Lockheed Martin Corp. (LMT) has recently bagged an $853.3 million contract from the U.S. Navy for the Trident II missile production and deployed system support. Work is expected to be completed by Dec 30, 2013.   Manufactured by Lockheed Martin Space Systems in Sunnyvale, California, Trident II is a submarine variant ballistic missile. It is extensively used by the U.S. and the U.K. The addition of $853.3 million would boost the beleaguered backlog of the company, which shrunk to $76.4 billion after the first nine months of the fiscal 2009 from $80.9 billion at year-end fiscal 2008. The downside in order backlog came through the cancellation of quite a few high-cost platform programs in recent times. Prominent among them were TSAT Mission Operations System (TMOS) contract, F-22 Raptor program and the VH-71 Presidential Helicopter (VH-71) program.   Lockheed Martin remains a key player within the military space and ...

Lockheed Martin Corporation (LMT) yesterday bagged a $133 million contract from the U.S. Army to provide eight threat detection systems. The company will supply the systems over the next 11 months. The U.S. Army is already using nine such systems. Lockheed’s detection systems are equipped with multi-mission sensors to provide intelligence, surveillance, reconnaissance and communications to support coalition forces. 

In recent times, Lockheed Martin Corporation has witnessed the cancellation of quite a few prominent programs such as the TSAT Mission Operations System (TMOS) contract, F-22 Raptor program and the VH-71 Presidential Helicopter (VH-71) program. Lockheed Martin’s high-cost platform programs were the prime targets of the Obama administration for budget cuts. The addition of $133 million would boost the beleaguered backlog of the company, which shrunk to $79.2 billion after the first half of the fiscal 2009 from $80.9 billion at year-end fiscal 2008. 

Lockheed Martin remains …

Jet engine maker Pratt & Whitney said it plans to eliminate 1,000 jobs in Connecticut by 2011, transferring engine repair work to the Southeastern state of Georgia and Asia in a cost-cutting initiative.

This subsidiary of United Technologies Corp. (UTX) will close down its Cheshire, Connecticut, plant by early 2011. From the second quarter of 2010, it will begin shifting some operations from the East Hartford facility to Columbus, Georgia, Singapore and Japan. Pratt & Whitney, which is suffering due to sagging demand from airlines, employs 35,000 workers worldwide, with 11,000 in Connecticut.

The company rejected an offer that the Machinists union valued at more than $80 million in wage and other concessions and a state plan proposing $100 million in economic assistance over five years. Pratt & Whitney has vastly scaled back operations in the state since the 1960s, when more than 20,000 workers were employed.

Pratt

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Lockheed Martin Corporation (LMT) bagged a $421.1 million contract from the U.S. Air Force for upgrading the Air Force’s command and control center, Weapon System Integrator. The company will provide systems engineering, integration, modernization, maintenance, management and contingency support. In recent times, Lockheed Martin has witnessed the cancellation of quite a few prominent programs such as the TSAT Mission Operations System (TMOS) contract, F-22 Raptor program and the VH-71 Presidential Helicopter (VH-71) program. Lockheed’s high-cost platform programs were the prime targets of the Obama Administration for budget cuts. The addition of $421.1 million would boost the beleaguered backlog of the company, which reduced to $79.2 billion after the first half of the fiscal 2009 from $80.9 billion after year-end fiscal 2008. Lockheed Martin remains a key player within the military space and continues to benefit from strong defense spending. The company’s customer base includes the ...

On Tuesday July 21, the Senate voted 58-40 and sent Lockheed Martin Corporation’s (LMT)) F-22 fighter to an early perdition. The air superiority fighters had entered the air force in 2005. The vote removed $1.75 billion set aside for seven more F-22s in the $680 billion 2010 defense bill.  The twin-engine F-22 Raptor fighter touted as the most advanced in the world was shelved primarily due to a lack of sophisticated planes to shoot at. Although advocates of F-22 put forward the Chinese and Russian menace, it looked too far fetched to convince the Senate and the White House.  The U.S. already has 187 of these Raptors. But the need of the day to tackle ground enemies dictates more low-cost F-35 Joint Strike Fighters and unmanned UAVs. The defense bill has thus allotted berth to 30 F-35s in the armory, which are also manufactured by Lockheed Martin. ...

By Guest Author: Adam Lass (www.taipanpublishinggroup.com)

Anyone who has ever flown on most any commercial airline is familiar with this scenario: Your plane is supposed to depart in the next few minutes. The big board says the flight is on time. The lady behind the counter is all smiles.

But you haven’t actually boarded or anything. In fact, as you squint out the window, you can see that there is no plane available to board, a fact that the oblivious clerk seems unable or unwilling to acknowledge.

Thirty minutes after your takeoff slot has come and gone, the ubiquitous screens that decorate the departure lounge’s walls suddenly blur, flicker and light up with the announcement that some flights may be delayed… by 10 minutes.

Airlines Crash and Burn

I’ve always wondered: Is this just wishful thinking? “Maybe pixies will make a plane appear!” Or more probably, “Maybe if we say nothing, no one will complain.”

When …

BA obviously can’t land its 2009 numbers. So when does arrogance become fraud?

Anyone who has ever flown on most any commercial airline is familiar with this scenario: Your plane is supposed to depart in the next few minutes. The big board says the flight is on time. The lady behind the counter is all smiles.

But you haven’t actually boarded or anything. In fact, as you squint out the window, you can see that there is no plane available to board, a fact that the oblivious clerk seems unable or unwilling to acknowledge.

Thirty minutes after your takeoff slot has come and gone, the ubiquitous screens that decorate the departure lounge’s walls suddenly blur, flicker and light up with the announcement that some flights may be delayed… by 10 minutes.

Airlines Crash and Burn

I’ve always wondered: Is this just wishful thinking? “Maybe pixies

...

Reality Checks In at BoeingApril 10, 2009 was not a "Good Friday" for The Boeing Company (BA), as it culminated a spate of bad news!First, the Company announced that its net orders for the first quarter of '09 totaled a negative 4 shipsets, as previous orders for 32 787s had been cancelled, which more than offset the 28 orders it had received for other models.Then it was learned that Defense Secretary Gates appears to be intent on terminating a number of programs, including the Army's Future Combat Systems program - for which Boeing is the prime contractor - and the Air Force's F-22 Raptor - for which Boeing is an associate contractor.Subsequently, Boeing announced that it will adjust production at its Everett facility, with the 777 declining from 7 aircraft per month to 5, while 747-8 and 767 rates will ...