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Pension problems and leadership changes. GenCorp withdrew its over-funded pension during the real estate boom years of 2006 and 2007. The real estate bust caused an underfunding of the pension plan of over $300 million. This caused a freeze of its pension plan on February 1, 2009, and an end to 401(k) match on January 15, 2009. The move was ...
The Mako Multi-Mission Hypersonic Missile is a stand-off hypersonic missile developed by Lockheed Martin and CoAspire, specifically designed to fit in the internal weapons bay of the F-35A and F-35C. [1] It is the first hypersonic weapon compatible with a fifth-generation fighter.
United Technologies Corporation (UTC) was an American multinational conglomerate headquartered in Farmington, Connecticut. It researched, developed, and manufactured products in numerous areas, including aircraft engines, aerospace systems, HVAC, elevators and escalators, fire and security, building automation, and industrial products, among others.
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A pension buyout (alternatively buy-out) is a type of financial transfer whereby a pension fund sponsor (such as a large company) pays a fixed amount in order to free itself of any liabilities (and assets) relating to that fund. The other party, usually an insurer, receives the payment but takes on responsibility for meeting those liabilities. [1]
A group of 90,000 former salaried workers at Ford (F) got an interesting offer late last month: In exchange for giving up the right to receive monthly pension benefits for the rest of their lives ...
90,000 [2] The Lockheed Corporation was an American aerospace manufacturer. Lockheed was founded in 1926 and merged in 1995 with Martin Marietta to form Lockheed Martin. Its founder, Allan Lockheed, had earlier founded the similarly named but otherwise-unrelated Loughead Aircraft Manufacturing Company, which was operational from 1912 to 1920.
April 15, 2024 at 10:17 PM. By Mike Stone. (Reuters) -Lockheed Martin has won a $17 billion contract to develop the next generation of interceptors to defend the United States against an ...