1.   Lockheed Martin will likely save hundreds of millions of dollars through consolidating overlapping operations between it and Loral.

2.   American General should be able to easily integrate USLife into its existing businesses, allowing it to expand the number of customers while cutting overlapping operations and lowering expenses.

3.   An out-of-state buyer, with no overlapping operations, would probably close fewer operations there.

4.   Analysts said the only states where the two companies have overlapping operations are Maryland and Virginia.

5.   And one way to do that is merge and consolidate, which can lead to large staff reductions from overlapping operations.

6.   Because it and First Union have few overlapping operations, no office closings or layoffs are planned.

7.   But the greatest strides in shrinking the military industry will come not from a bigger-is-better approach but from combining overlapping operations of competitors.

8.   Calhoun said he believed orders would plunge as newly merged railroads, such as Burlington Northern Inc. and Santa Fe Pacific Corp., cut costs by reducing overlapping operations.

9.   Despite the lack of overlapping operations, investors appeared to view the merger as accelerating that growth.

10.   Dunn said the merger would result in very few layoffs because the two companies have very little in the way of overlapping operations.