"Defense and aerospace investments don't just keep us safe -- they provide the aerospace primacy so evident in the missions on Osama bin Laden and Libya -- but they spur perhaps more innovation than any other spending," writes Marion Blakey, president and CEO of the Aerospace Industries. And there is bipartisan agreement that across-the-board sequestration cuts to aerospace and defense "would devastate our capabilities," she writes.
United Technologies saw its first-quarter income from continuing operations climb 19%, beating Wall Street expectations, though its revenue for the quarter declined. The company reported quarterly net income of $1.2 billion, or $1.31 a share, not including units that the firm has up for sale. Those results compare with $1.05 billion, or $1.06 a share, on operations a year ago. Revenue at the firm was $12.42 billion in the first quarter, down 2% from a year ago, primarily due to the costs of restructuring the firm.
The Defense Department said the U.S. is nearly finished with rulemaking that will govern how it shares information on cyberthreats with a longer list of defense contractors. The government shares information now with 37 companies, but that list would expand to 200.
Some 173 members of the House of Representatives have signed a letter pushing for increased funding for the M1 Abrams tank. The Army has said it plans to finish tank purchases in 2014 and not upgrade its fleet until 2017, but lawmakers are pushing for expansion of the program.
Job fairs for Security-Cleared professionals this May! The leading Defense, Government & IT employers are hiring May 9th Baltimore, MD May 15th McLean, VA & May 22nd Ft. Lee, VA. Positions available in Cyber Security, IT, Engineering, Aerospace, Telecom, Intelligence & more! Active Security Clearance required. Event details.
Boeing is evaluating its facility in Everett, Wash., for construction of wings for the 777X. "Boeing is actively looking at multiple scenarios for expanding the Everett site to accommodate the building of the new jet," said a source. The carbon-fiber-reinforced plastic composite wings would be the largest wings ever made.
United Technologies says there are no plans to restart the manufacturing of the Eclipse very light jet. "We're not investing any more money in Eclipse," said Chief Financial Officer Greg Hayes. "We are not in the light jet business."
Cybersecurity skills are in high demand in the aerospace industry -- particularly among companies that supply technology to the U.S. military -- but with a shortage of dedicated college programs focused on network security, companies are forced to get creative to find talent. Northrop Grumman and Boeing each sponsor competitions designed to find the best, while the Air Force Institute of Technology has set up classes to teach offensive and defensive cyberwarfare techniques. "It really is such a relatively new profession that the academic environment is trying to catch up," said Diane Miller of Northrop Grumman.
Boeing is planning to launch a transport to carry astronauts to the International Space Station by 2015 or 2016, the company says. Initially at least, the CST-100 capsule will launch from United Launch Alliance's Atlas 5 rocket.
During a recent television interview, former Transportation Security Administration Administrator Kip Hawley reiterated his view that the nation's current airport security strategies do not work. He noted that terror groups work around security measures. "The problem at TSA is that each brick that?s been put up has been put up in a wall and stays there even after the vulnerabilities they address have been closed," he said.
AIA Compensation Practices Committee Spring meeting
The AIA Compensation Practices Committee is comprised of professionals specializing in executive and companywide compensation and benefits. The CPC Spring meeting is scheduled for June 27 and 28 and will be held at the Hilton Austin, in Austin, Texas. If you have been designated as your company's representative or if your company is interested in attending the meetings, please contact Brian Crowley at 703.358.1035 or email@example.com.
AIA member spotlight: W.G. Henschen Co.
W.G. Henschen Co. distributes aerospace hardware and fittings. W.G. Henschen has been historically recognized throughout the aerospace industry for its ring-locked product line. With its growth and expertise, W.G. Henschen has broadened to support helicopter operations, as well as all of the major OEMs either directly or through their supply chain. See full list of AIA member companies.