In an interview last week, Lockheed Martin CEO Marillyn Hewson expressed optimism about the F-35 Joint Strike Fighter, which has experienced numerous setbacks and budget overruns throughout its development.
Over the past week, members of the Senate Armed Services Committee (“SASC”) put increased pressure on Defense Secretary Chuck Hagel to provide the DoD’s 2013 sequestration plan for the first portion of planned military cuts.
Details emerged on Friday surrounding the DoD’s planned budget reprogramming request, which the department had said would be necessary to address funding shortfalls in certain accounts that came as a result of the continuing resolution (“CR”) and sequestration.
U.S. Air Force Secretary Michael Donley announced that he will be stepping down on June 21. Donley’s five years at the service were largely focused on overseeing the Air Force’s transition from operations in the Middle East towards a heavier presence in the Pacific, and were marked by his successful effort to enter the new long-range bomber as a program of record.
Over the past week, the Federal Aviation Administration announced that it approved the 787’s redesigned battery system and is allowing the plane to return to service after the government’s three-month long grounding of the aircraft.
Over the past week, President Obama introduced the White House’s $3.778 trillion spending plan for GFY2014, which called for almost $1 trillion in tax increases over 10 years and higher spending on programs such as education, transportation, and mental-health services.
Tensions on the Korean peninsula escalated over the last week as North Korea continued to make aggressive statements regarding attacks on U.S. bases in the Pacific, as well as against South Korea and Japan.
Over the past week, U.S. Bankruptcy Judge Sean Lane approved the American Airlines merger with US Airways Group, Inc. The potential merger was announced in February, more than a year after US Airways began its pursuit of a deal in January 2012, shortly after American Airlines filed for bankruptcy.