Andrea's Feed
Dec 4, 2013

Video wades into Lockheed-Boeing battle over Canadian jet orders

WASHINGTON (Reuters) – A new video is circulating on the Internet that pokes fun at Lockheed Martin Corp’s (LMT.N: Quote, Profile, Research, Stock Buzz) F-35 fighter jet while lauding the F/A-18 built by rival Boeing Co (BA.N: Quote, Profile, Research, Stock Buzz), the latest salvo in an increasingly pitched battle over Canadian fighter orders.

In the video, two little boys compare what they were able to buy with the $10 they each got from their grandfather. One shows off his stealthy new F-35 fighter, while the other proudly reports that he was able to buy three F/A-18 plus 10 years’ worth of logistics support for the same amount.

Dec 3, 2013

U.S. arms makers see chance of interim U.S. budget deal

WASHINGTON, Dec 3 (Reuters) – Executives at U.S. weapons
makers on Tuesday said they were cautiously optimistic that U.S.
lawmakers would reach agreement on an interim federal budget to
smooth out across-the-board cuts in military funding in fiscal
2014 and 2015.

Chief Executive William Swanson of Raytheon Corp and
Chief Financial Officer Bruce Tanner of Lockheed Martin Corp
said on Tuesday they did not expect Congress to reach a
comprehensive agreement on reducing the federal deficit, which
would help the Pentagon avert the threat of $500 billion in
military spending cuts over the next decade.

Dec 3, 2013

Raytheon CEO sees $4 billion-$5 billion in Mideast orders in ‘weeks’

WASHINGTON (Reuters) – Raytheon Co (RTN.N: Quote, Profile, Research, Stock Buzz) is hoping to finalize orders valued at $4 billion to $5 billion from countries in the Middle East in a matter of weeks, Chief Executive William Swanson told an investor conference on Tuesday.

Swanson said he just returned from a visit to the region, including stops in Qatar, Oman, Kuwait and Saudi Arabia, where he met with senior leaders about an array of missile defense deals and other orders.

Dec 3, 2013

Raytheon CEO sees $4 bln-$5 bln in Mideast orders in ‘weeks’

WASHINGTON, Dec 3 (Reuters) – Raytheon Co is hoping
to finalize orders valued at $4 billion to $5 billion from
countries in the Middle East in a matter of weeks, Chief
Executive William Swanson told an investor conference on
Tuesday.

Swanson said he just returned from a visit to the region,
including stops in Qatar, Oman, Kuwait and Saudi Arabia, where
he met with senior leaders about an array of missile defense
deals and other orders.

Dec 3, 2013

Companies, academics say budget cuts threaten U.S. competitiveness

WASHINGTON (Reuters) – Mandatory U.S. budget cuts known as sequestration are resulting in job losses across the country and threaten to undermine U.S. competitiveness in the global economy, industry executives and academics said on Monday, urging Congress to reverse the cuts.

Wes Bush, chief executive of Northrop Grumman Corp (NOC.N: Quote, Profile, Research, Stock Buzz), one of the biggest U.S. weapons makers, said his company had already reduced its workforce by 19 percent in recent years, and more cuts were likely unless U.S. lawmakers ended the across-the-board cuts required under sequestration.

Dec 2, 2013

Lockheed says Pentagon recertifies cost-tracking system

WASHINGTON, Dec 2 (Reuters) – The Pentagon has recertified
an internal cost-tracking system used by Lockheed Martin Corp’s
aeronautics division, freeing up progress payments that
were docked starting in 2010 after problems arose with the
system, Lockheed said on Monday.

According to a company statement, the Pentagon’s Defense
Contract Management Agency (DCMA) said it decided to recertify
Lockheed’s earned value management system (EVMS) after marked
improvements in the company’s approach to fixing the system.

Nov 26, 2013

South Korea order would drive F-35 per-plane cost lower

WASHINGTON (Reuters) – South Korea’s plan to buy 40 Lockheed Martin Corp (LMT.N: Quote, Profile, Research, Stock Buzz) F-35 fighter jets will save the U.S. military about $2 billion by driving down the per-plane price of the new plane, and could create up to 10,000 U.S. jobs, according to sources familiar with the program.

Seoul’s decision will also help to offset any move by the U.S. Air Force and Navy to deal with mandatory budget cuts by postponing orders for up to 54 jets over the next five years, according to analysts. Seoul’s decision must still be approved by a committee chaired by its defense minister.

Nov 26, 2013

Small software maker wins $24.8 mln judgment vs Lockheed

WASHINGTON, Nov 26 (Reuters) – Command Technology Inc, a
privately held firm that developed electronic maintenance
manuals for Lockheed Martin Corp’s F-16 fighter jet, has
won a $24.8 million judgment against the Pentagon’s biggest
supplier for unfair competition.

Groton, Connecticut-based Command makes similar software for
many other U.S. weapons systems, but sued Lockheed after being
shut out of the work on the 4,500 F-16 fighter jets that have
been sold to the U.S. military and two dozen other countries.

Nov 26, 2013

Software maker Command wins $24.8 million judgment against Lockheed

WASHINGTON (Reuters) – Command Technology Inc, a privately held firm that developed electronic maintenance manuals for Lockheed Martin Corp’s F-16 fighter jet, has won a $24.8 million judgment against the Pentagon’s biggest supplier after a jury found Lockheed guilty of unfairly competing with the smaller firm.

Command Technology, which is based in Groton, Connecticut, makes similar software for many other U.S. weapons systems, but sued Lockheed after being shut out of the work on the 4,500 F-16 fighter jets that have been sold to the U.S. military and two dozen other countries around the world.

Nov 25, 2013

U.S. military delivers first fast patrol boat to Egypt

DUBAI, Nov 25 (Reuters) – The U.S. military has transferred
the first of four U.S.-built fast patrol boats to Egypt, but
said the move did not signal a change in Washington’s decision
to withhold most military aid due to concerns about democracy
and human rights.

“This is not a shift in our posture with regard to foreign
military assistance,” said Pentagon spokesman Navy Commander
Bill Speaks, adding that Washington continued to review the
overall level of aid to Egypt.