Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (241711)	5/20/2003 3:24:09 PM
From: Pogeu Mahone	Read Replies (1) \| Respond to of 436258

Pentagon OKs Next Phase of U.S. Army Modernization STST does this help?-g- By Charles Aldinger Reuters Monday, May 19, 2003; 5:57 PM WASHINGTON (Reuters) - The Pentagon has approved the $14.92 billion development and demonstration phase of the Future Combat Systems program, a project led by Boeing Co. to modernize the U.S. Army, the Army said on Monday. The FCS is expected to become a lethal family of manned and unmanned air and ground weapons interlinked and tied to forces from other U.S. military services over a sophisticated command network. It aims for an initial operating capability by 2010. Defense Undersecretary Edward "Pete" Aldridge, the Pentagon's chief weapons buyer, signed an acquisition defense memorandum on Sunday approving the second phase, Army officials told reporters at a Pentagon news conference. This paves the way for Chicago-based Boeing and privately held Science Applications International Corp. to help the Army select and integrate at least 18 manned and unmanned weapons systems that will make up the FCS. Army officials said the two companies could get as much as 30 percent of the $14.92 billion, with the rest going to subcontractors, although that breakdown was not certain. General Dynamics Corp. and United Defense Industries Inc. are major subcontractors, and Boeing itself is competing in the weapons area. The Army said FCS over time will replace its current fleet of heavy war machines such as the M-1A Abrams tank and Bradley Fighting Vehicle with a new generation of attack vehicles supported by unmanned air and ground weaponry. The idea is to replace heavy tanks with a lighter, more mobile force able to fight on arrival in a battle, not wait for equipment. The new manned ground package of smaller and lighter vehicles -- including platforms for heavy cannons, mortars and troops -- would have a common structure and chassis. They are expected to fit into an air transport like the C-130, enabling them to be flown to hot spots anywhere in the world in 96 hours. "FCS will give our soldiers an overwhelming advantage in future operations because they will be able to see first, understand first, act first and finish decisively," Army Lt. Gen. John Caldwell told reporters. The signing of the memorandum followed a May 14 meeting of the Pentagon's Defense Acquisition Board and a May 10 status report on the project by retired Air Force Gen. Larry Welch, president of the federally funded Institute for Defense Analyzes. The service has requested $1.7 billion to continue work on the project in fiscal 2004, which begins Oct. 1. In addition to approving FCS for movement out of the concept and technology phase, the acquisition board also recommended more frequent reviews of the program and increased oversight by Defense Secretary Donald Rumsfeld, said senior defense analyst Joe Nadol of J.P. Morgan Securities. Boeing shares fell $1.35 or 4.44 percent to close at $29.07 on the New York Stock Exchange. © 2003 Reuters