Northrop Gives Seymour $300,000 Thank-you For Tanker Deal

Previous Entry | Next Entry
By
Muhammed El-Hasan
on March 26, 2008 8:00 AM | | Comments (0) |

The former president of its El Segundo-based Integrated Systems sector helped Northrop snag the Air Force tanker deal that Boeing was favored to win.

By Edmond Lococo

March 25 (Bloomberg) -- Northrop Grumman Corp. and former executive Scott Seymour just exchanged parting gifts: He helped give the underdog contractor a win on a $35 billion Air Force refueling tanker contract, and Northrop gave him $300,000.

Seymour's payment is a ``special completion award'' for running the Integrated Systems unit that led the tanker bid, Century City-based Northrop said in a regulatory filing Tuesday.

Seymour's retirement, announced Sept. 19, became effective Feb. 29, the same day Northrop won the contract over Boeing Co., which had supplied the Air Force tankers for more than half a century and was the unanimous pick to win in a Bloomberg analyst survey. Seymour had already received a cash bonus of $800,000 for his 2007 performance, the company said in a Feb. 26 filing.

Read the whole story.

Leave a comment


Type the characters you see in the picture above.

About this Entry

This page contains a single entry by Muhammed El-Hasan published on March 26, 2008 8:00 AM.

Northrop Gives Seymour $300,000 Thank-you For Tanker Deal was the previous entry in this blog.

Bush Admin Wants More Regulations is the next entry in this blog.

Find recent content on the main index or look in the archives to find all content.

Powered by Movable Type 4.25

Search

About Biz Waves

Biz Waves is a one-stop Web hub for business news and content from the South Bay region of Los Angeles County and beyond.

The primary contributor is:

Muhammed El-Hasan, a business reporter at the Daily Breeze since 2000, covers aerospace and everything else about business in the South Bay. Muhammed previously reported at the San Bernardino Sun and the community news division of The Orange County Register. He also worked as a researcher in the Jerusalem bureau of the Los Angeles Times in 1996-97. But his career highlight as a young man was driving a forklift at a Gardena company near Hawthorne, where he grew up.

You can email Muhammed at muhammad.el-hasan@dailybreeze.com

Subscribe to RSS feed

Links

Advertisement