ALBANY, N.Y. (AP) ��Former Tyco executive Mark Swartz, convicted in 2005 for his role in a $134 million corporate fraud case, was released on parole Thursday after serving more than eight years in prison.
Swartz, once Tyco's chief financial officer, was convicted along with former CEO Dennis Kozlowski on 22 counts of grand larceny, conspiracy, falsifying records and violating business law after prosecutors claimed they gave themselves millions in illegal bonuses and forgiven loans.
Kozlowski still awaits a parole hearing.
Defense attorneys say the men collectively paid $134 million in restitution to Tyco and $105 million in fines to the state after their convictions. They were each sentenced to 8 1/3 to 25 years in prison.
Kozlowski and Swartz were accused of giving themselves as much as $150 million in illegal bonuses and forgiving millions of dollars in loans to themselves, while also manipulating the price of the security systems company's stock by lying about the state of its finances. The executives said at trial the payments had, in fact, been authorized.
Soditech Ingenierie SA is a France-based company that is primarily engaged in electronic and mechanical engineering services in various sectors. The Company�� activity is organized into three sectors: Defense & Research, Space and Energy & Nuclear. It provides specialized services in four fields: aerospace, covering communication satellites, observation satellites and space stations; automotive, providing such services as engine design and plasturgy for equipment manufacturers; aeronautics, offering structural research for aircraft makers, instruments or electro-mechanical systems for assisting pilots and others, and defense, providing engineering of numerous tests and trials systems, with or without implementations, among others. The Company also offers additional services, such as energy forecasting and environmental analysis, environmental management system, and others. In May 2014, it restructured company into three main divisions: Defense & Research, Space and Energy & Nuclear.
Advisors' Opinion: - [By ovenerio]
Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings by filed institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let麓s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Abner Herrman & Brock LLC, which provides portfolio management for high net worth individuals, endowments, and corporate retirement plans.Recently the fund reported its equity portfolio, as at the end of June. The total value of the portfolio amounted to $331.2 million, up from $311.3 million disclosed at the end of the previous quarter. Consequently, the fund's total return was 6.4% in the last quarter. The filing revealed that at the end of June, the fund added 4 new positions to its equity portfolio, and sold out of 3 other companies. The top ten portfolio holdings as of the end of the quarter represented 30.85%. The largest changes from previous 13-F麓s fillings are in the energy sector (3.5%) followed by the reduction of financials and industrials.In this article, we have selected three companies, in which the fund holds the largest stakes, in terms of market value.The first on the list is Merck & Co. (MRK), in which the fund disclosed a $15.2 million stake with over 263,570 shares. The company is a leading global drugmaker, producing a wide range of prescription drugs in many therapeutic classes in the U.S. and abroad. It has improved earnings per share by 9.6% in the most recent quarter compared to the same quarter a year ago. With respect to price performance, this stock has enjoyed a rise of 26.85% which was in line with the performance of the market. It has a proven commitment to returning cash to investors, with a current dividend yield of 3.0% which is considered good to protect investor麓s purchasing power. Other hedge
- [By muhammadbazil]
In the past, hedge funds provided investors with a way to invest large amounts of money without much government regulation. In the past few years, government scrutiny into hedge funds has increased enormously. As a result, some of America�� largest hedge funds have opted to shrink away from the powers that be by becoming ��amily offices.��But, even in the face of increased federal oversight, there are some entities that are doing just the opposite. Indeed, some family offices are bucking the trend by becoming hedge funds that can seek out new clientele and invest with a wide range of investor capital.The more common move to shift from hedge fund to closed family office was popularized by large hedge funds and hedge fund managers like George Soros (Trades, Portfolio), Carl Icahn (Trades, Portfolio), and Steve Cohen�� SAC Capital Advisors (now Point72 Asset Management). Some estimates suggest that there are over 1,000 different family offices throughout the nation. The Dodd-Frank Act went into full effect in 2010, causing many hedge fund managers to rethink their positions.Going Against the TrendSeveral family offices are going against the trend by becoming hedge funds fully open to new investors. Although popular discourse has suggested that this is a negative move, many family-office-to-hedge-fund conversions are based on sound business planning.The legitimacy of switching from a hedge fund to a family office is generally only applicable in situations where the hedge fund manager controls extensive capital. For instance, George Soros (Trades, Portfolio) was able to start his family office with a hefty $24 billion to invest. Of course, as a family office, the Soros Fund Management LLC cannot solicit outside investors or manage any money that does not belong to the Soros family.For family offices that do not have $24 billion in capital to work with, remaining in business as a family office limits their investment options. Thus, the small undercurrent of fa
Best Defense Companies To Invest In 2015: Bulova Technologies Group Inc (BTGI)
Bulova Technologies Group, Inc. (BLVT), incorporated in 1979, operates as a Government contractor in the United States. BLVT�� operating facilities are located in Mayo, Florida. As of September 30, 2011, the Company is focused on Department of Defense contracting. As of September 30, 2011, BLVT operated corporate and administrative offices in two leased facilities, one in Clearwater, Florida, approximating 2,400 square feet, and the other in Brandon, Florida, approximating 5,000 square feet. The Company�� Government contracting business is located on 261 acres owned by the Company in Mayo, Florida, where it operates a load, assembly, and pack facility specializing in fuzes, safe and arming devices and explosive simulators. There are more than 38 buildings on the property consisting of warehouses, storage, and manufacturing facilities. In March 31, 2011, the Company disposed of its subsidiary BT Manufacturing Company LLC. In October 2012, the Company sold Bulova Technologies Ordnance Systems LLC.
Bulova Technologies Ordnance Systems LLC is a load, assembly, and pack facility specializing in fuzes, safe and arming devices and explosive simulators. Bulova Technologies Ordnance Systems LLC produces a range of pyrotechnic devices, ammunition and other energetic materials for the United States Government and other allied Governments worldwide. Bulova Technologies (Europe) LLC is developing a mortar exchange program to facilitate the needs of NATO member countries.
Advisors' Opinion: - [By Peter Graham]
A quick look at Hybrid Coating Technologies��financials reveals revenues of $48k (most recent reported quarter), $5k, $3k and $53k for the past four reported quarters along with net losses of $821k (most recent reported quarter), $1,571k, $774k and $510. At the end of September, Hybrid Coating Technologies had no cash to cover $4,037k in current liabilities and $1,279k in long term debt. So while the global industrial and specialty coatings market might be worth $35 billion, Hybrid Coating Technologies has yet to grab enough of it.
Bulova Technologies Group, Inc (OTCMKTS: BTGI) Recently Did a Reverse Split Small cap Bulova Technologies Group has an extensive history of large scale Defense Contracts for munitions, weapons systems and combat systems. On Friday, Bulova Technologies Group fell 13.04% to $0.0300 for a market cap of $663,789 plus BTGI is up 29,900% over the past year and down 66.7% over the past five years according to Google Finance.
Best Defense Companies To Invest In 2015: Northrop Grumman Corp (NOC)
Northrop Grumman Corporation (Northrop Grumman), incorporated on January 16, 2001, provides products, services, and integrated solutions in aerospace, electronics, information and services to its global customers. As of December 31, 2011, the Company operated in four segments: Aerospace Systems, Electronic Systems, Information Systems and Technical Services. The Company conducts most of its business with the United States Government, principally the Department of Defense (DoD) and intelligence community. It also conducts business with local, state, and foreign Governments and domestic and international commercial customers. Effective as of March 31, 2011, the company completed the spin-off of Huntington Ingalls Industries, Inc. (HII). HII operates the Company�� former shipbuilding business. In September 2012, it acquired M5 Network Security Pty Ltd.
Aerospace Systems
Aerospace Systems is engaged in the design, development, integration and production of manned and unmanned aircraft, spacecraft, high-energy laser systems, microelectronics and other systems and subsystems. Aerospace Systems��customers, primarily domestic government agencies, use these systems in a number of different mission areas, including intelligence, surveillance and reconnaissance; communications; battle management; strike operations; electronic warfare; missile defense; earth observation; space science; and space exploration. The segment consists of four business areas: Strike & Surveillance Systems; Space Systems; Battle Management & Engagement Systems; and Advanced Programs & Technology. Strike & Surveillance Systems designs, develops, manufactures and integrates tactical and long-range strike aircraft systems, unmanned systems, and missile systems. Key programs include the RQ-4 Global Hawk unmanned reconnaissance system, B-2 stealth bomber, F-35 Lightning II (F-35), F/A-18 Super Hornet strike fighter, Minuteman III Intercontinental Ballistic Missile (ICBM), MQ-8B Fire Scout unmanned aircraft syste! m, and Multi-Platform Radar Technology Insertion Program (MP-RTIP).
Space Systems designs, develops, manufactures, and integrates spacecraft systems, subsystems and electronic and communications payloads. Its main programs include the James Webb Space Telescope (JWST), Advanced Extremely High Frequency (AEHF) payload and many restricted programs. The Battle Management & Engagement Systems designs, develops, manufactures, and integrates airborne early warning, surveillance, battlefield management, and electronic warfare systems. Key programs include the E-2 Hawkeye, Joint Surveillance Target Attack Radar System (Joint STARS), Broad Area Maritime Surveillance (BAMS) unmanned aircraft system, EA-6B Prowler and its next generation platform, the EA-18G Growler, and Long Endurance Multi Intelligence Vehicle (LEMV). Advanced Programs & Technology creates advanced technologies and concepts. Its programs include the Navy Unmanned Combat Air System (N-UCAS), and other directed energy and advanced concepts programs.
Electronic Systems
Electronic Systems is engaged in the design, development, manufacture, and support of solutions for sensing, understanding, anticipating, and controlling the environment for its global military, civil, and commercial customers and their operations. Electronic Systems provides a variety of defense electronics and systems, airborne fire control radars, situational awareness systems, early warning systems, airspace management systems, navigation systems, communications systems, marine systems, space systems, and logistics services. The segment consists of five business areas: Intelligence, Surveillance, & Reconnaissance Systems; Land & Self Protection Systems; Naval & Marine Systems; Navigation Systems; and Targeting Systems. Intelligence, Surveillance & Reconnaissance (ISR) Systems delivers products and services for space satellite applications, airborne and ground-based surveillance, multi-sensor processing, analysis, and dissemination for com! bat units! and national agencies both domestically and internationally, providing battlespace awareness, missile defense, and command and control. Key products include the Space-Based Infrared System (SBIRS), Defense Meteorological Satellite Program (DMSP), Defense Support Program (DSP), ground processing, exploitation and dissemination systems, the TPS-78/703 family of ground based surveillance radars, and the Multi-role Electronically Scanned Array (MESA) radar.
Land & Self Protection Systems delivers products, systems, and services that support ground-based, helicopter and fixed wing platforms (manned and unmanned) with sensor and protection systems. These systems perform threat detection and countermeasures that defeat infrared and radio frequency (RF) guided missile and tracking systems. The division also provides integrated electronic warfare capability, communications, and intelligence systems; unattended ground sensors; automatic test equipment; and advanced threat simulators. Key programs include the U.S. Marine Corps Ground/Air Task Oriented Radar (G/ATOR) multi-mission radar; the Large Aircraft Infrared Countermeasures (LAIRCM) system for the U.S. Air Force, U.S. Navy, and strategic international and NATO allies; the AN/ALQ-131(V) electronic countermeasures pod; the LR-100 high-performance radar warning receiver (RWR)/electronic support measures (ESM)/electronic intelligence (ELINT) receiver system; the U.S. Army�� STARLite Synthetic Aperture Radar for Unmanned Aerial Vehicles (UAVs); the U.S. Army Vehicle Intercom Systems (VIC-3 and VIC-5); the U.S. Army Next Generation Automated Test System (NGATS); the U.S. Air Force Joint Threat Emitter (JTE) training range system; and the Vehicle and Dismount Exploitation Radar (VADER) system that enable airborne platforms to track individual persons or vehicles.
Naval & Marine Systems delivers products and services to defense, civil, and commercial customers supporting smart navigation, shipboard radar surveillance, ship control, mac! hinery co! ntrol, integrated combat management systems for naval surface ships, high-resolution undersea sensors (for mine hunting, situational awareness, and other applications), unmanned marine vehicles, shipboard missile and encapsulated payload launch systems, propulsion and power generation systems, and nuclear reactor instrumentation and control. Key products include Integrated Bridge and Navigation Systems, Voyage Management System, Integrated Platform Management Systems, Integrated Combat Management System, AN/WSN-7 Inertial Navigator, anti-ship missile defense and surveillance radars (Cobra Judy, AN/SPQ-9B, AN/SPS-74), propulsion equipment, missile launch, and sonar systems for the Virginia-class submarine, and launch system support for the Ohio-class submarine.
Navigation Systems delivers products and services to defense, civil, and commercial customers supporting situational awareness, inertial navigation in all domains (air, land, sea, and space), embedded Global Positioning Systems, Identification Friend or Foe (IFF) systems, acoustic sensors, cockpit video monitors, mission computing, and integrated avionics and electronics systems. Key products include the Integrated Avionics System, the AN/TYQ-23 Aircraft Command and Control System, Fiber Optic Acoustic Sensors, and a robust portfolio of inertial sensors and navigation systems. Targeting Systems delivers products and services supporting airborne combat avionics (fire control radars, multi-function apertures and pods), airborne electro-optical/infrared targeting systems, and laser/electro-optical systems including hand-held, tripod-mounted, and ground or air vehicle mounted systems. Key products include fire control radars for the B-1B, F-16 (worldwide), F-22 U.S. Air Force, and F-35; AN/APN-241 navigation/weather radar; the AN/AAQ-28(V) LITENING family of targeting pods; Distributed Aperture EO/IR systems; and the Lightweight Laser Designator Rangefinder (LLDR). In addition, the Electronic Systems segment also includes the Advanced Co! ncepts & ! Technologies Division (AC&TD), which develops next-generation systems and architectures.
Information Systems
Information Systems is a provider of advanced solutions for the DoD, national intelligence, federal civilian, state and local agencies, and commercial and international customers. Products and services focus on the fields of command, control, communications, computers (C4) and intelligence; airborne reconnaissance; intelligence processing; air and missile defense; decision support systems; cybersecurity; information technology; and systems engineering and integration. The segment consists of three business areas: Defense Systems; Intelligence Systems, and Civil Systems. Defense Systems is a provider of net-enabled Battle Management, C4 Intelligence, Surveillance, and Reconnaissance (C4ISR) systems, decision superiority, and mission-enabling solutions and services in support of the national defense and security of our nation and its allies. Defense Systems is a developer and integrator of many of the DoD�� programs-of-record, particularly for command and control (C2) and communications for the U.S. Air Force, U.S. Army, U.S. Navy, and Joint Forces. Major products and services include C4ISR Integration, Mission Systems Integration, Military Communications and Networks, Battle Management C2 and Decision Support Systems, Tactical and Operational C2, Ground and Maritime Combat Systems, Air and Missile Defense, Combat Support Solutions and Services, Enterprise Infrastructure and Applications, Defense Logistics Systems, Identity Management and Biometric Solutions, Cloud Computing, Maritime Mission Systems and Force and Critical Infrastructure Protection. Systems are installed in operational and command centers worldwide and across all DoD services and joint commands.
Intelligence Systems is focused on the delivery of intelligence-related systems and services to the United States Government and the international security community. Intelligence Systems focuses ! on missio! n areas, including Airborne Intelligence, Signals Intelligence (SIGINT) Systems, Cybersecurity, Geospatial Intelligence, Pervasive Intelligence, Surveillance and Reconnaissance (ISR), Ground Systems, Multi-Source Intelligence Data Fusion, and Dynamic Cyber Defense. Its offerings include intelligence sensing, processing, exploitation and dissemination systems, extremely Large-Scale Data Information Management, Intelligence and Prime Systems Integration, Knowledge Discovery Processes, ISR/Communications Quick Reaction Capability Solutions, Sensor Systems, Support to Special Operations, Cyber-SIGINT Mission Management/Multi-Intelligence, Language Services/Intelligence Analysis, Cyber Exploitation, Satellite Ground Stations, Weather Services, Geospatial Systems, Product Generation and Dissemination, Counter Narco-Terrorism, Drug Enforcement Operations, Geo-Intelligence Tradecraft Training, Enterprise Information Technology, Ground-Based Sensing, Studies and Analysis, Sustainment, Operations and Maintenance. Civil Systems provides specialized information systems and services in support of critical civilian government missions, such as homeland security, health, cybersecurity, civil financial, law enforcement and public safety. Primary customers are federal civilian agencies with some state and local and international customers. Civil Systems develops and implements solutions that combine a deep understanding of civil government domains with core expertise in prime systems integration, enterprise applications development, and high value information technology service, including cybersecurity, advanced networking and cloud computing.
Technical Services
Technical Services is a provider of logistics, infrastructure, and sustainment support, while also providing an array of modernization, high technology, and training and simulation services. The segment consists of three business areas: Defense and Government Services; Training Solutions; and Integrated Logistics and Modernization. De! fense and! Government Services provides maintenance, repair, and overhaul (MRO) of combat vehicles, engineering and high technology services for nuclear security and space missions, civil engineering work, military range work, launch services, and range-sensor-instrumentation operations. The division�� customer base includes the United States Army, Department of Energy, the DoD, NASA, and the intelligence community. Training Solutions provides training to senior military leaders, international and peacekeeping forces. The division designs and develops future conflict training scenarios, and provides warfighters and allies with live, virtual, and constructive training programs. The division offers training applications ranging from battle command to professional military education. Primary customers include the DoD, Department of State, and Department of Homeland Security. Integrated Logistics and Modernization provides life cycle product and weapon system sustainment and modernization. The division is focused on providing direct support to warfighters and delivering aircraft MRO; subsystem MRO and modernization; supply chain management services, warehousing and inventory transportation, field services and mobilization, sustaining engineering, maintenance, repair and overhaul supplies, and on-going weapons maintenance and technical assistance. The division specializes in quick reaction capability and deployed operations in support of customers. Primary customers include the DoD, as well as international military and commercial customers.
The Company competes with Lockheed Martin Corporation, The Boeing Company, Raytheon Company, General Dynamics Corporation, L-3 Communications Corporation, SAIC, BAE Systems Inc., EADS and Finmeccanica SpA.
Advisors' Opinion: - [By Rich Smith]
The U.S. Department of Defense wrapped up the workweek Friday with the announcement of nine new contracts, worth more than $791 million in total. A series of tech firms took the big prize, a near-half-billion-dollar contract to revamp the U.S. Army's enterprise business systems. But there were smaller winners as well. Among them:
- [By Dan Caplinger]
But United Tech isn't just involved in commercial aircraft. Earlier this month, its engines played a key role in the launch of Northrop Grumman's (NYSE: NOC ) X-47B unmanned aircraft. Although defense-related business has suffered from budget cuts and the constraints of sequestration, it remains an important part of United Tech's overall strategy. A successful test flight recently for United Tech's Sikorsky MH-60R helicopters in connection with a sale to the Australian Defense Ministry also shows the company's international appeal.
- [By Ben Levisohn]
Shares of Rockwell Collins have gained 0.8% to $73.89 today, while Lockheed Martin (LMT) has gained 0.7% to $123.90, and Northrop Grumman (NOC) has ticked up 0.2% to $95.10. The SPDR S&P 500 ETF (SPY) has gained 0.3% to $169.62.
Best Defense Companies To Invest In 2015: United Technologies Corporation(UTX)
United Technologies Corporation provides technology products and services to the building systems and aerospace industries worldwide. The company?s Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways, as well as provides maintenance and repair services. Its Carrier segment offers heating, ventilating, air conditioning, and refrigeration systems, controls, services, and energy-efficient products for residential, commercial, industrial, and transportation applications. The company?s UTC Fire and Security segment provides electronic security products comprising intruder alarms, and access control and video surveillance systems; fire safety products, such as specialty hazard detection and fixed suppression products, fire extinguishers, fire detection and life safety systems, and other firefighting equipment; systems integration, video surveillance, installation, maintenance, and inspection services; and mon itoring, response, and security personnel services. Its Pratt and Whitney segment supplies aircraft engines for the commercial, military, business jet, and general aviation markets; industrial gas turbines; geo thermal power systems; and space propulsion systems, as well as provides fleet management, maintenance, repair, and overhaul services. The company?s Hamilton Sundstrand segment supplies aerospace products, such as power generation, management and distribution, flight control, engine control, environmental control, auxiliary power units, and propeller systems; and industrial products, including air compressors, metering pumps, and fluid handling equipment under the Sullair, Sundyne, and Milton Roy names. Its Sikorsky segment manufactures military and commercial helicopters, as well as offers aftermarket helicopter and aircraft parts and services. United Technologies Corporation was founded in 1934 and is based in Hartford, Connecticut.
Advisors' Opinion: - [By WALLSTCHEATSHEET]
United Technologies provides essential and highly demanded technology products and services to companies large and small across the globe. It is being reported that the company may cut a number of jobs due to the government shutdown. The stock has been flying higher in recent quarters and is now trading near all time high prices. Over the last four quarters, earnings and revenues have been rising, however, investors have had mixed feelings about recent earnings announcements. Relative to its peers and sector, United Technologies has been a year-to-date performance leader. Look for United Technologies to OUTPERFORM.
- [By Dan Caplinger]
United Technologies (NYSE: UTX ) has gone through the biggest transformation recently. Its massive $16.5 billion acquisition of Goodrich represented a big commitment from United Tech to look to the aerospace sector as its primary means of making profits. Since the takeover, United Tech has sold off non-core assets to satisfy regulators, raise cash to help pay down the debt it incurred in the buyout, and refocused its efforts toward a single industry. Yet it has still retained its Otis elevator business along with other industrially focused units, such as its Carrier HVAC division, that give the company some diversification.
