tuesday that it has selected three companies to continue research into ways to thwart shoulder-fired missile attacks on U.S. commercial aircraft.
Scott Shaffar, a senior IT executive at Northrop Grumman, spent the late 1980s helping guide the company's plans for the B-2 bomber. But the 41-year-old with a Ph.D. in mechanical and aerospace eng...
First the bad news: The portfolio of seven stocks we chose as best investments for 2003 are down 5% from Dec. 2 (when we wrote about them) through April 22. Now the really bad news: The S&P 500 is ...
As we close out the third consecutive down year for the stock market, conventional wisdom has never been more worthless -- which is why a conventional recovery seems so unlikely.
As bear markets go, this one is rewriting the rule book. Large-cap stocks have been mauled worse than small-caps, and corporations are running scared while consumers keep the economy afloat--both t...
If you can't hit your target straight on, sometimes it pays to launch a flanking attack. That strategy has certainly worked for Ron Sugar. Two years ago Sugar's career hit a wall after he clashed w...
It's the most technologically challenging, toughest-to-manufacture product. It delivers more striking power than the combined navy and air forces of most nations. It's the nuclear-powered, Nimitz-c...
Bear with us for a moment as we review some news from February.
Sure, shares of defense contractors like Northrop Grumman and Lockheed Martin have shot up since the Sept.11 attacks. It's only natural: America is at war. But the big guns aren't the only ones ben...
No one knows precisely what President Bush's "new kind of war" against terrorism will look like--as Defense Secretary Donald Rumsfeld soberly notes, our opponents "operate in the shadows and we hav...
Just how rich would you be if you had bought all 43 stocks recommended in this column between January and June? Well, who knows exactly, but you would be smiling like the cat that ate the entire av...
So rapidly has the defense industry shrunk in recent years that "consolidation" sometimes seemed a polite way of saying "collapse," as one famous name after another disappeared into a black hole. B...
Merger fever shows few signs of abating in 1997; in the first three weeks of January alone, a cool $46.5 billion of deals were announced, including Raytheon's purchase of GM's Hughes division. Here...
Mergers and takeovers are in fashion again. Within the past six months, Viacom snapped up Paramount for $10 billion, Northrop bought Grumman for $2.1 billion, Gerber agreed to be acquired by Sandoz...
WHAT DO YOU DO when your business starts catching flak? ''I used to be a pilot,'' says Renso Caporali, CEO of Grumman, which delivered its last F-14 seven months ago -- and currently has no orders ...
JOHN SUNUNU isn't the only manager whose expense account is coming under close scrutiny these days. Companies are pushing harder than ever to make sure that business trips are really necessary -- a...
WHEN MILITARY historians look back on the 20th century, they may well call the war against Iraq the last big hurrah for America's awesome arms industry -- an all-stops-out, razzle-dazzle, techno-ki...
As bean counters peer through their green eyeshades and see -- egads! -- a recession, corporations are squeezing their travel costs. One result: More business people are checking into ''limited-ser...
ANALYSTS WILL OFTEN JUSTIFY stock recommendations on the basis of rosy earnings forecasts. While their overall accuracy is good -- 90% of quarterly forecasts are off by less than 10%, according to ...
THE LONG-TERM future is dark for defense contractors -- but don't expect the big guns to admit it. ''We're one of the strongest companies in terms of programs with high national priority,'' says Lo...
How often does someone tell you what not to invest in? Probably about as often as Hugh Hefner gets married or the Cubs win the pennant. Some 83,000 stockbrokers, 3,100 equity and bond analysts, 23,...
ILENE S. GORDON, 36 TENNECO INC. The vice president of Tenneco's Packaging Corp. of America subsidiary knows how to turn boxes into big business. Gordon runs PCA's specialty packaging unit, which m...
Chief executives at major defense contractors, such as Northrop's Thomas Jones, will be gritting their teeth as Congress takes the knife to the Pentagon's proposed $306 billion budget. But don't lo...
DEEP IN THEIR HEARTS, utility men love to build generating plants. Big boilers, broad dams, tall stacks. Power for the nation. And this is the time when utilities would normally be starting a new r...
In pay as in all things, risk and reward should go together. But sometimes they don't. Consider: -- We all know about Pennzoil's $3 billion victory over Texaco. Pennzoil's board showed its gratitud...
MEET BILL AMES -- beefy, amiable, and a 66-year-old bargain extraordinaire. Bill retired three years ago. But his former employer, Varian Associates, a $1-billion-a-year high-tech equipment maker, ...
Even though retired chairman William Spoor's return to Pillsbury to ''help'' his successor, John Stafford, was billed as temporary, it looked as if Spoor could end up replacing his heir (FORTUNE, N...
EXECUTIVES OF Northrop Corp. have been taking a lot of flak lately. The defense contractor botched production of the guidance system of the MX missile, bringing Northrop reams of bad publicity, con...
When raider T. Boone Pickens buys, Wall Street follows. In late July Boeing disclosed that Pickens's Mesa Limited Partnership had acquired a small stake in the company and was seeking government pe...
Most investors buy convertible bonds as a conservative way to own common stocks. Since such bonds can be exchanged at the owner's option for common shares in the same company, convertibles apprecia...
IF AMERICA is going to wipe out its monster trade deficit, these companies will have to lead the way -- and last year they began to. The falling dollar took its own sweet time helping them out, but...
NOT SINCE THE EARLY DAYS of the Carter Administration has the defense lobby run into such political flak in Washington. There'll be winners and losers aplenty when Congress passes the 1986 defense ...
YEAR AFTER soaring year, American arms makers have ridden Ronald Reagan's military buildup to record sales and earnings. Along the way they have amassed vast hoards of cash, paid off billions of do...
In response to the Pentagon's call for more competition among U.S. defense contractors, Northrop Corp. has led a campaign to sell the F-20 Tigershark, a sleek, low-cost rival to General Dynamics' F...
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