ROCKETDYNE WORKERS TOLD THEIR JOBS SAFE : BOEING THROWS PARTY AS IT TAKES REINS IN CANOGA PARK.Byline: Dave McNary Daily News Staff Writer Top executives on Thursday sought to reassure anxious employees of Rocketdyne about the looming transfer of ownership to Boeing Co. from Rockwell International Rockwell International was the ultimate incarnation of a series of companies under the sphere of influence of Willard Rockwell, who had made his fortune after the invention and successful launch of a new bearing system for truck axles in 1919. Corp. ``We don't intend to cut back or make any significant consolidations,'' said Jerry King Jerry King is a cartoonist. He has received the National Cartoonist Society Magazine Gag Cartoon Award for 2001 and was nominated for their Gag Cartoon Award and Magazine Gag Cartoon Award for 2002. , president of Boeing's defense and space group, during a conference call about Boeing's $3.2 billion takeover of eight Rockwell aerospace divisions. ``We anticipate that our defense and space businesses will continue to grow.'' King also delivered a similarly upbeat outlook in a 30-second taped message played to Rocketdyne employees assembled for a somewhat subdued sub·due tr.v. sub·dued, sub·du·ing, sub·dues 1. To conquer and subjugate; vanquish. See Synonyms at defeat. 2. To quiet or bring under control by physical force or persuasion; make tractable. 3. Day One celebration at the massive Canoga Park headquarters plant. The event, which featured free cupcakes and caps with ``Rocketdyne-Boeing'' logos, was attended by about a quarter of the 4,100 local employees. ``I really believe the best is yet to come,'' King said. ``Not only will we become a stronger competitor but a more valued supplier.'' Rocketdyne and the other Rockwell divisions, including space shuttle space shuttle, reusable U.S. space vehicle. Developed by the National Aeronautics and Space Administration (NASA), it consists of a winged orbiter, two solid-rocket boosters, and an external tank. and aircraft modification A change in the physical characteristics of aircraft, accomplished either by a change in production specifications or by alteration of items already produced. operations, will become part of Boeing today in the climax of a deal announced in August. The operations will be renamed Boeing North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. , but Rocketdyne President Paul Smith told employees at the 20-minute gathering that the rocket-building division will retain the Rocketdyne name. King also promised that the Seattle-based aerospace giant has no plans to put Rocketdyne back on the sales block. ``We think it fits well and is oriented in the way we want to go,'' he said. Analysts have stopped short of suggesting that Boeing would make such a move immediately, but have noted that Rocketdyne was probably not as attractive an asset as the other Rockwell operations included in the deal. In a further gesture of reassurance, Smith told employees there are no plans to move from the San Fernando Valley San Fernando Valley Valley, southern California, U.S. Northwest of central Los Angeles, the valley is bounded by the San Gabriel, Santa Susana, and Santa Monica mountains and the Simi Hills. . ``We're not going anywhere,'' he said. ``Rocketdyne will continue to do business right here in the West Valley, just as we have for the past 41 years.'' Smith said Rocketdyne's local facilities, including testing grounds in the Santa Susana Santa Susana can refer to several places:
``We will continue to be the best propulsion and power company in America and . . . even more so because of the merger.'' Smith said Rocketdyne's operations in laser and electro-optics are also potential beneficiaries of the deal. Boeing led a group of companies that won a $1.1 billion contract last month to develop an airborne laser missile-killing system, beating out a team that included Rocketdyne. Rockwell is selling businesses that generate $3 billion of its $13 billion annual sales. In the transition, Boeing North American will have 21,000 employees, including 13,000 in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . ``This is a major milestone for Boeing,'' King said. ``The assets and capabilities we are acquiring are an extremely good strategic fit with our long-term objective of creating stockholder value. It also makes Boeing a major employer in California.'' After Thursday's celebration, Rocketdyne engineer Rod Uyekawa said he is optimistic that Boeing will spend more on aerospace research and development than Rockwell, focused on expanding its businesses in semiconductors and other commercial products, has done in recent years. ``Aerospace was not a big deal for Rockwell,'' Uyekawa said. ``With Boeing, it's all aerospace, so I think they may invest more.'' For himself, Uyekawa said, he hopes Boeing will replace his personal computer, powered with an Intel Corp. 486 microprocessor, with a Pentium-powered PC. He noted that many Rocketdyne engineers are working on the slower computers. In Washington, D.C., the Federal Trade Commission granted antitrust clearance to Boeing after the company agreed to change some government contract terms to protect competition. Without those changes, the FTC FTC See Federal Trade Commission (FTC). said, the Boeing-Rockwell combination could have damaged competition for Pentagon projects on high-altitude unmanned air vehicles and space launch vehicles This is a list of space launch vehicles sorted by country/operator in alphabetical order, commercial vehicles are listed under their corresponding country.
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To resolve antitrust concerns, Boeing agreed to give a competitor, Teledyne Ryan, the option of dropping Rockwell as a supplier on a Defense Department high-altitude unmanned vehicle project. Boeing is part of a rival team producing a similar product, prompting FTC concerns that the Rockwell acquisition might give Boeing an unfair advantage. The acquisition also positions Boeing as a supplier to more than one Pentagon space-launch vehicle program, the FTC said. The antitrust agreement requires Boeing to enact safeguards to make sure that company units working on different space-launch teams don't share confidential information Noun 1. confidential information - an indication of potential opportunity; "he got a tip on the stock market"; "a good lead for a job" steer, tip, wind, hint, lead they learn about competing firms. CAPTION(S): 2 Photos Photo: (1--Color) The new logo for Rocketdyne will show Boeing ownership. (2) Rocketdyne workers at Canoga Park help themselves to cake Thursday at ceremonies marking a takeover by Boeing. Michael Owen
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