April 5, 2020

DoD Adjusts Cash Flow to Contractors in Response to Coronavirus

military raise

DoD will raise progress payments to improve cash flow to contractors as the coronavirus continues to impact the economy. Northrop Grumman and General Dynamics have already cautioned investors; Boeing has closed its Puget Sound plants; and CAE, GE, and Airbus, government contractors with large commercial exposure, are taking various aggressive actions to rein in costs and staunch losses.

MD Could Lose 36K Jobs

Defense industry says state would be in top ten budget cut losers.