Storm costs.Storm Costs; 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. may have to spend little, if anything at all, to repair its hurricane-damaged shipyards in Pascagoula, Miss., the 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 Times reported. The U.S. Navy has asked the Federal Emergency Management Agency The Federal Emergency Management Agency (FEMA) is the federal agency responsible for coordinating emergency planning, preparedness, risk reduction, response, and recovery. The agency works closely with state and local governments by funding emergency programs and providing technical for $2 billion to help rebuild Northrop's three Gulf Coast shipyards to their pre-Katrina levels. Most of the money would be used to rewrite Northrop's usual contracts with the Navy to shift the burden of hurricane-related cost overruns Noun 1. cost overrun - excess of cost over budget; "the cost overrun necessitated an additional allocation of funds in the budget" cost - the total spent for goods or services including money and time and labor and shipbuilding delays from Northrop to the government. L.A.-based Northrop also expects to get $1 billion from its insurers to repair damaged buildings. |
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