Reply #26: L-3 Communications (911 inside trader) bought Titan in 2005

[mirandapriestly]

DrDebug (1000+ posts) Mon Jul-03-06 05:47 PM
Response to Original message
74. L-3 Communications Holdings
Edited on Mon Jul-03-06 05:48 PM by DrDebug
L-3 Communications Holdings, Inc. is a leading merchant supplier of Intelligence, Surveillance and Reconnaissance (ISR) products, secure communications systems and products, avionics and ocean products, training products, microwave components and telemetry, instrumentation, space and wireless products. The company claims a workforce of more than 25,000 employees and over $4.0 billion in sales in 2002. Among its customers, L-3 Communications Holdings includes the Department of Defense, selected US government intelligence agencies, aerospace prime contractors and commercial telecommunications and wireless customers. (1)

In conjunction with Lehman Brothers and Lockheed Martin, Lanza and LaPenta formed L-3 Communications to be a supplier of choice for prime contractors. In establishing the company, several advanced electronics businesses were purchased that were part of the Lockheed Martin, Loral Corporation merger that occurred in 1996. Also purchased from Lockheed Martin was a division located in Camden, NJ that had been part of General Electric. In 2000 they purchased Training Devices and Training Services of the Raytheon Company. On June 3, 2005, they bought Titan Corporation (2) (3) for $1.97 billion. (1)

L-3 Communications was one of the pre-9/11 inside traders.

Frank C. Lanza is the CEO of L-3 Communications.
General Jay M. Garner from the previous Iraq war (4) is their president SY Technology

Oh yeah, Salomon Smith Barney (5) helped raised their stock price with one their price manipulation schemes.

Sources:
1. http://www.sourcewatch.org/index.php?title=L-3_Communic...
2. WSJ June 3, 2005
http://www.sourcewatch.org/index.php?title=Titan_Corpor...
3. See: Skyways and the 5.5 tons of cocaine
http://www.democraticunderground.com/discuss/duboard.ph...
4. http://www.sourcewatch.org/index.php?title=Jay_M._Garne...
5. http://www.securitiesfraudfyi.com/salomon_smith_barney....

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=125&topic_id=97281&mesg_id=97728

I came across L-3 again when that baseball player's plane crashed into a Manhattan building, I thought there was something funny there and I was looking into it for awhile. Not the baseball player, but the flight instructor. I traced him to some flight school and then L-3 and then I though, no, I'll never get anywhere with this...