NYT's Leslie Wayne reports that the Navy's biggest contractor will get special help recovering from Hurricane Katrina.
PASCAGOULA, Miss. - The destruction is everywhere at the Northrop Grumman shipyards here…
But as the cleanup begins, Northrop will have a much easier time than most other Hurricane Katrina victims, at least financially. Unlike many small businesses and families that may never fully recover from the storm, Northrop - through a combination of insurance and, most important, support from the Pentagon - is likely to end up having to pay little, if anything at all, from its own coffers to repair the damage.
The Navy is asking for $2 billion in Federal Emergency Management Agency funds, saying in a memo that it wants to restore Northrop's three Gulf Coast yards, where most of the Navy's surface ships are built, to their pre-Katrina "capacity and profit opportunities."
Donald C. Winter, recently confirmed by the Senate to become the next Secretary of the Navy, is a senior executive with Northrup Grumman.
How about that?