Next for Northrop Grumman

Article Abstract:

Northrop Grumman of Los Angeles, CA, faces a crisis of shareholder confidence following the collapse of its proposed $10.7-billion merger with Lockheed Martin. The year-old offer was reportedly quashed by the Pentagon after the Defense Department announced the breakdowm of talks with the defense contractors in settling an antitrust issue. Analysts are recommending Grumman chief executive Kent Kresa either to make acquisitions or sell parts of the firm. The merger failure forces Northrop to concentrate on subcontracting rather than being a main supplier of airplanes.

Comment:

Faces a crisis of shareholder confidence following a collapse of its proposed $10.7-billion merger with Lockheed Martin

California, Aircraft, Northrop Grumman Corp., Article

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FAA to begin special audit of Boeing

Article Abstract:

The FAA will start on Dec 2, 1999, an inspection of Boeing Co's quality- control systems in its major factories. The factories whose manufacturing processes will be scrutinized are in Seattle, Everett and Benton, WA. The inspection comes after Boeing's admission that there were problems in different components of its production system. The FAA audit ends on Feb 29, 2000 after which Boeing could be fined.

Government regulation (cont), Boeing Co.

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FedEx not ready to abandon shipping

Article Abstract:

Federal Express Corp may be suffering from strong competition posed by e- mail services, but it remains strong in the export market, where it carries 35.5% of air shipments. Although investors are not as supportive of the stock, FedEx is optimistic about its success in package delivery service serving business. The parcel delivery service reported a 26% improvement in net income in fiscal 1999.

Scheduled Freight Air Transportation, All-Cargo Airlines, FedEx Express

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