Northrop Grumman wins approval to acquire TRW
Shareholders approved the 7.8 billion sale of 101 year old TRW to defense giant Northrop Grumman, clearing the way for completion. TRW headquarters in Lyndhurst to be phased out and donated to Cleveland Clinic. Northrop and TRW executives praised the deal as boosting competition in space electronics and defense markets.
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TRW Inc
Northrop Grumman Corp
Northrop
TRW
Santa Monica
Calif
Lyndhurst
Cleveland Clinic
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Philip A. Odeen
Northrop Grumman
Department of Justice
Kent Kresa
European Union Antitrust Authority
New York
Grumman
Citigroup warns Enron deal risk in Bacchus transaction
A Citigroup official testified at a Senate hearing that Enron lied about its accounting in a multimillion-dollar pulp and paper deal. Lawmakers contend CitiGroup and J P Morgan Chase aided Enron’s deceptive accounting, with internal memos describing verbal guarantees and bending standard policies.
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Enron
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J.P. Morgan Chase
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Collins
William Fox
Global Power and Energy Group
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Fastow
Delta CEO warns industry may go bankrupt without security cost relief
Delta Air Lines chief Leo Mullin told a Washington luncheon that the entire airline sector could collapse if the government does not cover aviation security costs and end the $2.50 per-segment security tax. He estimated industry losses near $10 billion this year due to higher security costs and fewer passengers, noting airline reimbursements started after Sept. 11.
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Delta
Congress
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Bush
John Mica
R-Fla
House Aviation Subcommittee
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Workplace spam not a big problem
The St. Petersburg Times reports a Pew survey finding that workplace e mail faces relatively little junk mail with 71 percent of workers saying few messages are junk. It also notes that 52 percent deem e mail essential, most users send and receive small daily volumes, and personal or humorous messages occur at modest rates.
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Pew Internet & American Life Project
Pewinternet Org
Pew
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