Visit our Filed page for categories. To browse by specific topic, see our Inside page. For a list of companies covered on this site, visit our Companies page.
A test of the sole U.S. defense against long-range ballistic missiles failed again Wednesday, the second failure in a row involving the system managed by Boeing Co., the Defense Department said.
“The Missile Defense Agency was unable to achieve a planned intercept of a ballistic missile target during a test over the Pacific Ocean (Wednesday),” Richard Lehner, an agency spokesman, said in an e-mailed statement. No preliminary explanation of the failure was provided. Get the full story »
Lockheed Martin Corp. is moving to trim its executive ranks as the Pentagon, its biggest customer, pressures defense contractors to cut overhead costs on huge weapons programs. Lockheed said Tuesday it is offering directors and vice presidents financial incentives to leave voluntarily by Feb. 1.
Defense Secretary Robert Gates said last week that he wants to find savings among the roughly $400 billion the Pentagon will spend this fiscal year on defense contractors. The companies, which also include Northrop Grumman Corp., Raytheon Co. and Boeing Co., among others, provide the military with a wide range of weapons and services.
