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US Defense Biz Outlook Grim, Foreign Sales Won’t Save It: Deloitte

Posted by Sydney J. Freedberg Jr. on


Even if Congress somehow averts sequestration, the defense industry is headed for layoffs and, at best, anemic growth, and the much-vaunted surge in foreign military sales won’t turn that around. If the automatic cuts known as sequestration do take effect as currently scheduled in January, the impact would be “a devastating blow.” That’s the bleak… Keep reading →

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‘Let’s Not Sequester Ourselves:’ DoD Comptroller Hale

Posted by Sydney J. Freedberg Jr. on


WASHINGTON: Even with Congress in recess until after the November elections, the Pentagon remains focused on avoiding sequestration — which would require Congressional action before January — rather than planning the least painful way to implement the automatic budget cuts. “There isn’t a plan. I know this frustrates people, but we haven’t done detailed planning,”… Keep reading →

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Sequester Would Force 108K Layoffs Of DoD Civilians, Not Industry: CSBA

Posted by Sydney J. Freedberg Jr. on


WASHINGTON: Sequestration would force the Defense Department and other federal agencies to lay off workers long before the defense industry had to, said a report released today by the Center for Strategic and Budgetary Assessments. Though big defense contractors, led by Lockheed Martin, have warned that the threat of sequestration might require them to send… Keep reading →

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Delay Sequestration By Six Months; ‘We Need To Know What We’re Doing,’ Sez Sen. Feinstein

Posted by Sydney J. Freedberg Jr. on


CAPITOL HILL [updated 12:40 with Feinstein, Inouye remarks and results of amendment vote]: Sequestration drama roiled an otherwise pro forma mark-up of the Senate’s defense appropriations bill this morning, with a precious flicker of bipartisanship over the need to avert the sequester soon overtaken by disagreement over the legalities of layoff notices. If the automatic… Keep reading →

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No Need To Send Sequestration Layoff Notices, Sez Labor Dept.; McKeon Outraged

Posted by Sydney J. Freedberg Jr. on


WASHINGTON [updated 6:45 pm with Rep. Smith and AIA comment]: The Labor Department issued guidance today stating that defense companies and other federal contractors do not need to issue layoff notices sixty days in advance of sequestration. House Armed Services Chairman Buck McKeon immediately denounced the guidance as “politically motivated,” and his staff called it… Keep reading →

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Labor Department: No Need For Layoff Notices Before Sequester

Posted by Sydney J. Freedberg Jr. on


Labor Dept saying WARN act does NOT require layoff notices re sequester: http://bit.ly/Q6urjz. Story soon @ http://aol.it/NkxTqu SydneyFreedberg

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Hill Must Craft Sequestration Deal By Fall, Says Sen. Levin

Posted by Colin Clark on


WASHINGTON: Congress must act by fall — before the election — and pass some sort of answer to sequestration, says the chairman of the Senate Armed Services Committee. Sen. Carl Levin told reporters that his colleagues are beginning to focus on the fact that layoff notices for hundreds of thousands of defense and government jobs… Keep reading →

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Senate Appropriators Grill SecDef About Cyber, Pakistan, And, Yes, Sequestration

Posted by Sydney J. Freedberg Jr. on


CAPITOL HILL: Apologizing to Pakistan, the economic impact of sequestration, and the possibility of a cyber-war “Pearl Harbor” dominated today’s hearing of the defense panel of the all-powerful Senate Appropriations committee. Sen. Dianne Feinstein — who also chairs the intelligence committee — asks Defense Secretary Leon Panetta why we couldn’t just apologize to Pakistan for… Keep reading →

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Defense Layoff Notices May Flood Nation On Eve of Election, Thanks To Sequester

Posted by Sydney J. Freedberg Jr. on


WASHINGTON: Companies that do business with the federal government will have to announce “hundreds of thousands” of lay-offs just days before the November election, predicted the former Pentagon comptroller for George W. Bush. As sequestration approaches, said Dov Zakheim, the former comptroller, companies large and small will be faced with layoffs, which by law —… Keep reading →

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