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Business/Financial

Strong Defense Results Can’t Offset Commercial Woes At Oshkosh

DDN

Friday, May 1st, 2009

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Oshkosh Truck Corp. [OSK] yesterday swung to a net operating loss in its second quarter due to the ongoing global recession despite a strong performance from the company's military truck business. Operating losses were $17.7 million versus operating income of $72.6 million a year ago as sales plummeted 27 percent to $1.3 billion from $1.8 billion due to a precipitous drop in demand worldwide for access equipment and cement trucks due to severe weakness in the construction markets. Revenues were…

Army

Lawmakers Request DoD Briefing On Army’s Planned Cuts To Aviation Procurement

A bipartisan group of House lawmakers has sent a letter asking the Pentagon for a briefing on the potential industrial base impacts as a result of the Army’s planned cuts […]

Congress

CENTCOM Looking To Lessons Learned From Use Of LUCAS Drones

U.S Central Command (CENTCOM) is looking to lessons learned from its use of Low-cost Unmanned Combat Attack System (LUCAS) drones by Phoenix-based SpektreWorks, according to CENTCOM head Adm. Brad Cooper. […]

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 […]