PLOWSHARES DICEY: Lockheed Corp., which grew up...

PLOWSHARES DICEY: Lockheed Corp., which grew up on stealth fighters and other military marvels, finds non-defense business growing. Managing airports, setting up satellite telescopes and the like accounted for 25% of Lockheed sales last year, up from 16% in 1988. . . . Some skeptics, however, think the much-touted strategy to convert defense firms to peaceable commerce has flaws, and Lockheed is about to run into them. See Valley Business, Page 10.

INSULT: The black security director of Palmdale High School says he will sue the school district because the student yearbook compared him to Buckwheat, the black child character in the Our Gang film comedies of the 1930s (B12). The yearbook adviser said the line was supposed to be edited out before printing, but “it ain’t no big deal,” and that students don’t consider “Buckwheat” a racist insult. . . . The only black member of the school board disagrees, calling it “very derogatory.”

DEAL HIM IN: Billionaire Ronald O. Perelman, who has investments in cosmetics (Revlon), camping equipment (Coleman), banking and comics (Marvel), bought 50% of TV syndicator Genesis Entertainment of Agoura Hills. That’s good news for Genesis, whose late-night “Whoopi Goldberg Show” has been canceled. Perelman already owns the TV production company New World Entertainment. See Valley Business, Page 3.

DIPLOMA DASH: Enrollment for the first session of summer school at Cal State Northridge has jumped 12% over last year to more than 5,400. . . . Student leaders say students foresee ever-higher fees and want to finish before the price increases (B3).

ATHLETE’S SENTENCE: A soccer player for a prestigious Valley private school got six months of unsupervised probation and 40 hours community service for kicking a rival player in the head, injuring him (B1). . . . Prosecutors, noting he has no criminal record and is headed for Yale, promised to erase the charge if he serves the penalty.