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Business/Financial

DoD Leaders Weigh Cuts, New Acquisition Chief

Julie Samuel

Friday, August 5th, 2011

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As the Pentagon enters a time of austerity, defense leaders said they are rethinking weapon systems plagued by cost and schedule problems and looking for a new acquisition chief with industry knowledge. Defense Secretary Leon Panetta and Chairman of the Joint Chiefs of Staff Adm. Michael Mullen told reporters yesterday the Pentagon is well positioned for the first round of defense cuts called for in the deficit-reduction act President Barack Obama signed into law on Tuesday. That’s because the Pentagon…

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