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BUSINESS
February 27, 1998
Lockheed Martin Corp. and Northrop Grumman Corp. shareholders yesterday approved Lockheed's purchase of Northrop for about $12 billion.Lockheed shareholders approved the transaction during a shareholder meeting in Orlando, Fla. Northrop Grumman shareholders met in Los Angeles. Both votes were overwhelmingly in favor of the combination, which is awaiting approval from the Justice Department and the Defense Department.At the Northrop meeting, more than 54 million shares were voted, representing about 80 percent of the total shares outstanding.
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BUSINESS
By Scott Dance, The Baltimore Sun | August 25, 2014
When federal databases containing sensitive information on U.S. intelligence or nuclear weapons come under cyberattack, the agencies call on major companies like Lockheed Martin, Verizon and Booz Allen Hamilton - as well as a two-year-old startup in Federal Hill - to shore up defenses. Maddrix LLC is among seven companies to be the first ones accredited in a new National Security Agency vetting program. The firms use complex data analysis and digital forensics to root out invaders that are lurking or have left behind tracks during their intrusions.
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BUSINESS
By New York Times News Service | December 4, 1990
LOS ANGELES -- Lockheed Corp. rejected yesterday a buyout proposal by Harold C. Simmons, a Dallas investor, saying the plan would require too much new debt.Lockheed said its board had voted unanimously to reject the proposal, which called for the company and Mr. Simmons, who (( owns nearly 20 percent of Lockheed's shares, to take the company private at $40 a share, or a total of $1.6 billion.J. Landis Martin, Mr. Simmons' top aide, said he was disappointed with Lockheed's decision.He said he and Mr. Simmons now will consider their options, including the possibility of waging another proxy contest against Lockheed's management and board.
NEWS
By Frederick N. Rasmussen, The Baltimore Sun | August 8, 2014
Matthew T. Kellermann, a computer systems analyst and lifelong baseball fan, died Aug. 1 of a heart attack at his Ellicott City home. He was 53. The son of John L. "Jack" Kellermann, an American Telephone & Telegraph worker, and Ruth Bopp Kellermann, Matthew Thomas Kellermann was born in Baltimore and spent his early years in the West Hills neighborhood before moving in 1972 with his family to the Allenford neighborhood of Ellicott City. A 1979 graduate of Mount Hebron High School, where he was an outstanding varsity pitcher, he studied for two years at the Community College of Baltimore County's Catonsville campus.
BUSINESS
By Bloomberg Business News | November 10, 1994
WASHINGTON -- Lockheed Corp. expects to take a $200 million pretax charge for cost-cutting moves should its merger with Martin Marietta Corp. fail to go through, according to a filing with the Securities and Exchange Commission yesterday.At the same time, Calabasas, Calif.-based Lockheed said it expects its merger with Bethesda-based Martin to be completed in the first quarter of 1995.According to Lockheed's 10-Q filing, the charge would cover costs associated with cutbacks in light of shrinking post-Cold War military spending.
BUSINESS
By New York Times News Service | December 17, 1994
LONDON -- Lockheed Corp. yesterday won a $1.3 billion contract from the British government to supply 25 military transport aircraft, overcoming opposition that had split Britain's cabinet.The decision to order the Hercules transport planes, instead of waiting a decade for an untested, much more expensive European military model came over the objections of Trade Secretary Michael Heseltine and British Aerospace, which is helping to develop the European Future Large Aircraft, or FLA.They had said buying the Hercules from Lockheed, based in Calabasas, Calif.
BUSINESS
By Ted Shelsby and Ted Shelsby,Sun Staff Writer | February 7, 1995
Lockheed Corp., the giant defense contractor that is merging with Bethesda-based Martin Marietta Corp., reported yesterday a modest gain in fourth-quarter earnings.For the three months ended Dec. 25, Lockheed posted a profit of $137 million, or $2.14 a share, compared with earnings of $135 million, or $2.13 a share, a year earlier. Sales increased slightly to $3.8 billion in the most recent quarter from $3.7 billion.Fourth-quarter results were hurt somewhat by a charge to earnings of $25 million related to Lockheed's recent settlement of a federal charge that the company bribed an Egyptian politician to arrange the sale of transport planes.
BUSINESS
By BLOOMBERG NEWS | March 11, 2006
WASHINGTON -- Lockheed Martin Corp., the largest supplier of computer services to the U.S. government, beat Northrop Grumman Corp. for a contract to upgrade the computer systems FBI agents use to manage investigations, a person familiar with the competition said yesterday. The agency has chosen a company to upgrade its computer system and is in negotiations over the contract, Federal Bureau of Investigation spokeswoman Catherine Milhoan said, but she declined to identify the company. Joe Wagovich, a spokesman for Bethesda-based Lockheed, declined to confirm the order.
BUSINESS
By Bloomberg Business News | December 24, 1994
WASHINGTON -- Lockheed Corp. and Martin Marietta Corp. expect to complete their proposed $10 billion merger early next year, after resolving antitrust issues during closed-door negotiations with the Federal Trade Commission.People knowledgeable about the companies' talks with FTC staff say the two sides have signed a consent agreement to pave the way for the merger without requiring significant divestitures.The agreement, which still must be approved by commissioners at FTC, does place restrictions on the companies' ability to enter into exclusive teaming arrangements with other firms to submit joint bids for satellite projects.
BUSINESS
By C. Fraser Smith and C. Fraser Smith,Annapolis Bureau | March 12, 1992
ANNAPOLIS -- Lockheed Corp. wants to buy, lease or manage Baltimore-Washington International Airport, offering the state of Maryland an opportunity to reduce debt, save money and perhaps make a profit.Representatives of Lockheed Air Terminal, a subsidiary of the giant aircraft manufacturer, met for lunch in the governor's mansion yesterday with Gov. William Donald Schaefer; House Speaker R. Clayton Mitchell Jr., D-Kent; and Senate President Thomas V. Mike Miller Jr., D-Prince George's."It's the right way to go -- provided the state can work out a good deal," Mr. Mitchell said yesterday.
NEWS
By Jacques Kelly, The Baltimore Sun | April 2, 2014
Denise Charrier McQuighan, a database engineer and Johns Hopkins University graduate, died of cancer March 5 at her Gaithersburg home. She was 55. Born Denise Anne Charrier in Cincinnati, she was the daughter of George Charrier, an engineer who lives in Cody, Wyo., and Jacqueline Watson Charrier, a Hunt Valley resident. Mrs. McQuighan was a 1976 graduate of Cincinnati's Western Hills High School and earned a bachelor's degree in mathematical sciences from the Johns Hopkins University.
NEWS
The Baltimore Sun | February 11, 2014
Lockheed Martin Corp. announced Tuesday that it signed a contract to develop the world's largest wave energy project off Victoria, Australia, calling it a "significant step toward making ocean energy commercially available. " The New Ventures office of Lockheed Martin's Mission Systems and Training Baltimore site signed the deal with Victorian Wave Partners Ltd. to develop a 62.5-megawatt peak power wave energy generation project. The project will use a wave energy converter buoy pioneered by Ocean Power Technologies of Pennington, N.J. As the buoy moves up and down on waves, the mechanical energy drives an electrical generator, which is sent to shore through underwater cables.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 7, 2014
Aerospace firm Sigma Space Corp. has joined fellow Maryland companies Under Armour and Lockheed Martin in developing technology to help the U.S. Speedskating team at the Winter Olympics. Lanham-based Sigma Space said Friday its optical and mechanical engineers have been at work on a secret project since the fall to enhance skaters performance. Through its "Blade Runner" mission, the company aimed to build a tool that could polish skate blade sides, which never go through the sharpening common to blade bottoms.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | January 31, 2014
When they race this month at the Olympics, U.S. speedskaters will suit up in skin-tight, high-tech uniforms that research shows could make a measurable difference in their speed. In a quest to create the world's fastest suit for the 2014 Winter Olympics in Sochi, Russia, two iconic Maryland companies, Under Armour and Lockheed Martin, created a unique collaboration. Already a supplier for the team, Baltimore's hometown sports apparel brand turned to the Bethesda-based defense and aerospace giant to help it fashion the most aerodynamic suit possible, using computer modeling based on filming the athletes and hundreds of hours of wind tunnel testing.
FEATURES
By Kevin Rector, The Baltimore Sun | December 19, 2013
The Boy Scouts of America's ban on gay leaders is losing the organization more money -- this time from Maryland. This week, Bethesda-based Lockheed Martin, one of the largest private employers in the state, announced it will no longer provide philanthropic support to the Boy Scouts because of the nonprofit organization's "policies that discriminate on the basis of sexual orientation and religious affiliation. " Lockheed Martin announced its decision in a statement to the Atlanta Journal-Constitution on Wednesday.
BUSINESS
By Natalie Sherman, The Baltimore Sun | December 4, 2013
Lockheed Martin, a government contractor best known for its fighter jets, formally opened a health care center in Baltimore County Wednesday, part of a bid to expand the company's role in the medical sector. While health care services still represent a small portion of Lockheed's business, company representatives said they see the opportunity to apply Lockheed's technology and security background to the rapidly increasing amount of data entering the medical field. "We've done really large information systems in other domains, like defense intelligence … and health care is, I don't want to say just another domain, but it's going through the same pains and revolutions that we've seen in our other businesses," said chief scientist Michael Hultner.
BUSINESS
By Kristine Henry and Kristine Henry,SUN STAFF | October 23, 1998
Lockheed Martin Corp. yesterday announced a 2-for-1 stock split and a 10 percent increase in its quarterly dividend.Stockholders of record on Dec. 1 will receive one additional share for each share of common stock held, the Bethesda-based defense and aerospace company said. The new shares will be issued Dec. 31.The dividend increase, from 40 cents to 44 cents, will also be payable on Dec. 31.The increase "indicates the company's strong belief in the positive nature of its cash flow, and they're giving it back to investors," said Roger R. Threlfall, an analyst at J. P. Morgan Securities.
BUSINESS
By New York Times News Service | December 10, 1992
LOS ANGELES -- The post-Cold War consolidation of th American weapons industry continued yesterday with the announcement that the Lockheed Corp. would acquire General Dynamics Corp.'s military aircraft division for $1.53 billion in cash.The transaction puts Lockheed, based in Calabasas, Calif., neck and neck with the nation's largest military aircraft maker, McDonnell Douglas Corp. It also further reduces the number of military contractors available to supply the Pentagon, concentrating a major jet fighter contract at one company.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | October 4, 2013
Bethesda-based Lockheed Martin said Friday that it will furlough about 3,000 employees across the company beginning Monday and warned that more workers would likely be sent home in later weeks if the federal government's partial shutdown continues. Spokesman Gordon Johndroe said the company could not say Friday afternoon how many Maryland workers are in that group, but the furlough "affects all our business areas across the country. " Lockheed Martin employs about 7,500 people in the state.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | June 13, 2013
Defense contractors Lockheed Martin and Northrop Grumman said Thursday that they've won a $91 million contract for radars to be used on Saudi Arabia's Apache attack helicopters. Northrop Grumman said its share of the Longbow work would be handled from its electronic systems division in Linthicum. Lockheed Martin is based in Bethesda. The companies said the contract is for Longbow Fire Control Radars for the Royal Saudi Land Forces Aviation Command and the Saudi Arabia National Guard, spares and support for the aviation command and Longbow mast mounted assemblies for the U.S. Army.
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