Hondas to Include XM Receivers
XM Satellite Radio receivers will be installed in more than 550,000 Honda vehicles for the 2006 model year, including the Civic, Accord, Accord Hybrid, Pilot, Odyssey, Element and Ridgeline, District-based XM announced. Honda buyers will have to pay a monthly $12.95 subscription fee in order to access XM's 150 channels of music, talk, news and sports.
XM, which has more than 5 million subscribers, gets about half of its subscribers through the auto market and half through sales at retailers such as Best Buy.
Legg Mason Hires Equity Unit Chief
Legg Mason hired Brian Posner to run a new U.S. equity unit carved from the Citigroup asset-management group it is acquiring in a $3.7 billion deal. Posner, known for managing funds for Fidelity Investments and Warburg Pincus Asset Management, said in an interview that he will join Legg Mason of Baltimore on Nov. 1. His unit, based in New York, will oversee about $120 billion in actively managed mutual fund assets, he said.
Treasury Hires SI International
Reston IT provider SI International said it signed a $50 million contract to supply information technology project management and development support services to the Treasury Department. The company will work with the Office of the Comptroller of the Currency. SI International said the contract has a total ceiling value of $50 million over a one-year base period and four one-year option periods.
Lockheed, Raytheon Settle Dispute
Lockheed Martin reached an out-of-court settlement with Raytheon over the pursuit of work on an Air Force program. The settlement will protect Raytheon's proprietary data from a prior teaming arrangement with Lockheed dating from 2003 for work on the Air Force's Distributed Common Ground System, Raytheon spokesman Keith Little said. The agreement frees Bethesda-based Lockheed to compete on its own or with other partners for future work related to the program.
Lockheed was a subcontractor to Raytheon under the original $360 million program to provide a system capable of taking raw data from surveillance aircraft including the U-2 and Global Hawk and then providing that information to military and intelligence agencies.
Compiled from staff and news service reports.