Newport News shipyard crane (Joe Fudge, Daily Press file photo / December 14, 2007)Navy Cautious On Foreign Ownership Of Northrop's Shipyards -- Daily Press
NEWPORT NEWS —— Foreign ownership of Northrop Grumman Corp.'s nuclear shipbuilding business "would present significant challenges" for the U.S. Navy, a spokesman said Monday.
Northrop, whose Newport News shipyard is the sole manufacturer and refueler of the Navy's nuclear-powered aircraft carriers and one of two to build nuclear-powered Navy submarines, said last week it is seeking strategic alternatives for its shipbuilding enterprise, which includes selling or spinning off the unit.
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My Comment: With China owning a good chunk of America's debt .... I am sure many decisions done in Washington are now made with an eye on how China would react. The same can be said about companies that are owned by foreign nationals .... will companies be loyal to the needs of the U.S., or will the owners be influenced by the government that they are operating in. As a non-U.S. citizen this is not complicated, I will listen to the government that I live in (i.e. Canada) more than what the U.S. will tell me.
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