KITTERY, Maine— Portsmouth Naval Shipyard is hiring more than 700 workers to deal with an increase in work as the Navy aims to reduce maintenance delays, particularly on nuclear submarines, officials say. The Navy is also hiring at its three other public shipyards, with about 1,520 workers at Norfolk Naval Shipyard, about 850 at Puget Sound Naval Shipyard and...» Read More
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.
Defense giants Boeing and Northrop Grumman keep going at it over the Air Force tanker deal. This as the clock ticks down on a Government Accounting Office investigation into whether the current decision should stand.
Lockheed Martin said Tuesday quarterly profit rose 6 percent, helped by higher sales of its electronic, information and space systems.
Australia may delay some of the Lockheed F-35 Joint Strike Fighters it planned to buy because they cost too much. This, even though the Aussies are helping to create the next generation military jet. Wait, you mean there's already a military aircraft being built in part by foreigners?
The new tanker being put forward by Northrop Grumman and EADS is supposed to include a new system to defend itself from attack. Good thing. Seems a lot of defense has been necessary ever since Northrop and the Airbus folks beat out Boeing to win the massive contract.
Northrop Grumman updated analysts with a conference call on the KC-45 tanker program--the $35 billion contract Northrop and EADS beat out Boeing to win. Boeing has filed a protest, and today Northrop said it has completely stopped work on the tanker until a review of the protest is completed by the Government Accounting Office.