Beleaguered Grumman Corp. can look for continued bad news from Washington. Despite strong pressure from the New York congressional delegation, Defense Secretary Richard B. Cheney is standing firm in his plan to end production of Grumman's F-14 fighter. Instead, the Pentagon wants the Navy to buy a new version of McDonnell Douglas Corp.'s F/A-18. Long Island-based Grumman has already announced plans to trim its work force by 7% this year. Although New York members have won support for a plan to order the Navy to buy 12 new F-14s, Cheney has the clout to stop the move.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Smartphones Are Killing Americans, But Nobody’s Counting
- Why a Pub in the Middle of Nowhere Was Named the World’s Best Restaurant
- Gulf Coast Oil Spill May Be Largest Since 2010 BP Disaster
- Marc Faber Asked to Leave Sprott Board After Racist Report
- Airbus Snaps Up Bombardier Jet in New Challenge to Boeing