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103-509: United Technologies Corporation ( UTC ) was an American multinational conglomerate headquartered in Farmington, Connecticut . It researched, developed, and manufactured products in numerous areas, including aircraft engines , aerospace systems, HVAC , elevators and escalators , fire and security , building automation, and industrial products, among others. UTC was also a large military contractor, getting about 10% of its revenue from

206-550: A Qatari officials to influence defense purchases. In February 2020, Raytheon completed the first radar antenna array for the US Army's new missile defense radar, known as the Lower Tier Air and Missile Defense Sensor (LTAMDS), to replace the service's Patriot air and missile defense system sensor. In April 2020, the company merged with United Technologies Corporation to form Raytheon Technologies . The merged company

309-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

412-477: A contract to build 3DELRR, a next-generation long-range radar system, for the USAF worth an estimated $ 1 billion. The contract award was immediately protested by Raytheon's competitors, Lockheed Martin and Northrop Grumman. After re-evaluating the bids following the protests, the USAF decided to delay awarding the 3DELRR EMD contract until 2017 and was to issue an amended solicitation at the end of July 2016. In 2017

515-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

618-473: A few month, Raytheon began to manufacture magnetron tubes for use in radar sets, and then complete radar systems . During the war, Raytheon also pioneered the production of shipboard radar systems, particularly for submarine detection. Raytheon was also a contractor for the mass-production of miniature shock-resistant vacuum tubes used in proximity fuses . These tubes were difficult to manufacture and required rigorous attention to detail. At war's end in 1945,

721-687: A follow-on, the RAYCOM, which was never completed. In 1954, it entered into a joint venture with Honeywell to form the Datamatic corporation. However it sold its interest to Honeywell a year later, before introduction of the DATAmatic 1000 system. In 1958, Raytheon acquired the marine electronics company Applied Electronics Company to make commercial marine navigation and radio gear, as well as less-expensive Japanese suppliers of products such as marine/weather band radios and direction-finding gear . In

824-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

927-413: A letter of intent with Raytheon for a $ 5.6 billion deal to upgrade its Patriot missile-defence shield. In 2017, Saudi Arabia signed business deals worth billions of dollars with multiple American companies, including Raytheon. In July 2019, Qatar 's Ministry of Defense committed to acquire Raytheon's NASAM and Patriot missile defense systems. The company would later be fined for paying bribes to

1030-487: A manufacturer of refrigerators and air conditioners . Using the Amana brand name and its distribution channels, Raytheon began selling the first countertop household microwave oven in 1967 and became a dominant manufacturer in the microwave oven business. In 1966, the company entered the educational publishing business with the acquisition of D.C. Heath and Company , marketing an influential physics textbook developed by

1133-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

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1236-467: A regulated, high voltage direct current for radios and thus eliminate the need for expensive, short-lived batteries. In 1925, the company changed its name to Raytheon Manufacturing Company and began marketing its rectifier, under the Raytheon brand name, with commercial success. In 1928 Raytheon merged with Q.R.S. Company, an American manufacturer of electron tubes and switches, to form the successor of

1339-518: A substantial increase in sales for the company outside the United States. In an effort to establish leadership in the defense electronics business, Raytheon purchased in quick succession Dallas-based E-Systems (1995); Chrysler Corporation 's defense electronics and aircraft-modification businesses, which had previously acquired companies such as Electrospace systems (1996) (portions of these businesses were later sold to L-3 Communications ), and

1442-511: Is a developer of missiles and related missile defense systems. These include: Two lawsuits were filed against a Raytheon Company plant in St. Petersburg, Florida , due to concern with health risks, property values, and contamination in April 2008. Raytheon was given until the end of the month to independently test whether or not the groundwater that originated from its area was contaminated. According to

1545-630: Is also heavily involved in the satellite sensor business. Much of its Space and Airborne Systems division in El Segundo , CA is devoted to this, a business it inherited from Hughes . Examples of programs include: As part of the company's growing homeland security business and strategic focus, Raytheon has teamed with other contractors to develop an Advance Spectroscopic Portal (ASP) to allow border officials to view and identify radioactive materials in vehicles and shipping containers more effectively. Raytheon also manufactures semiconductors for

1648-620: Is composed of five major business divisions: Raytheon's businesses are supported by several dedicated international operations including: Raytheon Australia; Raytheon Canada Limited; operations in Japan ; Raytheon Microelectronics in Spain ; Raytheon UK (formerly Raytheon Systems Limited); and ThalesRaytheonSystems , France . In recent years, Raytheon has expanded into other fields while redefining some of its core business activities. Raytheon has identified five key 'Strategic Business Areas' where it

1751-581: Is focusing its expertise and resources: In March 2014, Thomas Kennedy was named CEO of Raytheon Company. Kennedy succeeded William H. Swanson , who was CEO since 2003. Swanson remained as Chairman through September 2014 when Kennedy became chairman as well as CEO. Other current and former members of the board of directors of Raytheon were: Vernon Clark , James E. Cartwright , John Deutch , Stephen J. Hadley , George R. Oliver, Frederic Poses, Michael Ruettgers, Ronald Skates, William Spivey, and Linda Stuntz. As of December 2014, according to filed reports,

1854-636: Is headquartered in Arlington, Virginia rather than UTC's base in Farmington, Connecticut . In July 2023, Raytheon Technologies renamed themselves to RTX Corporation and merged the Raytheon Intelligence & Space and Raytheon Missiles & Defense business segments to form a new Raytheon business segment. In August 2024, RTX agreed to pay a $ 200 million fine for the unauthorized export of defense technology to China, Russia, Iran, and elsewhere, to settle more than 750 violations of

1957-548: Is moving manufacturing to Mexico: "The best way to stay competitive and protect the business for long-term is to move production from our facility in Indianapolis to Monterrey, Mexico. " In December, Carrier agreed to keep the Indianapolis plant open, keeping 700 jobs in Indianapolis. The plant in Huntington, Indiana would still close their doors, leaving 700 employees jobless. In June 2019, United Technologies announced

2060-573: Is no longer taking on new orders, having been on the premises for 57 years. In the framework of Ground-Based Midcourse Defense , Raytheon is developing a Ground Based Interceptor (GBI) that includes a booster missile and a kinetic Exoatmospheric Kill Vehicle (EKV), along with several key radar components, such as the Sea-Based X-Band Radar (SBX) and the Upgraded Early Warning Radar (UEWR). Raytheon

2163-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

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2266-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

2369-660: The Arms Export Control Act and the International Traffic in Arms Regulations , or ITAR. The company was allowed to pay only half the fine to the government and to put half of the fine toward “remedial compliance measures to strengthen RTX’s compliance program.” In October 2024, RTX agreed to pay nearly $ 1 billion to settle allegations of defrauding the U.S. Defense Department and bribing a Qatari military official. Company officials said

2472-643: The China Friendship Foundation for Peace and Development , a united front organization under the control of the Chinese People's Association for Friendship with Foreign Countries . Researchers at the University of Massachusetts Amherst have identified UTC. as the 38th-largest corporate producer of air pollution in the United States as of 2008. UTC released roughly 110,000 pounds (50,000 kg) of toxic chemicals annually into

2575-767: The Elmira-Corning Regional Airport in Big Flats, New York . In March 2008, UTC made a $ 2.63 billion bid to acquire Diebold , a Canton, Ohio based manufacturer of banking and voting machines. Diebold rejected the buyout bid as inadequate. In April 2010, UTC announced that it was investing €15 million ($ 20 million) to set up the United Technologies Research Centre Ireland at University College Cork ’s Tyndall National Institute which will carry out research on energy and security systems. In June 2012, it

2678-576: The Florida Department of Environmental Protection (DEP), the groundwater contained carcinogenic contaminants, including trichloroethylene , 1,4-dioxane , and vinyl chloride . The DEP also reported that the clouds contained other toxins, such as lead and toluene . In 1995, Raytheon acquired Dallas-based E-Systems, including a site in St. Petersburg, Florida, In November 1991, prior to Raytheon's acquisition, contamination had been discovered at

2781-844: The Hawker 800XP and Hawker 4000 , the Beechjet 400A , and the Premier I ; the popular King Air series of twin turboprops; and piston-engine aircraft such as the Bonanza . Its special-mission aircraft included the single-turboprop T-6A Texan II , which the United States Air Force and United States Navy had chosen as their primary training aircraft . In 1991, during the Persian Gulf War , Raytheon's Patriot missile received great international exposure, resulting in

2884-572: The Korean War . In later decades, it remained a major producer of missiles, such as the Patriot antimissile missile and the air-to-air Phoenix missile . Raytheon made a foray into computers, producing the RAYDAC computer for the U.S. Navy which became operational in 1953. "Unfortunately, the machine was technically obsolete by the time it was operational." Also in 1953, the company began work on

2987-698: The Physical Science Study Committee . Raytheon also manufactured the Apollo Guidance Computer , which was introduced that year and flew aboard all NASA Project Apollo missions. In the late 1970s, Raytheon acquired McGraw-Edison 's appliances division notable for the Speed Queen line of washers and dryers. In 1980, Raytheon acquired Beech Aircraft Corporation , a leading manufacturer of general aviation aircraft founded in 1932 by Walter H. Beech . In 1993,

3090-644: The Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over the VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization ,

3193-781: The history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include

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3296-607: The personal rapid transit (PRT) business as it terminated its PRT 2000 system due to the high cost of development and the lack of interest. During the September 11 attacks of 2001, Raytheon had an office in the South Tower of the World Trade Center on the 91st floor. Their office, being 6 floors above where United Airlines Flight 175 collided with the building, was spared from the immediate collision, but

3399-591: The 1970s and 1980s was higher-stakes and arguably unfocused. Rather than aviation being the central theme of UTC businesses, high tech (of any type) was the new theme. Some Wall Street watchers questioned the true value of M&A at almost any price, seemingly for its own sake. Mostek was sold in 1985 to the French electronics company Thomson . In 2007, UTC opened the Hawk Works, a Rapid Prototyping and Military Derivatives Completion Center (RPMDCC) located west of

3502-705: The Department of Electrical Engineering at the Massachusetts Institute of Technology (MIT), along with engineer and physicist Laurence K. Marshall, and scientist Charles G. Smith, founded the American Appliance Company in Cambridge, Massachusetts . Its focus, which was originally on new refrigeration technology, soon shifted to electronics . The company's first product was a gaseous ( helium ) voltage-regulator tube that

3605-515: The E-Systems site. Soil and groundwater had been contaminated with the volatile organic compounds trichloroethylene and 1,4-Dioxane. In 2005, groundwater monitoring indicated polluted groundwater was moving into areas outside the site. According to DEP documentation, Raytheon has tested wells on its site since 1996 but had not delivered a final report; therefore, it was given a deadline on May 31, 2008, to investigate its groundwater. Contamination in

3708-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

3811-663: The European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in the 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from

3914-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

4017-511: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

4120-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

4223-586: The Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for the world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902)

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4326-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

4429-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

4532-637: The U.S. government. In April 2020, UTC merged with the Raytheon Company to form Raytheon Technologies, later renamed RTX Corporation . In 1974, Harry Jack Gray left Litton Industries to become the CEO of United Aircraft. He pursued a strategy of growth and diversification, changing the parent corporation's name to United Technologies Corporation (UTC) in 1975 to reflect the intent to diversify into numerous high tech fields beyond aerospace. (The change became official on May 1, 1975.) The diversification

4635-570: The USAF again awarded the contract to Raytheon. In May 2015, Raytheon acquired cybersecurity firm Websense, Inc. from Vista Equity Partners for $ 1.9 billion and combined it with RCP, formerly part of its IIS segment to form Raytheon|Websense. In October 2015, Raytheon|Websense acquired Foreground Security for $ 62 million. In January 2016, Raytheon|Websense acquired the firewall provider Stonesoft from Intel Security for an undisclosed amount and renamed itself to Forcepoint. In July 2016, Poland's Defence Minister Antoni Macierewicz planned to sign

4738-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

4841-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

4944-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

5047-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

5150-477: The United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

5253-696: The United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for

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5356-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

5459-456: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

5562-671: The area has not affected anyone's drinking water supply or health, yet due to negative local media coverage lawsuits are being filed with claims against Raytheon citing decreases in property values. In another case, Raytheon was ordered by the Environmental Protection Agency (EPA) to treat groundwater at the Tucson Plant (acquired during the merger with Hughes) in Arizona since Raytheon used and disposed metals, chlorinated solvents , and other substances at

5665-684: The areas of sensing; effects; and command, control, communications and intelligence systems; as well as a broad range of mission support services. Raytheon's electronics and defense-systems units produce air-, sea-, and land-launched missiles , aircraft radar systems, weapons sights and targeting systems, communication and battle-management systems, and satellite components. Raytheon is a developer and manufacturer of radars (including AESAs ), electro-optical sensors, and other advanced electronics systems for airborne, naval and ground based military applications. Examples include: Raytheon, often in conjunction with Boeing , Lockheed Martin or Northrop Grumman,

5768-559: The atmosphere including manganese , nickel , chromium and related compounds. In the 2016 University of Massachusetts Amherst Toxic 100 Air Polluters Index, UTC was ranked 9th by a toxicity population exposure score. It was also reported they release 60,000 pounds (27,200 kg) of toxins into the air. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with

5871-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

5974-464: The board of directors (chairperson) position went to Louis Chênevert, then the company's CEO, in January 2010, succeeding George David. For the fiscal year 2017, United Technologies reported earnings of US$ 4.552 billion, with an annual revenue of US$ 59.837 billion, an increase of 4.5% over the previous fiscal cycle. United Technologies shares traded at over $ 114 per share, and its market capitalization

6077-457: The capability of radar to detect enemy aircraft. American companies were then sought by the US government to perfect and mass-produce the magnetron for ground-based, airborne, and shipborne radar systems, and, with support from the Massachusetts Institute of Technology 's Radiation Laboratory (recently formed to investigate microwave radar ), Raytheon received a contract to build the devices. Within

6180-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

6283-451: The commercial market, but the high-powered market was solidly in the hands of larger, better-financed competitors such as Continental Electronics , General Electric and Radio Corporation of America . In 1946, the company expanded its electronics capability through acquisitions that included the Submarine Signal Company (founded in 1901), a leading manufacturer of maritime safety equipment. With its broadened capabilities, Raytheon developed

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6386-604: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

6489-533: The company expanded its aircraft activities by adding the Hawker line of business jets by acquiring Corporate Jets Inc., the business jet product line of British Aerospace (now BAE Systems ). These two entities were merged in 1994 to become the Raytheon Aircraft Company. In the first quarter of 2007 Raytheon sold its aircraft operations, which subsequently operated as Hawker Beechcraft , and since 2014 have been units of Textron Aviation . The product line of Raytheon's aircraft subsidiary included business jets such as

6592-517: The company had built about 80 percent of all magnetrons. Raytheon ranked 71st among U.S. corporations in the value of World War II military production contracts. In 1945, Raytheon's Percy Spencer invented the microwave oven by discovering that the magnetron could rapidly heat food. In 1947, the company demonstrated the Radarange microwave oven for commercial use. During the post-war years, Raytheon also made generally low- to medium-powered radio and television transmitters and related equipment for

6695-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

6798-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

6901-461: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Raytheon The Raytheon Company was a major U.S. defense contractor and industrial corporation with manufacturing concentrations in weapons and military and commercial electronics . Founded in 1922, it merged in 2020 with United Technologies Corporation to form Raytheon Technologies, which changed its name to RTX Corporation in July 2023. Raytheon

7004-412: The defense portion of Delco Electronics (Delco Systems Operations), and Magnavox Electronic Systems . Raytheon also divested itself of several nondefense businesses in the 1990s, including Amana Refrigeration , Raytheon Commercial Laundry (purchased by Bain Capital 's Alliance Laundry Systems ), and Seismograph Service Ltd (sold to Schlumberger - Geco-Prakla ). On October 12, 1999, Raytheon exited

7107-422: The defense unit of Texas Instruments , Defense Systems & Electronics Group (1997). Also in 1997, Raytheon acquired the aerospace and defense business of Hughes Aircraft Company from Hughes Electronics Corporation , a subsidiary of General Motors , which included a number of product lines previously purchased by Hughes Electronics, including the former General Dynamics missile business (Pomona facility),

7210-505: The electronics industry in sites in the US and UK. In the late 20th century it produced a wide range of integrated circuits and other components, but as of 2003 its US semiconductor business specializes in gallium arsenide (GaAs) components for radio communications as well as infrared detectors . It is also making efforts to develop gallium nitride (GaN) components for next-generation radars and radios. The UK arm specialized in CMOS on silicon carbide (SiC) development and foundry work but

7313-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

7416-474: The first guidance system for a missile that could intercept a flying target. In 1948, Charles Francis Adams IV was appointed president of the company and served until 1960. In 1948, Raytheon began to manufacture guided missiles . In 1950, its Lark became the first such missile to destroy a target aircraft in flight. Raytheon then received military contracts to develop the air-to-air Sparrow and ground-to-air Hawk missiles, projects that received impetus from

7519-530: The funds were contributed to Republicans, 35% percent to Democrats; In 2005, the firm was among 53 entities that contributed the maximum of $ 250,000 to the second inauguration of President George W. Bush . In 1981, a contribution from UTC made possible the exhibition "Paris/Magnum: Photographs 1935–1981", featuring photographs of Paris taken by photographers of Magnum Photos , the agency founded in 1947 by Robert Capa , George Rodger , Henri Cartier-Bresson , William Vandivert , and David Seymour . A volume of

7622-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

7725-472: The intention to merge with defense contractor Raytheon to form Raytheon Technologies Corporation. The combined company, valued at more than $ 100 billion after planned spinoffs, would be the world's second-largest aerospace-and-defense company by sales behind Boeing. Although UTC was the nominal survivor, the merged company was headquartered at legacy Raytheon's former base in Waltham, Massachusetts . The merger

7828-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

7931-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

8034-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

8137-434: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

8240-480: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

8343-464: The misconduct mostly occurred before 2020 and pledged to improve its compliance programs. For the fiscal year 2017, Raytheon reported earnings of US$ 2.024 billion, with an annual revenue of US$ 25.348 billion, an increase of 5.1% over the previous fiscal cycle. Raytheon's shares traded at over $ 164 per share, and its market capitalization was valued at over US$ 51.7 billion in November 2018. Raytheon

8446-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

8549-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

8652-578: The same name, Raytheon Manufacturing Company. By the 1930s, it had already grown to become one of the world's largest vacuum tube manufacturing companies. In 1933 it diversified by acquiring Acme-Delta Company, a producer of transformers , power equipment, and electronic auto parts . Early in World War II , physicists in the United Kingdom invented the magnetron , a specialized microwave -generating electron tube that markedly improved

8755-587: The same title, with text by Irwin Shaw and an introduction by Inge Morath , was also published in 1981. UTC is the sponsor of the exhibition "Aphrodite and the Gods of Love" at Boston's Museum of Fine Arts that opened in fall 2011. The firm and its subsidiaries are major contributors to museums such as the New England Air Museum . In April 2015, UTC signed an education partnership agreement with

8858-565: The same year, it changed its name to Raytheon Company . In the 1950s, Raytheon began manufacturing transistors , including the CK722 , priced and marketed to hobbyists. In 1961, the British electronics company A.C. Cossor merged with Raytheon, following its sale by Philips . The new company's name was Raytheon Cossor. The Cossor side of the organisation was still in the Raytheon group in 2010. In 1965, it acquired Amana Refrigeration , Inc.,

8961-462: The seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and the international oil market. Iran was unable to sell any of its oil. In August 1953,

9064-459: The then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by the strong influence of

9167-408: The top ten institutional shareholders of Raytheon are Wellington Management Company , Vanguard Group , State Street Corporation , Barrow, Hanley, Mewhinney & Strauss, BlackRock Institutional Trust Company, BlackRock Advisors, Bank of America , Bank of New York Mellon , Deutsche Bank and Macquarie Group . Raytheon provides electronics, mission systems integration and other capabilities in

9270-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

9373-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

9476-451: Was a white knight move against hostile takeover designs by Gould . At one point, the military portion of UTC's business, whose sensitivity to "excess profits" and boom/bust demand drove UTC to diversify away from it, actually carried the weight of losses incurred by the commercial M&A side of the business. Although M&A activity was not new to United Aircraft, the M&;A activity of

9579-430: Was based on Charles Smith's earlier astronomical research of the star Zeta Puppis . The electron tube was christened with the name Raytheon (a compound of Old French and Greek meaning 'light from the gods') and was used in a battery eliminator , a type of radio-receiver power supply that plugged into the power grid in place of large batteries . This made it possible to convert household alternating current to

9682-474: Was completed in April 2020. In March 2020, United Technologies Corporation announced the separations of Carrier Global and Otis Worldwide . In April 2008, Louis Chênevert succeeded George David as the company's chief executive officer (CEO). Chênevert served until 2014, when he was succeeded by Gregory Hayes . The chief financial officer 's (CFO) position was held by Gregory Hayes until 2014, when he succeeded Louis Chênevert as CEO. The chairman of

9785-592: Was discovered that UTC sold military technology to the Chinese. For pleading guilty to violating the Arms Export Control Act and making false statements, United Technologies and its subsidiaries were fined $ 75 million. In February 2013, UTC Power was sold to ClearEdge Power . In October 2014, Toshiba and United Technologies made a deal to expand their joint venture outside Japan . In February 2016, UTC subsidiary Carrier Air Conditioner announced to employees at its Indianapolis and Huntington plants, that Carrier

9888-481: Was established in 1922, reincorporated in 1928, and adopted the Raytheon Company name in 1959. More than 90% of Raytheon's revenues were obtained from military contracts and, as of 2012, it was the fifth-largest military contractor in the world. As of 2015 , it was the third-largest defense contractor in the United States by defense revenue . It was the world's largest producer of guided missiles , and

9991-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

10094-443: Was involved in corporate and special-mission aircraft until early 2007. In 2018, the company had around 67,000 employees worldwide and annual revenues of about US$ 25.35 billion. Over the years, Raytheon shifted its headquarters among various Massachusetts locations: Cambridge from 1922 to 1928; Newton until 1941; Waltham until 1961; and finally, Lexington until 2003. In 1922, Vannevar Bush , scientist and professor in

10197-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

10300-501: Was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore,

10403-509: Was partially to balance civilian business against any overreliance on military business. UTC became a mergers and acquisitions (M&A)–focused organization, with various forced takeovers of unwilling smaller corporations. The next year (1976), UTC forcibly acquired Otis Elevator . In 1979, Carrier Refrigeration and Mostek were acquired; the Carrier deal was forcible, while the Mostek deal

10506-486: Was utterly destroyed in the subsequent collapse of the South Tower. In November 2007, Raytheon purchased Sarcos for an undisclosed sum, seeking to expand into robotics research and production. In September 2009, Raytheon purchased Bolt Beranek and Newman Inc. as a wholly owned subsidiary. In December 2010, Applied Signal Technology agreed to be acquired by Raytheon for $ 490 million. In October 2014, Raytheon beat rivals Lockheed Martin and Northrop Grumman for

10609-447: Was valued at US$ 98.6 billion in October 2018. UTC ranked No. 51 in the 2018 Fortune 500 list of the largest United States corporations by total revenue. During the 2004 election cycle , UTC was the sixth largest defense industry donor to political campaigns, contributing a total of $ 789,561; 64% went to Republicans. In the 2006 election cycle , UTC was again the sixth largest donor to federal candidates and political parties; 53% of

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