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Beth pa OP
*»«***C«R-RT**00
4 COPIES
Bethpa9e *-*
Vl Powell Ave
Bethpage MK ^ ' lH
VOL 27 NO, 2
YOUR OFFICIAL HOMETOWN NEWSPAPER
Serving Bethpage, Island Trees, Plainedge, Seaford, Old Bethpage & Plainview
JANUARY 21-27,1994
Pictured above the icicles which adorned many a car and left many
motorists with dead batteries, frozen doors and locks and broken
windshields wipers.
25 CENTS
GRUMMAN RESTRUCTURING
Calverton to Close, Engineering Moves
To Bethpage in Strategic Redirection
Nonetheless, it was beautiful. The ice storm left us all yearning for
warming temps, but mesmerized us with the gorgeous backdrop the
storm provided.
Record lows and even lower wind chills! This past week left many
Bethpage resident's homebound due to icy driveways and walks.
Weather forecasters recorded temperature readings of 3° with wind
chills, reaching 30°-50° below zero. Santa should have stuck around
— he'd feel right at home. The predictions for the week ahead are
(Continued on Page 7)
- Grumman Corporation
(NYSE: GQ) today
announced a plan to become more
competitive in the changing
defense market by further consolidating
facilities and restructuring
its operations. Overall, the company
will reduce operating costs
by nearly $600 million over the
next three.years.
,i Five major; Long Island, N.Y.,
.facilities will. t>e» closed over the
next two years, and the current 15
million square feet of nationwide
manufacturing, office and warehouse
space will be reduced by 4.5
million square feet. The restructuring
will reduce the current
17,900 person work force by about
500 people this year.
Grumman anticipates taking a
one-time, pretax charge of
approximately $85 million against
1993 earnings to cover the cost of
the restructuring. The earnings
announcement will be made the
week of January 24, and it is
expected that income excluding
this one-time charge will be at
least in line with 1992's $3.49 a
share from continuing operations.
Most of the charge is related to
reducing fixed assets and will not
have a significant impact on the
company's substantial cash
position.
"Grumman will be better positioned
to succeed in a shrinking
but still substantial defense
market," Renso Caporali, Chairman,
said. "We have resolved
many difficult issues, and our
customers, employees and share-holders
will benefit. This restructuring
will contribute to long-term
earnings and revenue growth.
"Not having to carry the burden
of these underutilized facilities
means we and our customers can
benefit from much more competitive
product costs," Caporali
continued. "For example, we will
be able.to save the Navy and
foreign customers millions of
dollars on each E-2C."
CALVERTON TO CLOSE
Aircraft manufacturing and
modification operations in the 1.5
million-square-foot facility at Calverton,
N.Y., will be moved to
Grumman's plant in St. Auaustine,
Fla., by the end of 1995. Approximately
1,500 people currently
work in Calverton. Most non-production
personnel will move to
Bethpage.
Since the mid-1950s, all Grumman
jet aircraft, including over
1,300 F-14 Tomcats and A-6
Intruders, have been built and test
flown at Calverton, which is owned
by the U.S. Navy. At present,
Calverton production is almost
entirely devoted to the Navy's E-
2C Hawkeye airborne early warning
aircraft. Six E-2C's will be built
at Calverton this year. Grumman's
Lake Charles, La., plant, where
work is done on the U.S. Air
Force's Joint STARS aircraft, also
has a manufacturing and modification
capability.
(Continued on Page 16)
I IN THIS ISSUE
BETHPAGE BRAG BOOK Page 9 & 15
WHAT & WHERE Page 2&3
SCHOOL NEWS Page 12, 13, 14
LETTERS TO THE EDITOR Page 6
FEATURED ARTICLES
1993 BETHPAGE STYLE . .Page 10
GRUMMAN RESTRUCTURES Page 1, 16
"HOME ALONE" KIDS .Page 8
AMERICAN LEGION ENTRY Page 11
Object Description
| Rating | |
| Title | Bethpage-Tribune_1994-01-21 |
| Subject | Newspaper |
| Description | This is a Newspaper distributed locally within Bethpage, Old Bethpage, Island Trees, Plainedge and Seaford. |
| Creator | Florence Cullem |
| Publisher | Florence Cullem |
| Contributors | Scanned and Prepared by Hudson Microimaging, Port Ewen, New York 12466. |
| Date | 2010 |
| Type | Periodical |
| Format | PDF; TIFF |
| Source | Bethpage Public Library |
| Language | English |
| Coverage | United States |
| Rights | The Newspaper is in the public Domain and Digital Rights Held by Bethpage Public Library. |
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