Northrop Grumman To Move Headquarters From Los Angeles To DC Area.

Northrop Grumman To Move Headquarters From Los Angeles To DC Area.

The Washington Post (1/5, A1, Hedgpeth, Heath) reports, "Giant defense contractor Northrop Grumman said Monday that it plans to move its corporate headquarters from Los Angeles to the Washington area by 2011." The Post adds, "Defense industry experts say Northrop's move is a sign that contractors are fearing shrinking budgets from the Pentagon and sense a need to be closer to their biggest customer, as competition for fewer deals becomes more fierce." The Los Angeles Times (1/5, Hennigan, Hsu) notes that "Northrop Grumman took the action as new Chief Executive Wesley G. Bush took the reins from Ronald D. Sugar, the company's longtime chairman and chief executive."