BRIEFCASE NATIONAL ANNOUNCES TRS ASSET PURCHASE.Byline: - Staff and Wire Services CALABASAS - National Technical Systems Inc. announced Wednesday its cash acquisition of nearly all of the U.S. assets and business of the Information Technology Staffing Division of Salem, N.H.-based TRS See traffic engineering methods. TRS - term rewriting system Staffing Solutions, a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Fluor Corp. Additional terms of the deal were not disclosed. The acquired business currently has six offices serving 50 customers with more than 330 IT professionals, said NTS NTS National Technical Systems NTS National Trust for Scotland NTS Nevada Test Site NTS NT Server (Microsoft Windows) nts Not the Same NTS National Traffic System (amateur radio) Chairman and Chief Executive Officer Jack Lin. With offices in Boston; Detroit; Colombia, S.C.; Duluth, Ga.; Pleasanton, Calif., and Salem, TRS recruits and places IT and engineering professionals for clients in a variety of technical fields, including telecommunications, supply chain management, software engineering, programming, systems analysis and database development. E.U. panel approves Northrop-TRW sale BRUSSELS, Belgium - The European Union's head office gave antitrust clearance Wednesday to U.S. defense giant Northrop Grumman Northrop Grumman Corporation (NYSE: NOC) is an aerospace and defense conglomerate that is the result of the 1994 purchase of Grumman by Northrop. The company is the third largest defense contractor for the U.S. Corp.'s $7.8 billion purchase of aerospace systems company TRW TRW The Real World (TV reality show) TRW The Right Way TRW Tactical Reconnaissance Wing TRW The Retriever Weekly (University of Maryland, Baltimore, MD) TRW Thompson Ramo Wooldridge Inc Inc. The European Commission European Commission, branch of the governing body of the European Union (EU) invested with executive and some legislative powers. Located in Brussels, Belgium, it was founded in 1967 when the three treaty organizations comprising what was then the European Community said the deal between the two U.S.-based companies would only have ``a marginal impact in the European market.'' The E.U. said there was no worry of violations because the two companies will face stiff competition from a number of European rivals like the French company Thales SA, BAE Systems PLC of Britain, Alcatel SA and EADS EADS European Aeronautic Defence and Space Company N.V. EADS Expeditionary Air Defense System (USMC) EADS Extended Air Defense Systems EADS Environmental Assessment Data System EADS Echelons Above Division Study . CalPERS to ask GE to link stock options SACRAMENTO - The California Public Employees Retirement System will ask General Electric Co. to change the way it grants stock options for executives. CalPERS, the nation's largest pension fund, will submit a proposal with the Amalgamated a·mal·ga·mate v. a·mal·ga·mat·ed, a·mal·ga·mat·ing, a·mal·ga·mates v.tr. 1. To combine into a unified or integrated whole; unite. See Synonyms at mix. 2. Bank LongView Collective Investment Fund during the 2003 proxy season, officials said Tuesday. CalPERS owns about 46 million shares of GE, which has about 9.9 billion shares outstanding. Officials said the proposal will ask GE to make a portion of future stock option grants to senior executives ``performance- based'' - linked to an industry index or vested upon achieving performance targets. Best Buy takes hit on Microsoft news EDEN PRAIRIE, Minn. - Shares of Best Buy Inc. fell sharply Wednesday on news that the consumer electronics retailer said it might lose a key alliance with Microsoft Corp. Best Buy disclosed in a filing with the Securities and Exchange Commission late Tuesday it had been notified that Microsoft intends to allow the partnership to expire in March 2003. The Microsoft deal provides Minnesota-based Best Buy with money for advertising and reimburses the company for other expenses, in addition to profit sharing profit sharing, arrangement by which employees receive, in addition to their wages, a share of the net profits of a business. The purpose is to give them an incentive to increase their output through enhanced morale, less wasteful use of materials, better care of , Best Buy said. Best Buy is a major retailer of Microsoft products. Top Enron trader set to admit guilt SAN FRANCISCO - A former top Enron Corp. energy trader is to plead guilty in federal court today to a charge that he manipulated the energy market to drive up power prices, law enforcement officials said Wednesday. Law enforcement sources, speaking on condition of anonymity, said Timothy Belden, the former head of trading in Enron's Portland, Ore., office, is to plead guilty to one charge of conspiracy to commit wire fraud. The prosecution of Belden is the third of an Enron figure. Andrew Fastow, Enron's former chief financial officer, is accused of devising the company's complex web of off-the-books partnerships used to hide some $1 billion in debt from shareholders and federal regulators and is charged with money laundering The process of taking the proceeds of criminal activity and making them appear legal. Laundering allows criminals to transform illegally obtained gain into seemingly legitimate funds. , fraud and conspiracy. |
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