March 5, 2009 |
Taking particular aim at overruns in defense spending, President Obama pledged Wednesday to save up to $40 billion a year through a government-wide overhaul of federal purchasing. The White House is backing legislation by Sens. John McCain (R-Ariz.) and Carl Levin (D-Mich.) to reform defense spending. But the president also has ordered his budget office to develop new rules by this fall for the way everyone in government does business.
June 15, 2007 |
The Justice Department is investigating whether British defense giant BAE Systems, which supplies Bradley fighting vehicles to the U.S. military and is becoming a major player in the U.S. defense industry, paid bribes to win contracts in Saudi Arabia, Chile and elsewhere, federal officials confirmed Thursday.
April 26, 2007 |
Boeing Co. reported Wednesday that first-quarter earnings climbed 27% as it continued to rack up large passenger jet orders and defense contracts. Net income rose to $877 million, or $1.13 a share, from $692 million, or 88 cents, a year earlier. Revenue rose 8% to $15.37 billion. Analysts surveyed by Thomson Financial were expecting the company to post earnings of $1.01 a share. Boeing shares rose $1.02, or 1.1%, to an all-time high of $94.69.
August 24, 2006 |
Only a few years ago, Advanced Arm Dynamics Inc. was making artificial limbs for civilians. But today, the Redondo Beach-based company has a more high-profile client: the Pentagon. Advanced Arm Dynamics, an 8-year-old company that makes advanced prostheses for upper body amputees, has been awarded more than $70 million in defense contracts in the last year to outfit wounded American soldiers returning from Iraq.
January 2, 2005 |
Remember the leaner, faster, high-tech military promised by Defense Secretary Donald H. Rumsfeld? It now looks like the cold realities of waging war on the ground may push those dreams -- and big paydays for defense contractors -- further into the future. As 2004 ended, defense stocks were reeling due to the prospect of Pentagon budget cuts in the new year. Shares of Lockheed Martin Corp., Northrop Grumman Corp., General Dynamics Corp. and Boeing Co.
December 14, 2004 |
Boeing Co. has won a $928-million contract to field the ground-based component of a planned U.S. missile defense shield, the Pentagon announced Monday. The Pentagon's Missile Defense Agency said the cost-plus-award fee would cover construction and non-construction efforts at a missile defense site in Huntsville, Ala., in fiscal years 2005 through 2007. The Pentagon this weekend scrapped the first flight test in nearly two years of the planned missile defense shield because of bad weather.