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Business/Financial

A Year-Plus After Renationalization, Effect of Lost U.K. Weapons Complex Shows at Lockheed Martin

Wednesday, October 19th, 2022

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In the nine months just ended, renationalization of the U.K. nuclear weapons complex cost Lockheed Martin’s [LMT] Space segment more than three quarters of a billion dollars, the company reported Tuesday. Bringing the British weapons program fully back into the government’s arms dropped sales in Lockheed Space by some $865 million over the past nine months, according to the company’s latest 10-Q filing with the Securities and Exchange Commission. The Kingdom’s move was long expected, but the figure gives some…

Budget

Hegseth Pushes For Reconciliation With At Least $350 Billion For Defense ‘Regardless’ Of Midterms Outcome

Defense Secretary Pete Hegseth said Wednesday the Trump administration plans to continue its push for at least $350 billion in defense funds via the reconciliation process “regardless of what happens […]

Congress

Bipartisan Push in Senate to Hasten Export of 155 mm, GMLRS, HIMARS for Ukraine

A small, bipartisan group of senators is backing the Fast Tracking European Investment in Ukraine’s Defense Act, S. 5175, to hasten the export of allied buys of U.S. munitions for […]

Congress

Rep. Himes Signals Increased Contractor Oversight, if Democrats Win House

Rep. Jim Himes (D-Conn.), the ranking member of the House Permanent Select Committee on Intelligence, plans to increase the committee’s contractor oversight if the Democrats win control of the House […]

Congress

CBO Estimates Loss of One-Half to Two-Thirds of U.S. Missile Interceptors Since June Last Year

A new Congressional Budget Office report estimates the cost of the Iran war through Aug. 1 as $38 billion and says that the U.S. has likely depleted between one-half and […]