Jobs, Pensions on the Line with Sequestration
Morning Coffee is a robust blend of links to news around the Internet concerning the Pax River economic community. The opinions expressed here do not necessarily reflect those of the Leader’s owners or staff.
CNN says sequestration reporting law will be a major headache for Obama after the election. Avionics Intelligence opines that rarely has the picture been bleaker for the defense industry. Defense firms may issue layoff warnings before the election, despite labor department guidance, Reuters reports. Washington Business Journal reports that Moody’s predicts that Lockheed, Boeing, Northrop and Excelis will terminate employee pensions. Time suspects the defense industry wants to continue rent seeking.
Avionics Intelligence argues that manned aircraft will still be needed in large numbers to counter China’s air defenses. The military is “working aggressively” to ease drone sales to other nations, AOL Defense reports.
NAVAIR contracts: Sikorsky gets $39.2 million more for logistics services and materials for organizational, intermediate, and depot-level maintenance to support 148 T-34, 54 T-44, and 178 T-6 aircraft; and Raytheon gets an $8.5 order for 132 electro-optical daylight operations improvement retrofit kits and weapon replaceable assemblies for the F/A-18.