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By Jon Meoli, jmeoli@tribune.com | December 12, 2013
A community group in the Loch Raven area got a first look Monday night at plans for Loch Raven Commons, a $45 million mixed-use development with up to 200 high-end apartments, commercial space and a village green proposed for the former Raytheon site on East Joppa Road. The meeting, which was held in Councilman David Marks' office, included the project's developer, the Buccini/Pollin Group, and an advisory committee comprising residents of nearby Towson Estates and Loch Raven Village that Marks formed earlier this year.
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NEWS
By Jon Meoli, jmeoli@tribune.com | December 12, 2013
A community group in the Loch Raven area got a first look Monday night at plans for Loch Raven Commons, a $45 million mixed-use development with up to 200 high-end apartments, commercial space and a village green proposed for the former Raytheon site on East Joppa Road. The meeting, which was held in Councilman David Marks' office, included the project's developer, the Buccini/Pollin Group, and an advisory committee comprising residents of nearby Towson Estates and Loch Raven Village that Marks formed earlier this year.
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BUSINESS
September 11, 1998
Military contractor Raytheon Co. said yesterday that it has formally completed its purchase of AlliedSignal Communications Systems of Towson, which was first announced in July, for $62.5 million.Raytheon spokeswoman Deborah Drew said yesterday that day-to-day operations of the plant, which has projected revenues of $122 million this year, will continue without disruption for the time being. She said company leaders will decide if any staff cuts are needed.Raytheon, based in Lexington, Mass.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | December 12, 2012
Defense contractor Raytheon Co. said Wednesday it has acquired the government solutions business of Harford County-based SafeNet Inc., a cyber security company that had previously announced the sale of that piece of the business to an undisclosed buyer. Financial terms of the sale were not disclosed. Belcamp-based and privately held SafeNet, which on Monday appointed a new CEO and president, had said in November that it was selling off the Torrance, Calif., business, acquired in 2004, which focuses on defense-related, custom-made classified encryption products.
BUSINESS
By Ted Shelsby and Ted Shelsby,Staff Writer | October 3, 1992
Claiming its bid was nearly 40 percent lower than the winning one, the local Westinghouse division is protesting the Army's recent award of a major radar contract to Raytheon Corp. in Lexington, Mass.The pact being disputed is for a ground-based radar used with a missile defense system similar to the Patriot. It is considered one of the few major radar contracts coming out of the Pentagon in the foreseeable future as military spending declines.Although the initial Raytheon award from the Army's Space and Strategic Defense Command totaled $614.
BUSINESS
By BLOOMBERG NEWS | December 12, 2002
LEXINGTON, Mass. - Raytheon Co. Chief Financial Officer Frank Caine resigned yesterday and was immediately replaced by Controller Edward Pliner, two weeks after the Securities and Exchange Commission sanctioned Caine for violating a rule barring selective disclosure of financial information. Pliner, 44, was a partner for PricewaterhouseCoopers LLP, Raytheon's auditor, before joining the defense contractor in April 2000. Caine, 52, will remain with the company awhile to assist Pliner, Raytheon said.
BUSINESS
By BLOOMBERG NEWS | February 9, 2000
NEW YORK -- Raytheon Co., the No. 3 U.S. defense company, said yesterday that it plans to sell $500 million of businesses this year as it cuts debt and focuses on more-profitable units. The company also told analysts and investors at a conference in New York that it expects revenue to rise an average of 4 percent to 6 percent annually from 2000 to 2004 and earnings to rise 10 percent to 15 percent in the same period. Raytheon said it expects revenue to rise 1.5 percent this year to $20.3 billion and net income to rise to $580 million.
BUSINESS
By BLOOMBERG NEWS | February 28, 1997
LEXINGTON, Mass. -- Raytheon Co. will shutter as many as a dozen defense plants and close more than 30 marketing offices in an effort to save money as it prepares to spend $12.5 billion on pending defense acquisitions, analysts said yesterday.The company also may consider selling a portion of its engineering unit to "unlock" its value, they said.Raytheon Chairman and Chief Executive Officer Dennis J. Picard told analysts and investors that the defense electronics giant would be closing "at least" seven of its 41 major defense facilities.
BUSINESS
By BLOOMBERG NEWS | April 18, 2000
BOISE, Idaho -- Morrison Knudsen Corp., a builder of power plants and industrial facilities, said yesterday that it has agreed to buy Raytheon Co.'s troubled construction and engineering business for $10 million in cash. The builder of the Hoover Dam and Trans-Alaska pipeline will also assume $500 million in liabilities. Raytheon, the third-largest U.S. defense contractor, will retain responsibility on four nearly completed projects and compensate Morrison Knudsen for any cost overruns on another.
BUSINESS
By BLOOMBERG NEWS | June 18, 1998
LEXINGTON, Mass. -- Raytheon Co. ended an almost yearlong search for a successor to Chairman Dennis Picard yesterday by naming AlliedSignal Inc.'s Daniel P. Burnham as president of the world's third largest aerospace company.Burnham, 51, was among those considered likely to succeed Picard, who has been with the company for 43 years. Picard is also chief executive officer.Burnham will join Raytheon July 1 as president and chief operating officer before becoming chief executive Dec. 1. Picard, 65, will remain chairman for no more than a year.
BUSINESS
By THE BOSTON GLOBE | August 8, 2006
For Israel, the best defense against rocket attacks could be a cheap defense. Even before fighting escalated this month between the Jewish state and Hezbollah, U.S. contractors had been working to supply Israel with countermeasures against the deadly rockets that the Lebanese militia has rained down on the north of the country. Ideas include low-cost interceptor missiles from Raytheon Co., and a laser system from Northrop Grumman Corp. that the U.S. Army has mothballed for lack of development money.
NEWS
By Rene Stutzman and Rene Stutzman,SPECIAL TO THE SUN | February 16, 2003
CAPE CANAVERAL, Fla. - It's a photo that has been viewed by millions - a small white puff coming off the left underbelly of the space shuttle Columbia 82 seconds after it lifted off the launch pad. The puff was a doormat-size piece of foam that had peeled off the external fuel tank and caromed off the orbiter at nearly 500 mph. It could be the key to what caused Columbia to break into pieces in a fiery streak across the sky when it tried to return to...
BUSINESS
By BLOOMBERG NEWS | December 12, 2002
LEXINGTON, Mass. - Raytheon Co. Chief Financial Officer Frank Caine resigned yesterday and was immediately replaced by Controller Edward Pliner, two weeks after the Securities and Exchange Commission sanctioned Caine for violating a rule barring selective disclosure of financial information. Pliner, 44, was a partner for PricewaterhouseCoopers LLP, Raytheon's auditor, before joining the defense contractor in April 2000. Caine, 52, will remain with the company awhile to assist Pliner, Raytheon said.
BUSINESS
By BLOOMBERG NEWS | July 23, 2002
FARNBOROUGH, England - Boeing Co. and Airbus SAS won orders for eight planes, down from 114 two years ago, as the year's major air show opened in Farnborough, and Boeing Chairman Phil Condit said the industry faces its worst-ever slump. It was a stark contrast from the show in 2000, when the world's two largest aircraft builders announced orders worth $15 billion on the show's first day. Airline traffic is expected to drop as much as 14 percent this year, "the worst decline the commercial aviation market has ever seen," Condit said at a news conference.
BUSINESS
By Gus G. Sentementes and Gus G. Sentementes,SUN STAFF | April 6, 2002
Northrop Grumman Corp. and Raytheon Co. said yesterday that they will team up to bid on a multibillion-dollar contract to install baggage screening devices in all of the nation's airports by the end of the year - and that might mean more work for Northrop's Linthicum-based Electronics Systems sector. The contract is potentially worth $3 billion to $4 billion during the next five years, the companies said. They will submit a proposal by Tuesday, and they expect a decision by the end of the month.
BUSINESS
January 15, 2002
In the Region Telenor completes its purchase of Comsat Mobile Telenor ASA has completed its $116 million purchase of Comsat Mobile Communications from Bethesda-based Lockheed Martin Corp., the Norwegian telecommunications group said yesterday. Comsat Mobile, with annual sales of about $100 million, provides global communications services for maritime, land mobile and aeronautical users. Government-controlled Telenor said Comsat Mobile will now be called Telenor Satellite Services Inc. and will be part of its satellite telecommunications division.
BUSINESS
By Greg Schneider and Greg Schneider,SUN STAFF | January 16, 1997
Northrop Grumman Corp. said yesterday that it will close four plants and lay off about 1,100 workers in its continuing effort to streamline and stay competitive.None of the actions -- which involve facilities in New York, Florida, California and Georgia -- affects the company's electronics factory in Linthicum, a spokesman said.He added that the total number of jobs lost at the closed facilities will be about 755, because of new positions created elsewhere.The announcement comes at a sensitive time for the California-based defense company, which is said to be locked in a mortal struggle with Raytheon Co. to acquire Hughes Aircraft.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | September 18, 2001
Yesterday was a mixed day on Wall Street for defense contractors. Some military suppliers posted big gains, and others were hit hard from investors. United Technologies Corp. was one of the big losers. Its stock fell more than 28 percent to close at $47.50. On the flip side, Raytheon Co., a maker of the Patriot missile and a variety of other products for the military, posted a gain of nearly 27 percent. "United Technologies got clobbered," said Nicholas P. Heymann, a defense analyst at Prudential Securities.
BUSINESS
By Ted Shelsby and Ted Shelsby,SUN STAFF | September 18, 2001
Yesterday was a mixed day on Wall Street for defense contractors. Some military suppliers posted big gains, and others were hit hard from investors. United Technologies Corp. was one of the big losers. Its stock fell more than 28 percent to close at $47.50. On the flip side, Raytheon Co., a maker of the Patriot missile and a variety of other products for the military, posted a gain of nearly 27 percent. "United Technologies got clobbered," said Nicholas P. Heymann, a defense analyst at Prudential Securities.
BUSINESS
By BLOOMBERG NEWS | October 3, 2000
LEXINGTON, Mass. - Raytheon Corp. said yesterday that its second-largest union had approved a four-year contract, ending a five-week strike by about 3,000 manufacturing workers in Massachusetts. Members of Local 1505 of the International Brotherhood of Electrical Workers walked off the job Aug. 27 after a dispute over wages and benefits. The strikers accounted for 3.2 percent of Raytheon's work force. Raytheon, the third-largest defense contractor, gave the members of the union a 14.7 percent pay raise over the next four years and will increase its contribution to their pensions, said David Polk, a company spokesman.
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