Lindsay Goldberg is a private equity firm based in New York City. The firm focuses on leveraged buyouts and growth capital investments in middle-market companies in sectors like consumer products, commodity based manufacturing, energy services, business services, financial services, energy transmission and waste disposal.
Lockheed Martin acquired PAE in 2006, which provided services that supported military readiness, peacekeeping missions, personnel recruitment and training, and disaster relief services. The acquired unit then became a part of the Information & Technology Services segment of the company.
Post-acquisition, the company undertook numerous steps to improve its business, build a leadership team and sharpen operations. However, following a thorough assessment, on June 2, 2010, the company decided to divest this unit. The divestiture is grounded in the fact that the services demanded by PAE’s consumers fail to resonate with the long-term business strategy of the company.
Lockheed Martin is the largest U.S. defense contractor with a platform-centric focus that guarantees a steady inflow of orders with a leveraged presence in the Army, Air Force, Navy and IT. Also, the company’s focus on debt repayment, an ongoing share repurchase program and an increasing dividend will continue to shore up shareholder return.
However, we believe that budget deficits and political uncertainty make future defense budgets vulnerable to cutbacks. The company presently retains a short-term Zacks #3 Rank (Hold) that corresponds to our long-term Neutral recommendation on the stock. Read more at Zacks Investments
Jaco Dorfling, 42, a former auditor in the SA Air Force, worked as a logistics manager for a US company, Pacific Architects and Engineers (PAE), which was subcontracted to the UN.
Dorfling was to spend time with his parents and children in Pretoria over the Easter weekend.
Speaking from his Sinoville home on Tuesday night, Dorfling’s father, Kallie, who last spoke to his son on Friday, battled to fight back tears.
“We were looking forward to Jaco coming home. We last saw him in January, so by the time he was coming home now, his visit would have been long overdue,” Dorfling snr said.
“His sons were extremely excited about seeing their dad. Like us, they thought he was the best thing in the world.” .
Dorfling said his son made friends easily and this summed him up best.
“Wherever he went he would make friends.
“That is just how he was. He could be in the most horrible place on Earth and he would come out of there with the best friends in the world.
“He loved his job and lived for the adventures that it took him on. His job made him truly happy and he loved the fact that he was helping to make a difference in people’s lives.”
Randall Quickfall, from Heathfield, Cape Town, was among 32 people who died.
Quickfall was a project manager for the UN and travelled throughout Africa on peacekeeping missions.
He was 47. He worked for a US company, Pacific Architects and Engineers (PAE), which was subcontracted to the UN.
By AUGUST COLE at WSJ
MONROVIA, Liberia—Lockheed Martin Corp. became the nation’s No. 1 military contractor by selling cutting-edge weaponry like the F-35 Joint Strike Fighter.
Its latest contribution to the U.S. arsenal: training prosecutors in Liberia’s Justice Ministry.
The U.S. government has hired the defense contractor to test an emerging tenet of its security policy. Called “smart power,” it blends military might with nation-building activities, in hopes of boosting political stability and American influence in far-flung corners such as Liberia.
U.S. officials are concerned that nations imperiled by poverty and political strife could spark regional conflicts and foster terrorist networks. Defense Secretary Robert Gates says the problem posed by failing states “is in many ways the ideological and security challenge of our time.” Read the full story here