Northrop Grumman Corp., the last big-name aerospace company headquartered in Southern California, is headed out of town this week.More at that top link.
The nation's second-largest military contractor, founded in 1939 by visionary aircraft designer Jack Northrop, is officially moving its main office to Falls Church, Va., on Monday. It is a milestone for the corporation that along the way absorbed big names like TRW Inc., Litton Industries Inc., Westinghouse Electronic Systems and Teledyne Ryan Aeronautical.
Today, the company is an industry giant with about $35 billion in annual sales, building such things as sophisticated satellites, high-flying spy drones and the ghostly B-2 stealth bomber. While 300 members of its corporate staff departs, it still will have about 30,000 jobs in the Southland and remain one of the region's largest private employers.
The company joins an exodus of military companies — including Lockheed Martin Corp., Science Applications International Corp. and Computer Sciences Corp. — that have abandoned the Southland since the mid-1990s in favor of headquarters nestled nearer to decision makers in Washington.
"This is an important move for the company, and it's one that we believe will improve the effectiveness in serving the nation and our customers," said Northrop Chief Executive Wesley G. Bush in announcing the decision to move the company back in January 2010. "The proximity to Washington enables us to be a more integrated part of the federal process."
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Saturday, August 20, 2011
Northrop Grumman Bails Out of Los Angeles, Ending Headquartered Relationship Dating From 1939
At Los Angeles Times, "Northrop execs bail out of L.A., but the firm is still grounded in the region":
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