Spin-offs can be winners

The Mobile Press-Register on Sunday took a closer look at what might happen with a spin-off of Northrop Grumman's shipbuilding sector. Some think a shipbuilding operation turned loose from the parent could be a winner for investors. The company says it's leaning toward a spin-off, but is also meeting with large buyout firms. (Source: Mobile Press-Register, 10/17/10) Northrop Grumman owns shipyards in Pascagoula, Miss., Avondale, La., and Newport News, Va., and this past summer said it’s considering getting out of the shipbuilding business. At least one company, Cleveland Ship, has made its interest public. The company filed a Form 10 with the U.S. Securities and Exchange Commission as a first step. (Source: Northrop Grumman, 10/15/10)