Andrea's Feed
Oct 20, 2013

Insight: Budget cuts, barriers slow U.S. military space shakeup

WASHINGTON (Reuters) – The U.S. Air Force has talked for years about attracting more companies to the military satellite business to stir competition and cut costs. But progress has been halting at best.

Now, just as the U.S. military is finally revamping its approach, cuts in defense spending threaten to undermine even the modest progress that is being made.

Oct 20, 2013

Budget cuts, barriers slow U.S. military space shakeup

WASHINGTON, Oct 20 (Reuters) – The U.S. Air Force has talked
for years about attracting more companies to the military
satellite business to stir competition and cut costs. But
progress has been halting at best.

Now, just as the U.S. military is finally revamping its
approach, cuts in defense spending threaten to undermine even
the modest progress that is being made.

Oct 16, 2013

Lockheed to lay off 600 workers in mission systems, training

WASHINGTON (Reuters) – Lockheed Martin Corp, the largest U.S. defense contractor, on Wednesday became the latest weapons maker in recent months to announce layoffs, saying it would let go of 600 workers in its Mission Systems and Training Division later this month.

Lockheed spokesman Keith Little said the layoffs were not linked to the partial U.S. government shutdown, but reflected the increasingly challenging business environment.

Oct 16, 2013

Pentagon to review progress of F-35 fighter program next week

WASHINGTON, Oct 16 (Reuters) – Top Pentagon officials will
examine the cost of building and operating the Lockheed Martin
Corp F-35 fighter jet at a major review of the $392
billion program next week that will also provide updates on
lingering technical issues.

Kyra Hawn, spokeswoman for the Pentagon’s F-35 program
office, said a high-level Defense Acquisition Board meeting was
expected to proceed on Monday despite the partial government
shutdown. The meeting has already been postponed several times.

Oct 16, 2013

Pentagon F-35 review next week to examine operating costs

WASHINGTON (Reuters) – Top Pentagon officials will examine the cost of building and operating the Lockheed Martin Corp F-35 fighter jet at a major review of the $392 billion program next week that will also provide updates on lingering technical issues.

Kyra Hawn, spokeswoman for the Pentagon’s F-35 program office, said a high-level Defense Acquisition Board meeting was expected to proceed on Monday despite the partial government shutdown. The meeting has already been postponed several times.

Oct 10, 2013

Minor cracks found in part of F-35 B-model fighter plane

WASHINGTON, Oct 10 (Reuters) – Two minor cracks have been
found in a bulkhead of a Lockheed Martin Corp F-35
B-model fighter jet, but they are not expected to halt flights
of the planes, Lockheed and the Pentagon said on Thursday.

The cracks were discovered during durability testing in late
August and occurred after about 9,400 hours, which equates to
more than 17 years of operational flying, according to the
company and the Defense Department’s F-35 program office.

Oct 10, 2013

Pentagon No. 2 to step down after four years in top defense jobs

WASHINGTON, Oct 10 (Reuters) – Deputy Defense Secretary
Ashton Carter, known for his deep knowledge of U.S. defense
spending and the defense industry, said on Thursday he was
stepping down in December after four years in top Pentagon jobs.

Defense Secretary Chuck Hagel said he “reluctantly accepted”
Carter’s decision to leave the post.

Oct 10, 2013

Pentagon to focus on Rockwell-Elbit helmet for F-35 jet

WASHINGTON, Oct 10 (Reuters) – The Pentagon said on Thursday
it would halt work on a second pilot helmet being developed for
the F-35 fighter jet by Britain’s BAE Systems Plc, and
focus exclusively on the main helmet built by Rockwell Collins
Inc and Israel’s Elbit Systems Ltd.

The Pentagon’s F-35 program office said the move followed
improvements to the Rockwell-Elbit helmet, including a better
night vision camera, and would save about $45 million in funding
that would have been needed to finish the BAE helmet.

Oct 9, 2013

Lockheed, U.S. Air Force near $2.2 billion satellites deal

WASHINGTON (Reuters) – The U.S. Air Force expects to finalize a $2.2 billion contract with Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) for two more advanced military communications satellites in coming weeks, a top Air Force general told Reuters on Wednesday.

The Air Force awarded Lockheed a preliminary contract worth $1.9 billion in December for the fifth and sixth Advanced Extremely High Frequency (AEHF) satellites, which allowed the company to begin work on the new spacecraft.

Oct 9, 2013

U.S. contractor CACI to buy intelligence firm Six3 Systems

By Mridhula Raghavan and Andrea Shalal-Esa

(Reuters) – CACI International (CACI.N: Quote, Profile, Research, Stock Buzz) on Wednesday said it would buy Six3 Systems Inc from private equity firm GTCR for about $820 million to strengthen its intelligence support services to the U.S. government, the company’s largest ever acquisition.

CACI said it has secured a financing commitment for $800 million and expects the deal to add to its adjusted earnings per share by at least 10 percent in 2014, at a time when declining U.S. defense spending is expected to weigh on revenues for many companies in the sector.