rumor

Rumors Fly That OMB Tells Pentagon To Ready $100 Billion More Cuts

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Washington: The Pentagon email traffic is burning up with whispers that the White House has told the Pentagon to plan for an additional $100 billion in cuts for 2013.

The planning guidance was reportedly issued to insure that the Pentagon would be ready should the Super Congress fail to implement $1.2 trillion in cuts and trigger what Defense Secretary Leon Panetta called the “doomsday mechanism” of $500 billion in defense cuts. Panetta told reporters last week that he was not planning for any such cuts. OMB Director Jacob Lew issued a carefully worded memo yesterday: Keep reading →

Published August 18, 2011 at 3:45 PM

Lockheed, Raytheon Boast JAGM Missile Test Successes

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UPDATED Washington: The Raytheon-Boeing team building took another significant step ahead of Lockheed Martin in the $5 billion Joint Air To Ground Missile competition, successfully testing its rocket motor for helicopter flight.

Raytheon officials said the fifth and sixth rocket engines were subjected to temperatures as low as -65 Fahrenheit and successfully fired after being subjected to helicopter motion and vibration stresses on July 13. Keep reading →

Published August 17, 2011 at 10:45 AM