Although the financial outlook for General Dynamics is less certain in the short term, the company shows strong potential for medium-term growth, according to Deutsche Bank Alex. Brown analyst Christopher Mecray. Mecray notes the higher-than-expected fourth quarter 2001 sales in the company's Combat Systems and Aerospace (Gulfstream and Galaxy) sectors were offset by slightly lower margins in the Marine Systems sector. For FY 2002, "we assume 13 percent [growth] for revenue and 11 percent [growth] for EPS [earnings per share]," he says.
CONTINGENCY FUND: A $10 billion contingency fund the Bush Administration has requested would be used to pay for a variety of costs related to possible future military operations, according to Secretary of Defense Donald Rumsfeld. President Bush announced Jan. 23 that he would ask Congress for the fund as part of his fiscal year 2003 budget request package. The war against terrorism "doesn't lend itself to precise calibration as to exactly what it will cost and how it might be conducted and how long it might take," Rumsfeld says.
Although one company has been awarded a contract with a potential value of $88 million for support of the Air Force's Space Warfare Center at Schreiver Air Force Base, Colo., another company has protested the award, but its protest has been overruled. This company, which the Air Force wouldn't identify, has until Feb. 6 to appeal. The company receiving the contract is RS Information Systems (RSIS) of McLean, Va. It competed with two incumbents, ACS Defense, formerly DTAC Corp., and ITAC Corp., according to a Space Warfare Center spokeswoman.
NASA has awarded its Distinguished Public Service Medal to Antonio Rodota, the director general of the European Space Agency. NASA European representative Karen Feldstein presented Rodota with the medal at a Jan. 24 ceremony at ESA's headquarters in Paris on behalf of former NASA Administrator Daniel Goldin, who signed the award letter before leaving office in November. In the letter, Goldin praised ESA's cooperation with NASA on the International Space Station and other programs.
A delegation of government officials from Australia held initial discussions with the Joint Strike Fighter (JSF) program office to discuss joining the U.S. and other international partners in development of the JSF, according to a Department of Defense spokeswoman.
The U.S. Attorney's Office in Birmingham, Ala., has decided not to prosecute the former manager of the Army's Kinetic Energy Anti-Satellite (KE-ASAT) program, possibly clearing the way for him to return to KE-ASAT and for $3 million in program funding to be released, according to sources.
Although his company is submitting ideas to Air Force Chief of Staff Gen. John Jumper on how to furnish "smart tankers" (DAILY, Dec. 11, 2001), the concept has "fizzled a little" because Congress has not appropriated funds for it, according to Robert Iorizzo, president of Northrop Grumman's Electronic Systems sector. "Smart tankers" would be tanker aircraft equipped with a palette of surveillance and sensor equipment, tied into a global network. "We've looked at some configurations to do airborne early warning, air-to-ground, and some [communications].
The European Space Agency's long-lived maritime communications satellite Marecs B2 is being taken out of service. The satellite has provided 18 years of service to sea-going vessels, but in the aftermath of Sept. 11 ESA was unable to get commercial backing for the satellite to continue its use. The U.S. National Science Foundation had considered using it as a link to an Antarctic research station, but withdrew that plan. Marecs B2, launched in 1984, will be raised to a "retirement" orbit and will be switched off.
A key U.S. senator is reacting skeptically to the Bush Administration's proposal for a 14.5 percent increase in the Defense Department's budget in fiscal 2003. Senate Appropriations Committee Chairman Robert Byrd (D-W.Va.) said Jan. 24 that Congress should take a "close look" at the Administration's defense spending plans. The proposed $48 billion increase, which would bring DOD's budget to $379 billion (DAILY, Jan. 24), follows enactment of an FY '02 increase for DOD of about 10 percent.
Expedition Four crewmembers completed their second spacewalk Jan. 25, installing thruster plume deflectors on the station's exterior and deploying experiments to study the harsh environment of space, among other tasks. Commander Yury Onufrienko and Flight Engineer Dan Bursch began the extra-vehicular activity (EVA) at 9:19 a.m. CST and concluded it at 3:18 p.m. CST. The thruster plume deflectors keep hydrazine fuel from clinging to the outside of the station, where it could obscure windows or get tracked back inside (DAILY, Jan. 25).
OUTLOOK CLOUDY: The business outlook for the Boeing Co. remains clouded, with a potential near-term upswing in commercial aircraft deliveries offset by a moderate downturn expected in 2003, according to Christopher Mecray, Deutsche Bank Alex. Brown analyst. Mecray says he is raising his estimates of commercial aircraft deliveries in fiscal 2002 and 2003 to reflect the company's FY 2001 earnings and FY 2002 guidance released last week. For FY 2002, delivery estimates go from 340 aircraft to 380, Mecray says.
Lockheed Martin Corp. posted a fourth-quarter 2001 net earnings loss of $1.5 billion, mostly due to charges from discontinued operations that totaled $1.4 billion. Losses for the quarter included a charge of $384 million related primarily to the company's investment in Astrolink International, officials said Jan. 25. The company announced last year it would no longer contribute funding to the satellite joint venture (DAILY, Jan.8).
Rep. Joe Wilson (R-S.C.), a colonel and lawyer in the Army National Guard, is getting a seat on the House Armed Services Committee (HASC). Wilson, who represents several military bases, including Marine Corps Air Station Beaufort and McEntire Air National Guard Station, was elected to the House in December to replace Rep. Floyd Spence (R-S.C.), who chaired the HASC procurement subcommittee until his death in August (DAILY, Aug. 16).
Jan. 29 - 31 -- American Institue of Aeronautics and Astronautics presents Strategic and Tactical Missile Systems Conference (Secret/U.S. citizens only), Naval Postgraduate School, Monterey, CA. Security clearance deadline was December 14. Feb. 5 - 6 -- The 5th Annual Federal Aviation Administration (FAA) Commercial Space Transportation Forecast Conference, Hyatt Regency Hotel, 2799 Jefferson Davis Highway, Arlington, VA. For reservations call (703) 418-1234. Mention FAA/AST conference for special rate.
SMART TANKER FIZZLING: Although his company is submitting ideas to Air Force Chief of Staff Gen. John Jumper on how to furnish "smart tankers" (DAILY, Dec. 11, 2001), the concept has "fizzled a little" because Congress has not appropriated funds for it, according to Robert Iorizzo, president of Northrop Grumman's Electronic Systems sector. "Smart tankers" would be tanker aircraft equipped with a palette of surveillance and sensor equipment, tied into a global network.
INTEL POST: Rep. Terry Everett (R-Ala.), who served as an Air Force intelligence analyst in the 1950s, will fill a vacancy on the House Permanent Select Committee on Intelligence. Everett, who will keep his seat on the House Armed Services Committee, represents a congressional district that includes Maxwell Air Force Base, the Army's Fort Rucker and Lockheed Martin's missile assembly plant in Pike County.
Korea Aerospace Industries (KAI) and Lockheed Martin Aeronautics Co. have begun static loads testing on the T-50 Golden Eagle advanced jet trainer, part of the procedure leading to first flight later this year. Results from the static loads testing, which began Jan. 2, will be used to certify the flight worthiness of the aircraft and to validate the structural computer model used in the airframe's design, Lockheed Martin announced Jan. 24.
A directive that established an interagency working group to develop a national transportation plan has been withdrawn without explanation by the White House, Aerospace Daily affiliate Aviation Daily reported.
The Air Force's Space Warfare Center has picked RS Information Systems (RSIS) of McLean, Va., to provide systems management and engineering services under a contract with a potential value of $88 million.
THE BOEING CO. has renewed its memorandum of understanding with the Space Alliance Technology Outreach Program (SATOP) to continue providing technical engineering assistance to small business owners. The company has pledged as a "platinum" space alliance partner, meaning it will donate 2,000 man-hours per year. "Boeing knows the responsibility of being a corporate citizen with our level of technical expertise," said Boeing Communications Director Ron Larivee.
STELSYS LLC of Baltimore will fly experiments on the International Space Station to compare human liver cell function in space with that on Earth. The research could help StelSys' development of treatment for people who are in need of liver transplants, according to NASA. Space Shuttle Discovery will deliver the research equipment on the STS-111 mission, slated for launch in May 2002. "This will be an excellent start for commercial use of space technology," said Neal Pellis, chief of the Biological Systems Office at NASA's Johnson Space Center, Houston.
STELSYS LLC of Baltimore will fly experiments on the International Space Station to compare human liver cell function in space with that on Earth. The research could help StelSys' development of treatment for people who are in need of liver transplants, according to NASA. Space Shuttle Discovery will deliver the research equipment on the STS-111 mission, slated for launch in May 2002. "This will be an excellent start for commercial use of space technology," said Neal Pellis, chief of the Biological Systems Office at NASA's Johnson Space Center, Houston.
The Air Force's Space Warfare Center has picked RS Information Systems (RSIS) of McLean, Va., to provide systems management and engineering services under a contract with a potential value of $88 million.
INTERNATIONAL CHARTER ON SPACE AND MAJOR DISASTERS members, including the European Space Agency (ESA), the French space agency (CNES) and the U.S. National Oceanic and Atmospheric Administration (NOAA) have launched a website aimed at speeding the use of spacecraft to aid in disaster relief. The website, at www.disasterscharter.org, contains guidelines on the procedures needed to request data from satellites, including CNES' Spot, ESA's ERS and Canada's Radarsat-1.
POWER SUPPLY: Hamilton Sundstrand will supply the complete Electrical Power Generation&Distribution System for CargoLifter Development GmbH's CL 160 airship. The contract could generate more than $120 million over the life of the program, according to the company.
