:

Business/Financial

Navy’s RMMV Breaches Nunn-McCurdy Law

DDN

Monday, December 21st, 2009

SHARE:

By Geoff Fein The Navy last week notified Congress of a critical Nunn-McCurdy breach of the Remote Multi-Mission Vehicle (RMMV) portion of the Remote Minehunting System (RMS) program. Lockheed Martin [LMT] builds the RMMV. According to the Navy, in November, the program manager for AN/WLD-1 RMS notified Navy officials of reasonable cause to believe average procurement unit costs for the RMMVs are $12.7 million, approximately 51.8 percent greater (in 2006 baseline dollars) than the original baseline estimate; and that procurement…

Army

Hegseth Says DoD Open To Reviewing Army’s Planned Cuts To Legacy Helicopter Procurement

Defense Secretary Pete Hegseth has told lawmakers the Pentagon is open to reviewing the Army’s planned procurement cuts to its legacy manned aviation fleet. Rep. Rosa DeLauro (D-Conn.), ranking member […]

Congress

Appropriators Press For Details On Iran War Costs; DoD’s $29B Estimate Doesn’t Include Base Damage

The Pentagon estimates the U.S.’ ongoing conflict with Iran has now cost at least $29 billion, while a lead official noted the updated figure does not factor in damage to […]

Congress

Appropriators Offer Skepticism On $350B Defense Reconciliation Plan, ‘Big Risk’ For Key Initiatives

Senate and House Appropriators told Pentagon leadership on Tuesday they’re skeptical of the department’s plan to fund $350 billion of the fiscal year 2027 defense budget through the reconciliation process, […]

Congress

All Future Systems Should Have Autonomy Features, Reed Says

Last week, Sen. Jack Reed (D-R.I.) visited North Kingstown, R.I.-based Senesco, which is teaming with autonomous systems company Havoc to bid on the U.S. Navy’s Medium Unmanned Surface Vessel program. […]