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| AIA dailyLead® |
| May 2, 2012 |
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Bill introduced that would stop military sequestration cuts
A bill offered by House Budget Committee Chairman Paul Ryan, R-Wis., would begin the process of undoing the mandatory sequestration cuts faced by the military in 2013. The Sequester Replacement Act, H.R. 4966, would replace language in the in the Budget Control Act that calls for the automatic across-the-board cuts. The Hill/Floor Action Blog (5/1)
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New Lockheed CEO: Reduced military spending may mean more defense mergers
Cuts to U.S. military spending and a shrinking in European defense budgets will likely spur mergers in the defense industry, said Christopher Kubasik, who is to be Lockheed's next CEO. Such merger-and-acquisition activity "would absolutely be a scenario. It would not surprise me," Kubasik said. The Wall Street Journal (5/1)
Restoring Air Force cuts means more money needed, Schwartz warns
If Congress is intent on restoring planned cuts to the Air Force's aircraft programs, it must provide the funds needed to support them, said Air Force Chief of Staff Gen. Norton Schwartz. Schwartz, speaking Tuesday, said, "If you give us force structure back, give us the money, too, because the quickest way I know to a hollow force is to give us structure and no money." The Hill/DEFCON Hill blog (5/1)
Some pilots request not to fly F-22 Raptors
A small number of pilots are worried about unexplained hypoxia problems that have plagued the F-22 Raptor plane and have asked not to fly them, according to the head of Air Combat Command, Gen. Mike Hostage. The fleet was grounded during a search for the problem's cause but since has been redeployed, Hostage said. Defense News (5/1)
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Bombardier secures WestJet order for new regional service
Canada's WestJet announced it has signed a deal to buy 20 Bombardier Q400 Next Gen turboprop planes for its new regional service, with an option to buy 25 more. WestJet plans to launch the service in the second half of next year. The Wall Street Journal (5/1) USA Today/Today In The Sky blog (5/1)
Hawker Beechcraft 10-K form shows $2.3B of debt
Hawker Beechcraft filed a 10-K form with the Securities and Exchange Commission last month, which reveals the aircraft manufacturer has more than $2.3 billion in debt. CEO Steve Miller said the 10-K shows "the combined effect of the prolonged weakness in our market that has continued to affect our business and the heavy debt burden the company has operated under since 2007." AIN Online (5/1)
Other News
Connecticut youth rocket team heads to national finals
A group of students in Manchester, Conn., will head to the Washington, D.C., area May 12 to compete in the Team America Rocketry Challenge National Finals. The seventh- to 10th-graders from the First Baptist Church of Manchester's youth group were the only Connecticut team to qualify. "TARC is a great way for students to get real aerospace engineering experience, and it's also a lot of fun," said Marion Blakey, president and CEO of the Aerospace Industries Association, one of the competition's key sponsors. Patch.com/Manchester, Conn. (4/28)
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Flat NASA research budget hurts defense, Blakey says
A no-growth budget for NASA research and development stymies the Defense Department's hypersonic research, which NASA helps fund, experts say. Combined with possible sequestration cuts, the flat budget is "an extremely bleak picture," said Marion Blakey, chair of the aeronautics committee on the NASA Advisory Council and president and CEO of the Aerospace Industries Association. Blakey testified before the House Science, Space and Technology space and aeronautics subcommittee last week. FierceGovernmentIT (5/1)
Atlas V launch set for May 3
United Launch Alliance is readying the Atlas V rocket for a launch Thursday at Cape Canaveral. The rocket will carry a military satellite capable of transmitting secure communications even during nuclear war. Florida Today (Melbourne) (tiered subscription model) (4/30)
AIA member spotlight: Etezazi Industries, Inc.
Recently joining AIA as an associate member, Etezazi Industries, Inc. designs and manufactures machine parts and sheet metals as well as full assembly for the aerospace industry. See full list of AIA member companies.
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 brian.crowley@aia-aerospace.org.
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