Raytheon Standard Missile-6 Completes Key Developmental Test

WHITE SANDS, N.M., Aug. 28, 2009 /PRNewswire/ -- Raytheon Company's (NYSE: RTN - News) Standard Missile-6 has completed tests which validate the extended-range anti-air warfare missile's airframe and autopilot performance.
By performing a series of preprogrammed maneuvers, the SM-6 missile was pushed to the limits of its performance, allowing the U.S. Navy to gather vital simulation validation data.
"The technology that was proven in this test will provide the Navy with the weapon system it needs for outer and area defense to defeat current and future missile threats," said Louis Moncada, Raytheon Missile Systems' director of the SM-6 program. "This control test vehicle launch is the fourth test of the SM-6 following two guided test vehicle launches in 2008 and the recent advanced area defense interceptor test in May."
SM-6 takes full advantage of the legacy Standard Missile airframe and propulsion elements, while incorporating advanced signal processing and guidance control capabilities of Raytheon's Advanced Medium-Range Air-to-Air Missile. This merger of these two proven technologies allows SM-6 to use both active and semiactive modes.
"The SM-6 program remains on budget and on schedule," said Kirk Johnson, the Navy's Standard Missile program director. "The weapon system provides advanced capabilities across the entire threat spectrum. The SM-6 will greatly enhance our fleet defense."
Raytheon Company, with 2008 sales of $23.2 billion, is a technology and innovation leader specializing in defense, homeland security and other government markets throughout the world. With a history of innovation spanning 87 years, Raytheon provides state-of-the-art electronics, mission systems integration and other capabilities in the areas of sensing; effects; and command, control, communications and intelligence systems, as well as a broad range of mission support services. With headquarters in Waltham, Mass., Raytheon employs 73,000 people worldwide.

General Dynamics President and CEO Johnson to Speak at Investor Conference

FALLS CHURCH, Va., Aug. 28 /PRNewswire-FirstCall/ -- General Dynamics (NYSE: GD - News) President and Chief Executive Officer Jay L. Johnson will speak at the Morgan Stanley Global Industrials Unplugged Conference in New York on Wednesday, September 2, at 8:45 a.m. ET.
General Dynamics will provide a live webcast of the presentation via A replay will be available shortly after the live presentation.
General Dynamics, headquartered in Falls Church, Va., employs approximately 92,000 people worldwide. The company is a market leader in business aviation; land and expeditionary combat systems, armaments and munitions; shipbuilding and marine systems; and information systems and technologies. More information about the company is available on the Internet at www.generaldynamics.com/

Goodyear Celebrates 111 Years of Innovation

AKRON, Ohio, Aug. 28 /PRNewswire-FirstCall/ -- In celebration of The Goodyear Tire & Rubber Company's 111th anniversary, the company is recognizing its most significant moments in history with a compilation of "Goodyear's top 111 innovations, inspirations and historic firsts."
The list reflects Goodyear's pioneering spirit of innovation throughout the years, which has been felt across the earth, the skies and even the moon.
"Innovation is what has made Goodyear what it is today," said Jean-Claude Kihn, Goodyear's senior vice president and chief technical officer. "Not only is innovation an important part of our past, but it's even more so our goal for the future."
More than a century of innovation has secured Goodyear's place in history. Some of the company's most memorable contributions include:
*1901: Goodyear adopts the wingfoot trademark, saying it will help Goodyear circle the Earth.
*1908: Goodyear develops the All-Weather tread design. The diamond-shaped studded pattern would be used for more than 40 years with only minor modifications and become a well-known symbol of Goodyear tire quality.
*1918: The Wingfoot Express makes the first cross-country trucking journey from Boston to San Francisco, demonstrating the toughness and reliability of Goodyear tires. It was also the first truck to feature a sleeper cab.
*1920: Goodyear Hall (a center containing an auditorium, classrooms, recreational facilities and the state's largest gymnasium at the time) is constructed in Akron, Ohio. A dream of future CEO P.W. Litchfield, the center made Goodyear a pioneer of employee wellness and education.
*1925: Goodyear's first commercial blimp, the Pilgrim, debuts. The airship is 50,000 cubic feet and is the first non-rigid craft to use helium.
*1947: Goodyear establishes one of the earliest industrial programs to encourage protection of the environment, the Goodyear Conservation Awards recognizing resource management. In 1973, Keep America Beautiful Inc. would select Goodyear's environmental improvement program as the nation's best.
*1963: The Orange Bowl becomes the first live sporting event to be nationally broadcast to television from a Goodyear blimp.
*1970: Goodyear tires land on the moon as part of the Apollo 14 mission.
*1977: Goodyear introduces the Tiempo, the first tire designed for year-round use in all climates. The Tiempo would become the most successful tire in company history, selling 3.5 million in the first year.
*1991: Goodyear launches the Aquatred, which would become the most award-winning tire in industry history. With its unique, deep-groove aquachannel, the tire set new standards for wet traction and changed the way drivers think about new tires.
*2009: Goodyear Assurance Fuel Max tires help save consumers gas money by reducing rolling resistance compared to the Goodyear Assurance.
For the entire list of Goodyear's 111 innovations, including historic photos and videos, visit Goodyear was founded Aug. 29, 1898 by Frank Seiberling in Akron, Ohio.
Goodyear is one of the world's largest tire companies. It employs nearly 70,000 people and manufactures its products in more than 60 facilities in 25 countries around the world. Its two Innovation Centers in Akron, Ohio and Colmar-Berg, Luxembourg strive to develop state-of-the-art products and services that set the technology and performance standard for the industry.

Harris Corporation Increases Quarterly Dividend 10 Percent to 22 Cents Per Share

MELBOURNE, Fla., Aug. 28 /PRNewswire-FirstCall/ -- The Board of Directors of Harris Corporation (NYSE: HRS - News), an international communications and information technology company, has increased the quarterly cash dividend to 22 cents per share, compared to the previous quarterly dividend of 20 cents per share. This dividend is payable September 18, 2009, to shareholders of record September 9, 2009. The annual dividend rate will increase from 80 cents per share to 88 cents per share.
"We are very pleased to announce this increase in our quarterly dividend," said Howard L. Lance, chairman, president, and CEO. "Harris achieved excellent financial performance in fiscal 2009, with strong revenue, earnings, and cash flow. As we reported August 12, 2009, new contract wins, improving order rates, and a solid pipeline of additional opportunities provide us with increased confidence in our outlook for fiscal 2010. This dividend increase further demonstrates the company's ongoing commitment to increasing shareholder value."
About Harris Corporation
Harris is an international communications and information technology company serving government and commercial markets in more than 150 countries. Headquartered in Melbourne, Florida, the company has approximately $5 billion of annual revenue and more than 15,000 employees -- including nearly 7,000 engineers and scientists. Harris is dedicated to developing best-in-class assured communications® products, systems, and services. Additional information about Harris Corporation is available at www.harris.com.
Forward-Looking Statements
This press release contains forward-looking statements that reflect management's current expectations, assumptions and estimates of future performance and economic conditions. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The company cautions investors that any forward-looking statements are subject to risks and uncertainties that may cause actual results and future trends to differ materially from those matters expressed in or implied by such forward-looking statements. Statements about our outlook are forward-looking and involve risks and uncertainties. Other factors that may impact the company's results and forward-looking statement may be disclosed in the company's filings with the SEC. Harris disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Marine Veteran, IT Expert Douglas R. Lopez to Head Tidewater Operations for Engineering Services Network (ESN)

ARLINGTON, Va., Aug. 28 /PRNewswire/ -- ESN, a trusted leader in engineering and technology solutions, announced today that Douglas R. Lopez has been promoted to director of ESN's Virginia Tidewater Operations.
"Doug Lopez' engineering and technical expertise will serve ESN's customers well in the Tidewater region," said Raymond F. Lopez Jr., President and CEO of ESN, a service-disabled, veteran-owned company.
ESN is an engineering, IT and business consulting company based in Arlington, VA, that specializes in military and government contracts.
Douglas Lopez began his career at ESN as a senior systems analyst in IT, providing advanced engineering design for Asynchronous Transfer Mode (ATM) IT-21 LANs and Blown Optical Fiber Plant (BOFP) installations. He is an expert CNAL/CNAF networks manager, with a background in LAN/WAN engineering, design, support and configuration management for the U.S. Navy.
Lopez helped ESN in supporting various customers' information technology modernization initiatives to include Commander, Naval Air Forces and Commander, Naval Network Warfare Command. Lopez then was transferred to support those commands as program manager of COMNAVAIRFOR (East) and COMNAVNETWARCOM.
Lopez' promotion is among several personnel advancements at ESN.
-- Paul Barber has been promoted to senior vice president of operations, from Southeast Region manager (in the Tidewater VA area).
-- Kurt Hampe replaces Barber as vice president, director of the Southeast Region (VA Tidewater area).
-- Gregg Schneider will serve as acting director of Charleston SC Operations, with Shane Partridge serving as Charleston technical director.
Lopez is a veteran who served in the U.S. Marines Corps. His enlistment was up in 1994. Before joining ESN in 1998, he was on the management team of both 3Com Corp. and USRobotics where he helped execute the 56K modem line. In addition, he also was a quality engineer and inspector at USRobotics, where he was responsible for numerous product deployments in the IT industry.
Lopez and his wife, Stephanie Lopez, reside in Virginia Beach. She works at Bishop Sullivan Catholic High School in Virginia Beach, VA. They have two sons, Ryan, 17, and Brett, 11.
ESN (Engineering Services Network, Inc.) is a trusted leader in engineering and technology solutions. For more than a decade, we have been proudly standing shoulder to shoulder with our military and government customers, delivering critical services for missions that matter. ESN provides services in five key areas: engineering and technical support; strategic and program management; testing and evaluation; operations support; and information technology.
Based in Arlington, VA, ESN has regional and field offices throughout the U.S. and worldwide. Founded in 1995, ESN has achieved ISO 9001:2000 certification. ESN customers include the U.S. Navy, U.S. Army, U.S. Air Force, U.S. Marine Corps, Military Sealift Command, Department of Health and Human Services and other federal agencies. ESN is a service-disabled veteran-owned small business (SDVOSB). For more information, please visit ESN at esncc.com.

Concurrent Technologies Corporation Awarded Competitively-Bid Armament, Research, Development, and Engineering Center Contract

JOHNSTOWN, Pa., Aug. 28 /PRNewswire/ -- Concurrent Technologies Corporation (CTC) recently won a competitively-bid contract to participate in the support of the Army Armament, Research, Development, and Engineering Center (ARDEC) Rapid Prototyping and Technology Initiative (RPTI) Program. The contract is a multi-award (i.e., four other companies won contracts) Indefinite Delivery Indefinite Quantity (IDIQ) contract valued at $300 million over five years. The ARDEC RPTI program is intended to assist ARDEC's mission to rapidly respond to the warfighter's need for armament-related products and services.
The CTC Team consists of CTC and thirty-one other companies including large businesses, small businesses, small disadvantaged businesses, and universities. CTC Team members in Western Pennsylvania include Enterprise Ventures Corporation (EVC), Catalyst Connection, DSN Innovation, Dynacom, Penn State Electro-Optics Center, and Gautier Steel. This contract provides the CTC Team with the opportunity to bid on Cost Plus Fixed Fee (CPFF) and Firm Fixed Price (FFP) orders for the processing, supply, and development of armament-related materials, equipment, processes, and products.
Headquartered at Picatinny, New Jersey, the ARDEC is the Army's principal researcher, developer, and sustainer of current and future armament and munitions systems. ARDEC's overall mission is to improve already fielded items, develop new ones, maintain a strong armament technology base in government, industry and academia and provide technical support to the Soldier in the field. In this way, the Center achieves its vision of "Innovative Armaments Solutions for Today and Tomorrow."
According to Edward J. Sheehan, Jr., CTC's President & Chief Executive Officer, "Since this is a multiple award IDIQ contract, task orders and delivery orders will be competed among the prime contractors. Our efforts will be managed by a virtual Program Management Office with personnel at several locations: Picatinny Arsenal, New Jersey; Pittsburgh, Pennsylvania; Johnstown, Pennsylvania; and Fort Leonard Wood, Missouri." Sheehan added, "Being selected as one of the prime contractors for the ARDEC RPTI contract is a significant accomplishment for CTC and our teammates, and it signifies CTC's reputation of providing quality products and services to our clients. With our team's extensive experience, we look forward to making considerable contributions through this contract."
CTC's Gary Wallace will be the Program Manager for the new ARDEC contract. About the new contract, he said, "The most rewarding aspect of this award for me is that this contract is intended to increase ARDEC's responsiveness to meet the Soldier's immediate field requirements. Having the opportunity to help make Soldiers more effective or keep them safe in the field is a way we can serve our military men and women who selflessly serve our nation every day."
CTC is an independent, nonprofit, applied scientific research and development professional services organization providing innovative management and technology-based solutions to government and industry. As a nonprofit 501(c)(3) organization, CTC's primary purpose and programs are to undertake applied scientific research and development activities that serve the public interest. For more information, visit www.ctc.com.

Lucintel Webinar on "Opportunities and Competitiveness of Indian Composites Market" on September 18th, 2009

DALLAS--August 28, 2009, (BUSINESS WIRE)--The Indian composites industry is growing at a rapid pace and is expecting double digit growth rates in the next 4-5 years. Many segments are demonstrating strong growth potential with multiple business opportunities across the composites supply chain. For instance, India has made remarkable progress in wind energy where composites consumption has exceeded even that of Japan. The Indian composites industry has a strong manufacturing base and proven expertise in R& D and technology development poising it for continued breakout growth rates.
Lucintel is organizing a webinar on “Opportunities and Competitiveness of Indian Composites Market” scheduled on 18th Sep-2009 to further probe the market opportunities in India including market sustainability, new materials, improved mechanized processes, quality management and new innovations.
A panel of eminent speakers will detail various dimensions of the Indian composites industry. SM Kapoor, CEO, Taneja Aerospace will focus on the role of medium scale industry in the growth of Indian aerospace industry, Sajal Ghosh, GM, Tata Autocomp, will highlight opportunities and competitiveness in the automotive sector, SM Vaidya, Sr. Vice President of Godrej Aerospace will discuss scenarios and future composites potential in Indian aerospace market. Ajit Lele and Hiten Ghelani, Managing Director & General Manager of Mahindra Composites will discuss on the Opportunities for the overall Indian Composites Marketplace while Projjal Roy, Director for Lucintel India, will address “Investment opportunities in the Indian Composites Market.”
The availability of inexpensive human resources and investor friendly policies is facilitating significant opportunities for global player for their expansion and investment programs. Many global companies such as Dupont, DSM, Sabic, Amiantit, Pentair, Vestas, LM and Enercon have already entered the Indian composites market and established strong manufacturing bases to cater to the domestic and export markets. Strong R&D investments are being made to improve productivity and quality to meet the increasing demands of local as well as export markets.
The webinar will provide valuable understanding to engineers, managers, senior executives, investors, sales and marketing executives of the composites world. Be sure to take advantage of early bird registration before September 5th and to learn more about this webinar and to register kindly click on the following link:
http://www.lucintel.com/Webinar/webinar-india-2009.pdf. For registration, sponsorship and group discount, please contact Event Manager: Tushita Roy at tushita.roy@lucintel.com.

ATK Demonstrates Integrated Weapon Systems Capability at Ft. Benning

*Live-Fire Event Featured Advanced Medium Caliber Systems on Ground Combat Vehicles

MINNEAPOLIS, Aug. 28 /PRNewswire-FirstCall/ -- Alliant Techsystems (NYSE: ATK - News) demonstrated its innovative firepower capabilities at the U.S. Army's Ft. Benning Red Cloud Range, on August 27, 2009. During the live-fire event, ATK demonstrated advancements to its battle-proven Bushmaster Chain Gun systems, on a variety of platforms, with enhanced precision, lethality, reliability, and range to address current and future operational needs.

ATK is a leader in integrated weapon systems capabilities that include remote-operation, electronics and fire control, and compatibility with a full-suite of ATK ammunition, including a compatible Programmable Airburst Munition (PABM) that extends operational effectiveness.
During the event, ATK fired four cannons in the following live-fire configurations:
*Lightweight 25mm Bushmaster Chain Gun (LW25) integrated into a Kongsberg mount on a Textron MSV
*LW25 integrated into a Palletized Autonomous Weapon System (PAWS), mounted onto a HMMWV
*30mm M230 Link Fed (LF) integrated into the Viper Gun System (Viper)
*30mm/40mm Mk44 Bushmaster Chain Gun with PABM
The LW25 is the newest member of the Bushmaster family; its compact size and low-recoil design makes the LW25 ideally suited for ground combat, surface combatant, and rotary-wing applications. The system is also compatible with the current family of remote weapon stations employed on Stryker, Bradley, HMMWV and MRAP vehicles. The LW25 system enhances operational flexibility and performance in a light-weight integrated armaments package.
PAWS is a self-contained Palletized Autonomous Weapons System that is user scalable to specific mission requirements. PAWS is designed to accommodate most small- and medium-caliber weapons and can be mounted on a wide range of vehicles, or deployed autonomously to satisfy a range of security needs. PAWS' remote weapon station also contains a self-contained sensor package and power supply.
The 30mm M230 Bushmaster Chain Gun has served as the sole gun system for the AH-64 Apache Helicopter for more than 30 years. The link-fed (LF) variant, combined with the M789 high-explosive, dual-purpose (HEDP) round, brings the Apache's devastating firepower to platforms of all kinds and can be remotely operated or fired in a crew-served configuration.
Viper, developed collaboratively between ATK and Nobles Manufacturing, Inc., is an affordable "plug and play" weapon station that incorporates a patent-pending Gun Mount Braking System (GMBS), which allows for superior weapon stabilization during firing. Viper can be installed on multiple platforms and incorporates a flex chute and ammunition magazine into a compact and versatile weapons platform while offering economy and agility to meet the security needs of U.S. and international customers.
The Mk44 Bushmaster Chain Gun is the U.S. Marine Corps' weapon of choice for its Expeditionary Fighting Vehicle (EFV). The Mk44 increases firepower and range of 25mm systems and is designed for remote operation. This chain gun is in production and in service on various international ground combat and surface combatant platforms.
The Mk44 fires the only type-classified PABM in the U.S. arsenal. This revolutionary new round can be programmed by the fire control system to function in either point detonate, point detonate delay, or air burst modes, defeating targets on contact or in defilade. ATK's airburst technology will also be available for the company's new LW25 chain gun.
ATK is a premier aerospace and defense company with more than 18,000 employees in 22 states, Puerto Rico and internationally, and revenues of approximately $4.8 billion.
Certain information discussed in this press release constitutes forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Although ATK believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be achieved. Forward-looking information is subject to certain risks, trends and uncertainties that could cause actual results to differ materially from those projected. Among those factors are: the applicability of Bushmaster Chain Gun systems to address future military operational needs, changes in governmental spending, budgetary policies and product sourcing strategies; the company's competitive environment; the terms and timing of awards and contracts; and economic conditions. ATK undertakes no obligation to update any forward-looking statements. For further information on factors that could impact ATK, and statements contained herein, please refer to ATK's most recent Annual Report on Form 10-K and any subsequent quarterly reports on Form 10-Q and current reports on Form 8-K filed with the U.S. Securities and Exchange Commission.

Spirit Chief Executive Jeff Turner Speaking at Morgan Stanley Global Industrials CEOs Unplugged Conference

WICHITA, Kan., Aug. 28 /PRNewswire-FirstCall/ -- Spirit AeroSystems, Inc. (NYSE: SPR - News) President and Chief Executive Officer, Jeff Turner, will speak at the Morgan Stanley Global Industrials CEOs Unplugged Conference in New York City, N.Y., at approximately 11:45 a.m. Eastern time on Wednesday, Sept. 2, 2009.
Mr. Turner's remarks will be webcast and presentation materials will be available at http://www.spiritaero.com/investor.aspx.
Individuals are urged to check the web site in advance to ensure their computers are configured for the webcast.
On the web: http://www.spiritaero.com
About Spirit AeroSystems Inc.
Based in Wichita, Kan., Spirit AeroSystems is the world's largest independent supplier of commercial airplane assemblies and components. In addition to its Kansas facility, Spirit has locations in Tulsa and McAlester, Okla., Prestwick, Scotland, and Samlesbury, England, and is developing new manufacturing facilities in North Carolina and Malaysia. In the U.S., Spirit's core products include fuselages, pylons, nacelles and wing components. Additionally, Spirit provides aftermarket customer support services, including spare parts, maintenance/repair/overhaul, and fleet support services in North America, Europe and Asia. Spirit Europe produces wing components for a host of customers, including Airbus.

Quality Controlled Manufacturing Inc. Awarded United Technologies Corp. Supplier Gold Status

SAN DIEGO, Aug. 28 /PRNewswire/ -- Quality Controlled Manufacturing Inc. (QCMI) has received Supplier Gold status, a prestigious honor from United Technologies Corp. (UTC) and its subsidiary Hamilton Sundstrand.
UTC's Supplier Gold status recognizes suppliers for exceptional performance for at least 12 consecutive months. For a UTC supplier to be awarded Supplier Gold status, it must meet stringent requirements for quality, delivery, lean practices and customer satisfaction.
In achieving UTC Supplier Gold status, QCMI joins an elite group from multiple industries who supply UTC businesses.
"Supplier Gold is a tremendous privilege and responsibility," said Bob Grande, QCMI president and CEO. "It's crucial we continue to use lean principles and 6Sigma methods to retain Supplier Gold status. Our ongoing focus is on achieving maximum value by eliminating waste in all processes while reducing cycle times to meet market demands."
"Having QCMI achieve Supplier Gold is a great demonstration of teamwork between UTC and QCMI to provide outstanding supply chain performance to our valuable customers," said Dennis Mayhew, Hamilton Sundstrand Supply Chain Commodity manager. "Congratulations to everyone at QCMI for their effort in meeting and sustaining such high levels of customer service."
About Quality Controlled Manufacturing Inc. (QCMI)
Emerging as one of nation's leaders in complex machined components and assemblies, QCMI was founded by Bob Grande in 1978. The San Diego County manufacturing firm has two facilities totaling over 78,000 sq. ft. and employs 52. QCMI is ISO9001/AS9100 registered and Nadcap accredited. Award-winning QCMI specializes in the precision machining of all metals including exotic alloys. QCMI services provide customers with components that have complex shapes, contours, exacting tolerances and stringent quality requirements. Services include: CNC turning, milling and grinding; conventional machining; welding; EDM; fabrication; inspection; and non-destructive testing (NDT). Bob Grande, owner of Quality Controlled Manufacturing, has been a member of Vistage International, the world's leading chief executive organization since 2005. For more information about QCMI visit http://www.qcmfginc.com.
About Hamilton Sundstrand
With 2008 revenues of $6.2 billion, Hamilton Sundstrand is headquartered in Windsor Locks, Conn. Among the world's largest suppliers of technologically advanced aerospace and industrial products, the company designs, manufactures and services aerospace systems and provides integrated system solutions for commercial, regional, corporate and military aircraft. It also is a major supplier for international space programs. For more information on Hamilton Sundstrand, please visit http://www.hamiltonsundstrand.com.
About United Technologies Corp.
Based in Hartford, Conn., United Technologies Corp. is a diversified company that provides high technology products and services to the building and aerospace industries.
Contact: Doug Grande
Corporate Communications
Quality Controlled Manufacturing Inc.
(619) 980-0387
dgrande@qcmfginc.com
This release was issued through eReleases(TM). For more information, visit http://www.ereleases.com.

Gates to tour Lockheed F-35 fighter plant

WASHINGTON, Aug 28 (Reuters) - U.S. Defense Secretary Robert Gates will visit a Lockheed Martin Corp (LMT.N) production plant for the F-35 fighter aircraft, the Pentagon's costliest arms purchase program, and an L-3 aircraft facility, highlighting their importance to the U.S. Defense Department, a Pentagon spokesman said on Thursday. Gates, on his way back from vacation on Monday, will speak to reporters at the Lockheed plant in Fort Worth, Texas, and then pay a visit to an L-3 Communications Holdings Inc (LLL.N) plant that turns out so-called Project Liberty reconnaissance aircraft in Greenville, Texas.
"These are two very important aviation programs to the Department of Defense," said Bryan Whitman, a Pentagon spokesman.
The visit comes amid mounting speculation the Pentagon might have to scale back the F-35 as part of stepped-up budget belt-tightening.
For instance, the private Center for Strategic and Budgetary Assessments -- several of whose one-time experts are now serving in senior Obama administration jobs -- cited the F-35 as just one example of programs ripe for review by the Department of Defense during a once every four years top-to- bottom reassessment now under way.
"Rather than buying both new long-range bombers and thousands of short-range F-35 fighters, DoD might consider whether the new bombers ... could represent a cost-effective substitute for some number of these new fighters," the center's Todd Harrison wrote in a report released this month.
Lockheed is developing three radar-evading F-35 models to replace at least 13 types of aircraft for 11 nations initially. At a projected cost of about $300 billion over two decades, the United States currently plans to buy 2,443 F-35s for the Air Force, Navy and Marine Corps.
Eight countries are F-35 co-development partners: Britain, Canada, Italy, Denmark, Netherlands, Norway, Turkey and Australia.
Northrop Grumman Corp (NOC.N) and BAE Systems Plc (BAES.L) are Lockheed's chief F-35 sub-contractors. Two separate, interchangeable F-35 engines are under development. One is built by United Technologies Corp's (UTX.N) Pratt & Whitney unit. The other by a team of General Electric Co (GE.N) and Rolls-Royce Group Plc (RR.L). (Reporting by Jim Wolf; editing by Andre Grenon)

Wall St gains as oil jumps; Boeing leads Dow

NEW YORK August 28, 2009, 7:17 am EDT (Reuters) - U.S. stocks closed higher on Thursday as investors turned back an early sell-off, thanks to a rebound in oil prices.
The Dow posted its eighth straight gain, led by Boeing Co (NYSE:BA - News), which rose 8.4 percent to $51.82. The U.S. aircraft manufacturer said its long-delayed 787 Dreamliner would make its first flight by the end of the year.
For the first three days of the week, stocks rose early and fell later, but the pattern reversed on Thursday as shares built momentum throughout the session in tandem with assets identified with improved demand, such as crude oil.
U.S. front-month crude oil prices rose $1.06 to settle at $72.49 a barrel, after dipping as low as $69.83 earlier in the day.
"The market turned around when oil took off," said Dave Rovelli, managing director of U.S. equity trading at Canaccord Adams in New York.
"Energy stocks were getting hit, and when they took off, the energy stock rally brought the whole market up."
ConocoPhillips (NYSE:COP - News) ended up 0.3 percent at $45.73.
The Dow Jones industrial average (DJI:^DJI - News) gained 37.11 points, or 0.39 percent, to end at 9,580.63. The Standard & Poor's 500 Index (^SPX - News) added 2.86 points, or 0.28 percent, to 1,030.98. The Nasdaq Composite Index (Nasdaq:^IXIC - News) rose 3.30 points, or 0.16 percent, to 2,027.73.
Once again, trading was dominated by a handful of troubled financial companies. The stock of bailed-out insurer American International Group Inc (NYSE:AIG - News) surged nearly 27 percent to $47.84 after the new chief executive, Robert Benmosche, told Reuters on Wednesday he did not favor a fire sale of its assets.
AIG's new CEO also said in the interview that in a year, people will say the company is performing well.
AIG's stock price has spiked since the beginning of August in a rally initially spurred by the insurance giant posting its first profit in seven quarters. Analysts have also cited a short squeeze as contributing to the run-up as short investors have given up on bearish bets.
According to data from the New York Stock Exchange, short interest in AIG fell 2 percent in the first half of August, compared with the end of July. About 18 percent of the stock is held short.
Citigroup Inc (NYSE:C - News) also jumped 9.1 percent to $5.05 on a report that hedge-fund manager John Paulson is buying the troubled bank's shares.
An S&P index of financial shares gained 1 percent to 197.83.
Dell Inc (NasdaqGS:DELL - News) was one of the Nasdaq's top gainers, up 6.7 percent at $15.65 after reporting better-than-expected profit and sales just before the market closed.
Analysts have pointed to light summer volume and caution over a potential pullback as the reason for the market's lackluster performance this week.
Adding to that caution are concerns that an economic recovery may end up being weaker or slower than originally anticipated. Expectations of a recovery have fueled a months-long rally that has pushed the S&P 500 up more than 50 percent from March's 12-year closing low.
Volume was light on the New York Stock Exchange, with 1.16 billion shares changing hands, below last year's estimated daily average of 1.49 billion. On the Nasdaq, about 2.16 billion shares traded, also below last year's daily average of 2.28 billion.
Advancing stocks outnumbered declining ones on the NYSE by a ratio of roughly 8 to 7.
On the Nasdaq, though, the opposite trend held sway: About 14 stocks fell for every 13 that rose.

CORRECTING and REPLACING Oshkosh Defense Selected to Produce U.S. Army's FMTV, Receives First Delivery Order for $280.9 Million

OSHKOSH, Wis.-- August 28, 2009, 6:28 pm EDT (BUSINESS WIRE)--Third graph, first sentence of release should read: The FMTV rebuy program is a five-year requirements contract award for the production of up to 23,000 vehicles and trailers as well as support services and engineering (sted The FMTV rebuy program is a five-year, indefinite delivery/indefinite quantity (IDIQ) contract award for the production of up to 23,000 vehicles and trailers as well as support services and engineering). The corrected release reads:
OSHKOSH DEFENSE SELECTED TO PRODUCE U.S. ARMY’S FMTV, RECEIVES FIRST DELIVERY ORDER FOR $280.9 MILLION
Oshkosh Defense, a division of Oshkosh Corporation (NYSE:OSK - News), has been awarded a contract by the U.S. Army Tank-automotive and Armaments Command Life Cycle Management Command (TACOM LCMC) for the U.S. Army’s Family of Medium Tactical Vehicles (FMTV) rebuy program.
“We feel privileged that the U.S. Army has selected Oshkosh to produce the FMTV, an important element to the Warfighter’s tactical vehicle fleet,” said Robert G. Bohn, Oshkosh Corporation chairman and chief executive officer. “This was a highly competitive bid. We look forward to working closely with our customer on this project to meet the needs of our troops, just as we have with our other products and services."
The FMTV rebuy program is a five-year requirements contract award for the production of up to 23,000 vehicles and trailers as well as support services and engineering. The FMTV is a series of up to 23 variant and 17 different models ranging from 2.5 ton to 5 ton payloads. The contract’s first delivery order is valued at $280.9 million for the production and delivery of 2,568 trucks and trailers. Initial test vehicle deliveries are planned for mid-2010, followed by production vehicle deliveries later in the year.
About Oshkosh Defense
Oshkosh Defense, a division of Oshkosh Corporation, is an industry-leading global designer and manufacturer of tactical military trucks and armored wheeled vehicles, delivering a full product line of conventional and hybrid vehicles, advanced armor options, proprietary suspensions and vehicles with payloads that can exceed 70 tons. Oshkosh Defense provides a global service and supply network including full life-cycle support and remanufacturing, and its vehicles are recognized the world over for superior performance, reliability and protection. For more information, visit http://www.oshkoshdefense.com/
About Oshkosh Corporation
Oshkosh Corporation is a leading designer, manufacturer and marketer of a broad range of specialty access equipment, commercial, fire & emergency and military vehicles and vehicle bodies. Oshkosh Corp. manufactures, distributes and services products under the brands of Oshkosh®, JLG®, Pierce®, McNeilus®, Medtec®, Jerr-Dan®, BAI™, Oshkosh Specialty Vehicles, Frontline™, SMIT™, CON-E-CO®, London® and IMT®. Oshkosh products are valued worldwide in businesses where high quality, superior performance, rugged reliability and long-term value are paramount. For more information, log on to http://www.oshkoshcorporation.com/
®, ™ All brand names referred to in this news release are trademarks of Oshkosh Corporation or its subsidiary companies.
Forward-Looking Statements
This press release contains statements that the Company believes to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact, including, without limitation, statements regarding the Company’s future financial position, business strategy, targets, projected sales, costs, earnings, capital expenditures, debt levels and cash flows, and plans and objectives of management for future operations, are forward-looking statements. When used in this press release, words such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “should,” “project” or “plan” or the negative thereof or variations thereon or similar terminology are generally intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, assumptions and other factors, some of which are beyond the Company’s control, which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These factors include the consequences of financial leverage associated with the JLG acquisition, including the level of the Company’s borrowing costs, the increased interest rates the Company would face if it experienced a deterioration or downgrade in credit agency ratings and the Company’s ability to maintain compliance with its financial covenants under its credit agreement; the cyclical nature of the Company’s access equipment, commercial and fire & emergency markets, especially during a global recession and credit crisis; the duration of the global recession, which could lead to additional impairment charges related to many of the Company’s intangible assets; risks related to the required increase in the rate of production for the M-ATV and FMTV contracts, and the amount, if any, of additional orders for M-ATVs and/or FMTVs that the Company may receive; the expected level and timing of U.S. Department of Defense procurement of products and services and funding thereof; risks related to reductions in government expenditures and the uncertainty of government contracts; risks related to production delays as a result of the economy’s impact on the Company’s suppliers; the potential for commodity costs to rise sharply in a future economic recovery; risks associated with international operations and sales, including foreign currency fluctuations; risks related to the collectability of receivables during a recession, particularly for those businesses with exposure to construction markets; and the potential for increased costs relating to compliance with changes in laws and regulations. Additional information concerning these and other factors is contained in the Company’s filings with the Securities and Exchange Commission. All forward-looking statements speak only as of the date of this press release. The Company assumes no obligation, and disclaims any duty, to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Northrop to clean up Calif. water at Superfund site

*Northrop to build water cleanup system
*Cleanup costs for San Gabriel Valley now top $70 mln
By Gina Keating
LOS ANGELES, Aug 28 (Reuters) - Northrop Grumman Corp (NOC.N) on Thursday reached a settlement with U.S. environmental regulators that requires the aerospace giant to spend about $21 million to clean up groundwater pollution dating from World War II manufacturing through the 1980s.
Northrop operated three of 62 "source properties" that the U.S. Environmental Protection Agency (EPA) found had discharged contaminants into groundwater at a Superfund site in the San Gabriel Valley, northeast of downtown Los Angeles.
The EPA announced the settlment on Thursday in a statement.
The Northrop sites were not the largest source of pollution, said Dustin Minor, EPA's acting branch chief in EPA's Office of Regional Counsel. "They just really stepped up to the plate and worked with the other parties," which will help pay for the clean-up, he said.
A Northrop spokesman had no immediate comment on the settlement, which requires it to build a groundwater cleanup system that will pump out the contaminated water and remove "volatile organic compounds" from degreasers and metal cleaners used in area factories, EPA said.
The treated water will be used for drinking, water reclamation projects or discharged to surface water, EPA said.
The project is aimed at stopping the spread of a pollution plume that stretches six miles in length by one to two miles in width in underground aquifers that provide most drinking water to the valley's one million or so residents, Minor said.
The Superfund site is one of four areas of contaminated groundwater listed by EPA in the San Gabriel Valley in 1984.
The EPA plans to operate the groundwater cleanup system for about a decade while it formulates a plan to remove the contaminants from the aquifers, Minor said.
Northrop has already spent more than $10 million on remediation efforts under a 2002 EPA order, and total cleanup costs in the area so far have topped $70 million, the agency said. (Reporting by Gina Keating; editing by Carol Bishopric)