BRIEFCASE.Byline: - Staff and Wire Services Northrop contract worth $40 million EL SEGUNDO El Segundo (ĕl sēgŭn`dō), industrial city (1990 pop. 15,223), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1917. Its products include navigation and computer systems, aircraft parts, office machines, telephone apparatus, and - El Segundo-based defense contractor Noun 1. defense contractor - a contractor concerned with the development and manufacture of systems of defense armed forces, armed services, military, military machine, war machine - the military forces of a nation; "their military is the largest in the region"; Northrop Grumman was awarded a $40 million contract for 24 targeting and navigation pods to be used in Marine aircraft, company officials announced today. The F/A-18 Hornets are currently outfitted with ``Litening AT'' pods borrowed from other fighter jets, such as the AV-8B squadrons. Soon the Hornets will have their own specialized sensors pods, which allow for target identification, laser tracking and more. Currently, 360 Litening AT pods have been ordered by the United States and foreign governments for military use. Low rates power real estate market SAN FRANCISCO - Rising interest rates are supposed to be an economic sedative sedative, any of a variety of drugs that relieve anxiety. Most sedatives act as mild depressants of the nervous system, lessening general nervous activity or reducing the irritability or activity of a specific organ. , but the hyperactive hy·per·ac·tive adj. 1. Highly or excessively active, as a gland. 2. Having behavior characterized by constant overactivity. 3. Afflicted with attention deficit disorder. real estate market has retained its vigor even as the prime lending rate The lowest rate of interest that a financial institution, such as a bank, charges its best customers, usually large corporations, for short-term unsecured loans. The prime lending rate is an economic indicator and is often used as a measuring point for adjusting interest has climbed to a nearly four-year high. One of the biggest reasons for real estate's unusual behavior is that home mortgages are less expensive than they were 14 months ago when the Federal Reserve Board began to push up the short-term cost to borrow money. Those low financing costs mean home buyers can qualify for larger loans - a major factor why real estate prices have continued their steady ascent. Maytag will sell to Whirlpool DES MOINES, Iowa “Des Moines” redirects here. For other uses, see Des Moines (disambiguation). Des Moines (pronounced /dɪˈmɔɪn/ in English, - Maytag Corp. agreed Friday to a half cash, half stock buyout from rival Whirlpool Corp., reversing an earlier recommendation to shareholders to accept a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of investment group's all-cash deal. Whirlpool, the nation's leading appliance maker, increased its offer on Wednesday for the third time, by $1 per share, proposing to buy Maytag for $1.79 billion, or $21 a share. Including the assumption of $977 million of Maytag debt, the entire deal was valued at $2.7 billion. LaSorda new top exec for Chrysler DETROIT - When Chrysler Group's incoming Chief Executive Tom LaSorda visits an auto plant, he wonders if a machine should be moved three feet to the left to save steps. He clocks how much time workers spend in front of vehicles and how many seconds they lose moving between stations. He takes unannounced detours across the plant floor. LaSorda, 51, will take over the top job at Chrysler on Jan. 1, nearly six years after he joined the company and began his dogged effort to improve productivity. LaSorda, currently Chrysler's chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , will replace president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dieter Zetsche. Airfares go higher to pay for jet fuel DALLAS - Higher airfares looked more likely Friday as American Airlines, Northwest Airlines and JetBlue Airways went along with competitors' increases that the companies said were necessary to offset rising fuel prices. Airline stocks skidded after a three-week surge pushed the price of crude oil near a record of $67 a barrel during the day, taking jet fuel prices along with it. |
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