Word: raytheon
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...come from domestic-security business. "It's well positioned to get a big piece of the homeland-security pie," says Tavares. And the pie will be big. Congress has pledged about $38 billion in 2003 for homeland security. Some of it will go to the likes of General Dynamics, Raytheon and Northrup, all of which sell security systems. But they tend to hire smaller shops like L-3 to make components, so, as Lanza puts it, "we won't be competing with the gorillas." Last year L-3 was a subcontractor for Boeing on several airport-security systems...
Promises of quick fixes have faded as the scale of the government's challenge has become clear. But the early setbacks have not deterred companies from setting up shop in or near Washington to get closer to the action. In the past year, Raytheon and EMC launched a joint government IT unit, and SAP relocated its global public-sector headquarters to the Washington area. And PeopleSoft launched two new products designed for the Homeland Security market...
...wooded area near Eveleth-Virginia Municipal Airport, about 175 miles north of Minneapolis. All eight passengers were confirmed dead. Wellstone was on his way to the funeral of the father of a state lawmaker. The plane, identified as a King Air, is a twin-engine turboprop made by Raytheon...
...industry that always gets a lift from war is the defense sector, and weapons contractors such as Raytheon and Northrop Grumman were among the few bright spots on Wall Street last week, with the sector shooting up a collective 37%. But investors may be assuming a bit too much. While the defense budget is now expected to rise from $316 billion this year to as much as $400 billion next year, the higher figure will still represent less than 4% of GDP--as compared with the 38% the U.S. spent...
...past few years he has earned the ire of some peers who fault him for failing to advance the conservative agenda while bringing home favors for his constituents. (Lott is such a renowned pork barreler that employees at Raytheon Co. in Forest, Miss., once serenaded him with a song of gratitude for landing them more than $72 million in defense appropriations.) The grumbling has become so strong that some on the right have begun to encourage the more zealous Don Nickles to challenge Lott's leadership...