April 8- A retired U.S. Army colonel has agreed to plead guilty to negotiating a job with financier Lynn Tilton's private equity firm while also taking steps to ensure a helicopter company that did business with the Department of Defense got paid faster. Court papers do not identify by name the helicopter company, MD Helicopters in Mesa, Arizona, or Patriarch...» Read More
Today the Department of Defense is submitting a new "draft request-for-proposal and source selection process" for the air refueling tanker. In other words, we find out what the Pentagon is looking for in a new plane, and how it will be incorporating the changes suggested by the Government Accountability Office.
Honeywell International Friday reported quarterly profit jumped 18 percent, topping expectations, and raised its full-year earnings forecast, citing strong demand for aircraft electronics and environment and security control systems used in large commercial buildings.
I’ve got to stop talking about IndyMac and the banking crisis. Time to move back to the Air Force tanker crisis involving Boeing and Northrop Grumman. As I got home from DAY 3 of "THE INDYMAC BANK RUN" I finally got a chance to open up this week’s Aviation Week (aka “Aviation Leak”) which has an interview with Boeing CEO Jim McNerney.
Protectionism is not good for anybody and could hurt trans-Atlantic relations, the chief executives of EADS and Northrop Grumman told CNBC referring to the largest-ever tanker deal, which last week was reopened by the US department of defense.
The House Air and Land Forces Subcommittee is holding a hearing today on how the Air Force Tanker selection process went so wrong. Fifteen minutes into the hearing, they had to adjourn to go vote on other matters. But they'll be back.
On Bank of America CEO Ken Lewis' speech on mending the mortgage markets, it turns out Mr. Lewis isn't universally loved.
Gates is putting Under Secretary John Young in charge of picking a winner, a final blow to the Air Force. But Acting Secretary of the Air Force Mike Donnelly says he fully supports that decision.
Alliant Techsystems Inc. , a military contractor and aerospace company, said Wednesday it will supply rockets to the U.S. Air Force under a contract worth as much as $250 million.
It’s going to be a long, hot summer until the Air Force decides whether to reopen bidding, and, if so, whether to start over completely with a new set of rules. I’m beginning to think the entire tanker saga is like the original “Star War” trilogy.
I reported it would happen, and it did: Northrop Grumman has called off indefinitely the groundbreaking ceremony for its new Alabama tanker assembly facility, originally scheduled June 28th.
I asked for feedback on the tanker decision and I got it. Also, vote in the poll at the bottom.
Analysts were surprised, at least a little, that Boeing won its challenge alleging the Air Force was wrong in awarding the $35 billion tanker contract to Northrop Grumman/EADS.
Boeing was informed today that the Government Accountability Office (GAO) found in Boeing’s favor on a number of issues related to its protest of the U.S. Air Force’s award of a $35 billion contract to supply the service with its next-generation aerial refueling aircraft – or KC-X tankers – to begin replacing the current fleet of KC-135 tankers.
I'm hearing the Government Accountability Office will not decide on the Boeing challenge to the $35 billion tanker contract today. That probably means it WILL happen today (kidding, I think). The decision may come down tomorrow.
Boeing confirms to CNBC that the Air Force has admitted it got its math wrong on how much Boeing's tanker would cost over the long haul. Boeing says this validates what it's been saying for months in challenging the $35 billion contract award to Northrop Grumman and the European parent of Airbus.
It's been a year since I started reporting on "the biggest defense contract of 2007," except now it'll be "the biggest defense contract of 2008." Or maybe 2009. The $35 tanker deal has taken more odd turns than a lost UAV, including...
My post on Lockheed Martin's Chairman and CEO criticizing protectionism and pointing to the Northrop Grumman/EADS tanker award "as reinforcing the openness of U.S. markets," elicited quite a bit of heated email, none of it from Lockheed fans.
Strong business in the U.S. and rapid organic growth have helped British defence technology group QinetiQ beat expectations with a 20 percent rise in full-year operating profit and raise operating margin targets, CEO Graham Love told CNBC.com.
Strike three for Boeing, after losing another huge contract. The deal to provide the Pentagon with up to a dozen next generation satellites—worth $1.4 billion—went to Lockheed Martin.
Finmeccanica, Europe's fourth-largest aerospace and defense company, has approached DRS Technologies, proposing a takeover bid of as much $5.41 billion, sources close to the matter told Reuters.