At the Paris Air Show, held at Le Bourget from June 20 to June 26, home cooking never tasted so good for Airbus. The European aerospace OEM saved its best for its home turf, dominating the headlines in a week of massively strong new order announcements on the back of its A320NEO (new engine option) single-aisle aircraft.
As a follow-up to our post on June 23, 2011, we noted some interesting anecdotes that were overheard at our Tech-Connect event about the challenges of bringing innovative commercial technologies to Federal government customers.
On Wednesday, President Obama announced plans for the reduction of troops in Afghanistan, with 10,000 U.S. troops scheduled to return home by year-end, and a total of 33,000 troops by the end of next summer. Savings are expected to be significant as each soldier in Afghanistan costs the U.S. approximately $1.0 to $1.2 million dollars per year.
On June 14, 2011, we co-hosted, as part of our efforts with MissionLink, a one-day offsite to connect 30 innovative technology companies with decision-makers across the Intelligence Community (“IC”). The Tech-Connect event resembled something more akin to a Silicon Valley venture capital conference than the traditional government industry day.
We have the opportunity to work as an advisor in the context of M&A transactions with many great companies. Each company is unique, which is part of the allure and challenge of our work at KippsDeSanto. However, there are very consistent themes that typically yield premium results.
The House Appropriations Committee, which met on Tuesday, cut $8.9 Billion from the Pentagon’s 2012 Budget request, providing $530 Billion for the Pentagon’s base budget. In order to reach this reduced base allocation, the defense subcommittee found areas where reductions are possible without adversely impacting the readiness of the military, such as the Army’s Enhanced Medium Altitude Reconnaissance and Surveillance program, one of the hardest hit in this round of cuts.
Leadership turnover has been a prevailing theme across the Federal government’s initiatives to refine its global cybersecurity strategy. Most recently, the head cyber official within DHS, Phil Reitinger, announced his resignation from the position, citing “personal reasons.”
Defense Secretary nominee Leon Panetta testified before the Senate Armed Services Committee Thursday, stating that “the government does not need to choose between fiscal discipline and a strong national defense” in light of President Obama’s planned $400 billion in cuts to the security budget. In order to manage costs, Panetta intends to accelerate the Pentagon’s full financial audit and place “everything on the table” for review, from weapons programs to military health care and other entitlement programs.