We recently read the Special Collector’s Edition of Scientific American entitled “A Matter of Time”[1]. The 116-page edition examined snapshots of revolutionary development work focused on time measurement and theory—much of which stretch and challenge the basic principles of relativity and quantum mechanics that order, simultaneity, continuity and duration all beat to a unified theory pinned to an underlying clock.
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March Cyber Intelligence Review
March was a busy month in the Cyber / Intel arena with some newsworthy market developments, and a handful of notable acquisitions and VC funding transactions taking place. In the federal arena, General Keith Alexander, Director, NSA and Commander of CYBERCOM spoke to the House Committee on Armed Services Subcommittee on Emerging Threats and Capabilities.
Industry Week in Review – April 6, 2012
Following the recent International Society of Transport Aircraft Trading (“Istat”) conference and this week’s Engine MRO Forum put on by Aviation Week, debate over the surging demand for new jets and whether Boeing and Airbus are producing too many new narrow body plans has begun to escalate. In 2011 Airbus and Boeing received more than 2,200 net orders, nearly double the level in 2010 and well beyond the 1,011 jets they delivered.
Industry Week in Review – March 30, 2012
A new Pentagon report, released on March 29th, projects a nearly $17 billion increase (vs. prior estimates) in the total cost of the F-35 Joint Strike Fighter program. The report estimates the total program cost to $396 billion, representing 2,443 aircraft for the USAF, USMC, and U.S. Navy.
SAIC Earnings Announcement, What Does It Mean?
SAIC posted a fourth quarter loss of over $161 million, or $0.49 per share, and initiated a dividend program with the first payment of $0.12. This announcement highlights two key trends in the government services markets (i) heightened focus on compliance and oversight, and (ii) strategic challenge as how best to deploy capital in a low-to-no growth market environment.
Green Light Granted for Offense: Let’s Go!
On March 20, General Keith Alexander delivered a statement before the House Committee on Armed Services. The prepared statement highlighted the roll-out of Cyber Support Element (CSE) placements at all six combatant commands to tailor mission support requirements for cyberspace operations. In effect, this testimony confirmed that cyber warfare (aka offense) will be conducted by each of the combatant commands, rather than led by USCYBERCOM or NSA.
Industry Week in Review – March 23, 2012
This week, USAF Secretary Michael Donley announced that the latest restructuring of the $382 billion program should allow the program to proceed with the “least risk,” a message repeated by the Pentagon’s F-35 program manager, chief weapons buyer and the Air Force acquisition chief at a separate House of Representatives subcommittee hearing.
Aerospace M&A Bolstered by Industry Upswing
Mergers and acquisitions activity in the commercial aerospace industry has progressively rebounded from lows experienced in 2009. The cyclical sector was stung by the economic downturn, and deal volume was more than halved, from 107 announced transactions in 2008, to just 52 in 2009. As stability returned to global markets, the industry emerged from the doldrums with noticeable tailwinds.
Authors
Michael J. Misantone
During his 12 years of investment banking experience, Mr. Misantone has completed...
Marc B. Marlin
Mr. Marlin has a broad base of experience in providing transaction advisory services...
