nader statement on lockheed-northrup merger

[Robert Weissman <rob@essential.org>]

  STATEMENT BY RALPH NADER IN OPPOSITION TO PROPOSED LOCKHEED-NORTHRUP
  MERGER
  
  For immediate release,			For more information:
  July 3, 1997					Ralph Nader, 202-387-8034
  
  Today's merger announcement by Lockheed Martin and Northrup Grumman --
  coming, not coincidentally, two days after the Federal Trade Commission's
  approval of the Boeing-McDonnell Douglas merger and one day after the
  Department of Justice's approval of the Raytheon-Texas Instruments
  marriage -- signals the collapse of the deterrent effect of antitrust law.
  
  Lockheed and Northrup compete in the same market of fighter jets and
  related technologies. Their merger would reduce competition, increasing
  prices to the Pentagon and creating futher conditions in which waste and
  fraud can flourish. 
  
  Unlike in the case of McDonnell Douglas, federal regulators will not be
  able to fall back on the excuse that either of these companies are not
  viable. Lockheed and Northrup are both profitable and strong. Lockheed CEO
  Norman Augustine says both companies are "healthy." Northrup CEO Kent
  Krusa says Northrup is now "in the strongest position in our history."
  
  If this merger is approved, what will be left of antitrust doctrine so
  that the antitrust enforcement staff should go to work every day?
  
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