For several days, Bank of America’s systems had problems. The problems – primarily denial of service disruptions – hit their web site and reportedly their mobile banking services. For BofA, the nation’s largest bank based on assets, this was not the first issue or attack they experienced in the past year. Nor in fact, was…
By Sydney J. Freedberg Jr.WASHINGTON: State governors are complaining to Congress about Defense Secretary Leon Panetta’s offer to give the Air National Guard two dozen C-130 aircraft and add back almost 1,200 jobs, saying it isn’t enough. The president’s budget originally proposed cutting 5,100 Air Guard jobs; last week, Panetta offered to restore 1,179 (by the governors’ count) and…
By Sydney J. Freedberg Jr.The Navy’s proposal to delay construction of new ballistic-missile submarines (SSBNs) meant to succeed the current Ohio class is both good and bad news for America’s shipbuilders, according to the program manager for the new “boomer” sub. But key members of Congress -– already at odds with the Administration over delays to the Virginia-class submarine…
By David AxeThe cost of building Virginia-class attack submarines could grow by up to $600 million if Congress signs off on the Navy’s proposal to slip a Virginia from 2014 to 2018. Under heavy pressure to cut budgets, the Navy wants to reduce sub-building expenses in the short term, even at the price of increasing the program’s…
By David AxeCAPITOL HILL: The Obama administration’s defense budget raises the risks to American security to an “unacceptable” level, if you believe Sen. Joseph Lieberman and a number of Republican members of the Senate Armed Services Committee. If you believe Secretary of Defense Leon Panetta and Chairman of the Joint Chiefs, Gen. Martin Dempsey, the risks are…
By Colin ClarkWASHINGTON: A Republican plan to spare the Pentagon roughly $500 billion in spending cuts faces rough passage with no guarantee the department could avoid the spending reduction, two defense analysts say. Sens. Kelly Ayotte, John McCain, Lindsey Graham, Joe Lieberman and John Kyl will roll out a “substitute” sequestration plan this week. Formal legislation will…
By Carlo Munoz