Jan. 20 at 11:17 a.m.
Filed under:
Airplanes,
Defense
By Los Angeles Times
Time is running out at Southern California’s last major conventional aircraft factory.
Citing declining orders for its C-17 cargo planes, Boeing Co. said it was cutting 900 of the 3,700 jobs at its sprawling Long Beach plant. Barring congressional intervention or a spate of foreign orders — which analysts say is unlikely — the factory is expected to shut down completely by the end of next year.
AP reports that the aerospace giant also is cutting 200 additional jobs in Arizona, Georgia and Missouri in light of the declining demand. Get the full story >>
Jan. 17 at 6:37 a.m.
Filed under:
Autos,
Defense,
Jobs/employment,
Layoffs
By Associated Press
AM General plans to lay off 300 workers from the northern Indiana factory that makes Humvees for the military. Get the full story »
Jan. 14 at 1:52 p.m.
Filed under:
Defense,
Government,
Technology
By Reuters
President Barack Obama’s administration plans to pull the plug on the troubled “virtual fence” project meant to better guard stretches of the U.S. border with Mexico, a senior lawmaker said Friday.
The project, being run by Boeing Co., has cost about $1 billion to pull together video cameras, radar, sensors and other technologies to detect smugglers trying to cross the porous border. Get the full story »
By Dow Jones Newswires
Supporters of U.S. Army Pfc. Bradley Manning, who is suspected in one of the biggest security breaches in U.S. history, said Thursday that Web site WikiLeaks has fulfilled its pledge to aid in his defense by contributing $15,100, the Associated Press reported.
The Bradley Manning Support Network announced the gift. Get the full story »
Jan. 13 at 11:33 a.m.
Filed under:
Defense,
Earnings
By Reuters
Houston-based engineering and military contracting company KBR Inc. (formerly Kellogg Brown & Root) expects to generate less than a fifth of its 2011 revenue from U.S. military logistics, though the engineering company said that will be more than it had previously anticipated.
KBR Chief Executive Bill Utt said Thursday that the $280 million acquisition of Chicago-based Roberts & Schaefer, a bulk material handling and processing specialist in mining, power and refining, would contribute 11 cents a share to KBR’s 2011 earnings.
KBR has focused more on engineering projects for the energy and mining industries to offset the lost military work. Get the full story »
By Reuters
U.S. manufacturer ITT Corp. plans to split itself into three companies to take advantage of the growing water and industrial markets as its defense unit prepares for U.S. military spending cuts.
Its shares rose 18 percent Wednesday, reaching their highest point since the fall of 2008. Get the full story »
Jan. 11 at 3:13 p.m.
Filed under:
Airplanes,
Defense,
Manufacturing
By Reuters
Airbus on Tuesday announced what it called the biggest jet order in commercial aviation history with a $15.6 billion deal to sell 180 planes to Indian budget carrier IndiGo including the first orders for a revamped model.
The deal comes as the European planemaker tallies its plane orders for 2010, but will not enter the order book in time to decide whether Airbus will come from behind to win a fiercely contested annual battle for most sales against Chicago-based Boeing. Get the full story »
Jan. 6 at 9:24 a.m.
Filed under:
Airplanes,
Defense,
Updated
By Julie Johnsson
Boeing Co. notched 530 net commercial aircraft orders and delivered 462 airplanes during 2010 as the commercial aerospace market continued to rebound along with the global economy.
The Chicago-based aerospace company saw an improvement in its key commercial airplane business, which accounts for more than half of Boeing’s revenues, despite continued problems with its 787 and 747-8 aircraft programs.
Aircraft sales rebounded strongly from 2009, when Boeing gained just 142 net orders and scrambled to help airline customers obtain financing and to prevent them from canceling orders. Get the full story »
Jan. 3 at 8:02 a.m.
Filed under:
Airplanes,
Defense
By Dow Jones Newswires
Financial-services firm JPMorgan upgraded Boeing Co. on Monday to overweight from neutral, saying the manufacturer’s stock price likely reflects the risk in its military business and 787 Dreamliner development program. Get the full story »
Dec. 22, 2010 at 5:58 a.m.
Filed under:
Defense,
Earnings
By Reuters
Navistar International Corp. reported lower quarterly earnings Wednesday, pulled down by employee termination costs from its new union contract. Get the full story »
By Dow Jones Newswires
Boeing Co. said it won a contract valued at about $1 billion to build a communication-satellite system for Mexico’s government that will be used for national-security and civil-communications needs.
The system will consist of three satellites, two ground sites and related network operations systems and other equipment. Get the full story »
Dec. 15, 2010 at 5:53 p.m.
Filed under:
Defense,
Government
By Reuters
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 »
Dec. 2, 2010 at 6:31 a.m.
Filed under:
Airplanes,
Defense
By Dow Jones Newswires
The defense arm of Boeing Co. is expecting a lackluster year followed by a modest pickup in 2012, the head of the unit said Wednesday. Get the full story »
Bloomberg | Chicago-based Boeing Co. and European Aeronautic, Defense and Space Co. shouldn’t see any significant fallout from a “clerical error” releasing some data on their bids for a $35 billion aerial tanker program, the Defense Department said. The Air Force disclosed Nov. 19 that the service mistakenly provided Boeing and EADS with “a limited amount” of data on the offers that are now under government review.
Nov. 4, 2010 at 2:56 p.m.
Filed under:
Airlines,
Airplanes,
Defense,
Manufacturing
By Reuters
Boeing Co. said on Thursday it took a new order for eight 777s, potentially worth $2.7 billion, from BOC Aviation in the week ended Nov. 2.
The company, which competes with Airbus for commercial plane sales, also identified Russian Technologies as the buyer behind an order for 50 737s. The buyer was previously listed as unidentified. Get the full story »
