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November 8, 1999

HEADLINE NEWS

Lockheed Martin Faces Long, Painful Recovery

HEADLINE NEWS

COO Search Looks to Boeing

HEADLINE NEWS

Industry Woes Worry Pentagon

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HEADLINE NEWS

Lockheed Martin Faces Long, Painful Recovery

Confidence in the U.S.' largest defense contractor plummets as a spate of financial and operational problems clouds the company's future

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HEADLINE NEWS

COO Search Looks to Boeing

WASHINGTON Aerospace officials from across the country say Lockheed Martin’s headhunters and corporate directors are looking hard outside the company for a new chief operating officer, and the list of those contacted is growing. Those considered are being told the new COO would be in the job only about six months after which the new hire would be expected to take over Lockheed Martin’s top spot from current Chief Executive Officer Vance Coffman.

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HEADLINE NEWS

Industry Woes Worry Pentagon

WASHINGTON With poor earnings announcements from Raytheon and Lockheed Martin causing the companies to take a beating on Wall Street, the Pentagon has realized it faces a potential crisis that could lead it to lose critical components of its industrial base.

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HEADLINE NEWS

New Munitions Needs Spark Funding Uncertainty

WASHINGTON With the air war in Yugoslavia underscoring the need for new weapons, Pentagon officials are being forced to choose what ongoing programs to slow or cancel to free up Money for those that would address the new requirements. One of the problems faced by senior Pentagon officials is that while the air campaign showed the need for new capabilities, it didn’t reveal what programs are no longer required.

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HEADLINE NEWS

ICO Boosts McCaw's Satellite Empire Plans

WASHINGTON Craig McCaw's proposed $1.2-billion rescue of ICO Global Communications is part of a grand strategy by the cell phone magnate to create a satellite empire that would sell a wide variety of telecommunications services via multiple platforms.

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HEADLINE NEWS

Russia’s Defense Facing 25-year Rehabilitation

WASHINGTON Russia will remain a Eurasian military power well into the next century, but the defense ministry’s goal of fully upgrading the nation’s forces by 2025 may take longer than that, according to National Defense University. In its latest strategic assessment, the authoritative NDU says the Kremlin will have a tough time holding defense spending to no more than 3.5% of annual gross domestic product, while absorbing the high cost of modernizing and streamlining its sprawling military infrastructure.

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HEADLINE NEWS

Hamre: Export Delays Hurting U.S. Alliances

WASHINGTON Dismayed over a decision by Germany’s DaimlerChrysler Aerospace to stop buying U.S.-made components, Deputy Defense Secretary John Hamre said delays in export licensing are disrupting America’s alliances. “We have made it very hard for alliance operability when it’s so hard for U.S. companies to export their components and put them into systems overseas,” Hamre said in an address to a group of defense and industry officials in Washington last week.

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HEADLINE NEWS

Lockmart Expands JSF Range, Payload

WASHINGTON Lockheed Martin expects its short takeoff and vertical landing version of the Joint Strike Fighter to have two unique advantages in the competition for a next-generation, ground-attack aircraft— an extra 100-mi. radius in range, and a huge potential supply of electrical power to run sensor payloads or a laser weapon.

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HEADLINE NEWS

Marine Corps Battles Harrier Readiness Problem

WASHINGTON Marine Corps officials are in the process of reconstituting the AV-8B Harrier fleet after its readiness was seriously degraded earlier this year because of accidents and problems caused by the overall aging of the short takeoff and vertical landing attack aircraft.

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HEADLINE NEWS

Boeing JSF Design Revised Once Again

WASHINGTON Boeing has made a new set of changes to its Joint Strike Fighter candidate, by modifying the shape of its wing and adding inlets next to the cockpit. The wing changes, which Boeing was hoping to avoid, are supposed to provide its JSF design with greater maneuverability.

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