March 27, 2024

Defense Stocks Fall on Obama Re-election

Barack Obama

Morning Coffee is a robust blend of links to news around the Internet concerning the Naval Air Station Patuxent River economic community. The opinions expressed here do not necessarily reflect those of the Leader’s owners or staff.

Defense shares drop sharply on news of Obama victory, Reuters reports. Raython, L-3, Lockheed and Northrop get hammered, The Wall Street Journal reports. Boeing announces that it’s cutting 30 percent of its management jobs and restructuring its defense business.

Barack Obama

President Barack Obama

Democrats score wins in defense-heavy states, Aviation Week reports, adding that changes are coming to House defense committees. DoD Buzz speculates on the crop of defense secretary hopefuls. Nextgov says Obama’s election will mean a continued focus on technology at the Pentagon.

DoD says it’s time for Congress to face a military cost squeeze, Politico reports. Both parties say they are optimistic about stopping sequestration (paywall), Defense Daily reports. House Speaker John Boehner says the GOP is willing to accept new revenues. But Congress is likely to try to defer sequestration until next year, according to the Washington Business Journal. National Defense says the Congressional game of chicken will continue for now. Government Executive quotes leaders as saying they are ready to deal but then opines that the new Congress will be just as deadlocked as the old one.

The Hill reports that the Senate Armed Services Committee is considering skipping Senate floor debate and heading straight to conference to get the defense budget passed this year.

New military students at Great Mills High School get a little help from Pax River mentors, The Tester reports.

China’s warplane industry is expanding, Aviation Week reports. FlightGlobal profiles new Chinese UAVs and advanced fighters.

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