Congress is asking top U.S. defense contractors to disclose their corporate plans if the military is forced to cut $500 billion from its budget early next year, putting the companies in the middle of a political fight between Republicans and the White House.
The United States and the United Arab Emirates have signed a deal for a missile-defense system in the Persian Gulf country, the Pentagon said Friday.
A shipment of Patriot missiles that Finnish authorities found and seized was legal and authorized, the German government said Thursday.
Finnish authorities have launched an investigation after impounding 69 Patriot missiles from a ship bound for China.
updated: Mon Nov 07 2011 17:25:00
Lisa Sylvester looks at reports that most fake military components are traced to China.
A bipartisan congressional report has found a widespread problem with counterfeit electronic parts installed or purchased for use in American military systems around the world. Two U.S. senators said most of the bogus parts originate in China, according to an investigation by their staff.
updated: Tue Oct 25 2011 06:29:00
Women at South Pole continues to wait for plane ride to hospital to get treatment for stroke.
The American researcher, who was stranded in the South Pole for weeks after suffering a stroke, is finally back on American soil.
After weeks of waiting, an American researcher who suffered a suspected stroke while working at the South Pole has arrived in New Zealand for evaluation and treatment, a National Science Foundation official confirmed Monday.
After weeks of waiting, an American researcher who suffered a suspected stroke while working in the South Pole flew out Monday.
The Pentagon budget is about to get whacked.
This time last year, Boeing's F-15 production line, which is housed in a beige, dreary building on the outskirts of Lambert-St. Louis International Airport, was on the verge of shutting down. The F-15 is an old jet, first designed in the 1970s to outmaneuver Soviet MiGs. It has long been surpassed by more advanced rivals, and the U.S. military hasn't bought a new one since 2001. When production slowed to a trickle a few years ago, a pair of orders from Korea and Singapore kept the line alive, barely, and it has been churning out about one F-15 a month since then. Local politicians fretted that Boeing would have to close the production line, eliminating hundreds of jobs and delivering a blow to the struggling regional economy.
2010 has been, to quote Frank Sinatra, a very good year for the markets.
updated: Fri Nov 12 2010 13:41:00
"Iron Man" suits may be coming to battlefields. CNN's Chris Lawrence puts one through the paces.
The Los Angeles County Sheriff's Department says it is trying out a new way to break up fights between inmates: a high-tech heat ray.
In a move to measure its workforce not too long ago, Nationwide Insurance surveyed its 36,000 employees at the time. Its CEO was in for a shock. The single largest employment category had nothing to do with insurance and was instead "technology." The story is told by Brian Fitzgerald, executive director of the Business-Higher Education Forum (BHEF), to dramatize the transformation of the U.S. workforce. At Nationwide, an entire upper tier of computer scientists had to be brought in from India because the company didn't have enough in Ohio. "You can be selling insurance or manufacturing cars," Fitzgerald says, "but almost every American corporation has been turned into a technology operation."
For years, the U.S. Navy has been pursuing a workable ray gun that could provide a leap ahead in ship self-defenses.
Despite revelations in a congressional investigation of a subsidiary's mismanagement and questionable vetting of employees, the company formerly known as Blackwater could soon win millions of dollars in new job orders for work in Afghanistan.
The chairman of the Senate Armed Services Committee plans to unleash a withering attack Wednesday on private contractors working for the company formerly known as Blackwater in Afghanistan, accusing them of flouting regulations and endangering the U.S. mission.
During the 2008 presidential campaign, then-Sen. Barack Obama repeatedly promised that if elected he would clean up the way Washington works and bar lobbyists from working in his administration.
Any kid can dream up a roller coaster. But those who visit a new exhibit at Walt Disney World's Epcot theme park can actually take a ride on their fantasy creations.
Some companies find their niche and stick to it. Others, though, have to adapt to changing markets in order to thrive. Here's a look at some companies that switched industries at some point in their histories, usually for the better.
President-elect Barack Obama, who campaigned on lessening lobbyist influence in government, has chosen a defense expert who is currently a vice president and lobbyist for one of the country's biggest defense contractors to be his deputy secretary of defense.
Employers like Circuit City, Office Max and Harley-Davidson bet heavily on stocks with their pension fund assets -- and lost a bundle
If you are a hammer, as the saying goes, everything looks like a nail. If you are the World Health Organization, everything looks like a disease - even traffic accidents.
The Merrimack River once powered the old brick textile mills that built Manchester, N.H. More than a century later Brett Rosner, 48, chief operating officer of Oasys Technology, found the river the perfect testing ground for his high-tech scopes.
The Small Business Administration and preferential contracting - procurement policies designed to assist small companies and other vendors designated as disadvantaged in open competition - have been inexorably linked for more than 50 years.
Stocks ended lower for the second straight session Thursday as record high oil prices in addition to lackluster earnings and economic reports fueled investors' nervousness about the direction of the economy.
Record high oil prices took a toll on stocks once again Thursday afternoon while a string of lackluster earnings reports and mixed economic news fueled investors' nervousness about the direction of the economy.
ITT Corp. said Friday that second-quarter profit rose, helped by strong sales of its defense and water treatment gear.
Here are some of the stocks actively trading on Thursday:
Gone are the days when investment banks sat on the sidelines of the private-equity boom, content to let their M&A divisions collect advisory fees on deals. In 2006 they put their own money to work on some of the most ambitious buyouts of the year, including the $22 billion Kinder Morgan deal, the $8 billion Aramark deal, and the HCA deal.
The mind-boggling mishaps that took place in the executive - and hotel - suite.
Business is booming at Raytheon, the $22-billion-a-year defense contractor that sells Tomahawk cruise missiles, laser-vision goggles and advanced radar systems to the Pentagon. This, improbably, is...
Stocks were choppy Wednesday afternoon as investors weighed the possibility of a Democratic-controlled Congress and what it might mean for Big Business.
Most of America's best-known companies are reaching out to gay and lesbian workers, as well as gay consumers, despite the criticism they get from conservative Christian groups.
So I love this Amaranth hedge fund blow up. What kind of risk management do they have when one trader up in Canada can put half the firm's capital at risk over some energy trades? Also: When you see the price of anything on Wall Street, moving up or down dramatically over say, six weeks, some hedge fund manager somewhere is getting his asp (an Egyptian snake) handed to him.
Last week, Bush visited Yuma, Arizona, to tour a portion of the U.S.-Mexico Border by Border Patrol buggy. Maybe Jorge was doing a little measuring for the $3.2-million-a-mile fence the Senate recently approved, which I guarantee will be really helpful.
The Bush administration is looking to military contractors for high tech help controlling the U.S. border, according to a published report.
This spring, shareholders at such big companies as ExxonMobil, Ford and American Express are voting on whether gay and lesbian people deserve protection against discrimination in the workplace.
NEW YORK (FORTUNE) - Raytheon ranks no. 97 on this year's list of the FORTUNE 500, with $21,894 million in revenues, up 8.1% from the previous year. The Waltham-based company was ranked no. 103 on the 2005 list. Its 2005 profits were $871 million, up 108.9% from a year earlier.
It started decades ago as flashes of insight scribbled on loose scraps of paper. Then it morphed into a PowerPoint presentation that distilled years of business wisdom into a handful of easy-to-rem...
Defense stocks rallied to all-time highs after George Bush was re-elected. But the positive outlook for the group isn't just the result of his victory.
A common thread connects this year's standouts: They all responded to crisis by radically changing the way they make things. Autoliv reprocessed its factory to fend off stiff competition in airbags...
Mansions, supercars, and bespoke suits may be just fine, but in the world of "positional goods" it's hard to beat that most alluring of accessories, the business jet. Except with a faster business ...
With the bull market celebrating its first birthday, we thought it would be a good time to look back on some of our recent investing picks and pans. Here are some of our best and worst calls, and o...
The private jet business is seeing signs of take-off in 2004.
U.S. stocks, which have shown signs of weakness in recent sessions after a year-long rally, may face some resistance on Friday as investors will try to digest a mid-quarter outlook from tech bellwether Intel Corp. and Friday's jobs report.
One of the pleasures of my job is watching a feature come together after a lot of hard work. In August, I asked senior editor Amy Bernstein to start this month's cover package, "How to Succeed in 2...
Last year investors pummeled big-company stocks because of problems with their pension plans. By the end of 2002 large corporations owed $1.2 trillion to current and future retirees--about $225 bil...
Sitting in a half-empty office, William H. Swanson jokes about how he hasn't had much time for decorating since he was elevated in July to the post of president of Raytheon, the nation's fourth-lar...
There's a method to being extremely successful. At Dell Computer, where success has been relentless--even when so many others in the tech business are flailing--the method is known as "the model." ...
You'd think that a rabid fan of the Tottenham Hotspurs (English soccer's equivalent of a perennially underachieving team like the Chicago Cubs) would be an eternal optimist.
Call it plug-and-play warfare. A network of small electronic devices carried aboard airborne drones and mud-caked Humvees could soon allow U.S. soldiers to create ubiquitous wireless networks from ...
Hoping to do for college savings what the 401(k) has done for retirement planning, big employers such as Raytheon and Ford have launched workplace 529s that allow employees to use payroll deduction...
"When you listen to the economists, they're talking about a recovery. But most business people don't see it--maybe things have stopped going down, maybe we're bumping along the bottom. I suspect we...
No one knows precisely what President Bush's "new kind of war" against terrorism will look like--as Defense Secretary Donald Rumsfeld soberly notes, our opponents "operate in the shadows and we hav...
Did you see Mariah Carey the other night on the TV benefit for victims of the attack? I love Mariah! She sang "Hero," but I have to say, it wasn't exactly stellar. Then again, Mariah has been throu...
When terrorists struck New York City and Washington, D.C., in September, business people were on the frontlines. As a nation, we will struggle to properly memorialize the thousands who have perishe...
Twelve months ago, peer-to-peer (P2P) technology was the next new thing; three months ago it was called passe. But the flameout of one particular high-profile company (read Napster) has overshadowe...
A lot of jokes have circulated lately about how a President Bush in the White House makes it seem as if the clock has been turned back 12 years. But if defense companies had their choice, they'd pr...
Imagine the scene: A tight, fist-sized ball of yellow string gets shot 30 feet at a suspect fleeing a crime. As it closes in on him, the ball opens into a 16-foot net that ensnares the bad guy. Thi...
Stand on the mezzanine of Cessna Aircraft's new factory in Independence, Kan., look down on the crowded assembly lines below, and you might conclude you're in a time warp. From up here, the single-...
The same carbon-fiber composites that help the Air Force's $2 billion, bat-shaped B-2 bomber sneak past enemy radar are finding a new market in business jets and commercial rockets. Automated produ...
Armsmakers just can't seem to hit their targets. Last year it was Boeing that missed its earnings and saw its stock go into a tailspin. Last summer it was Lockheed Martin. Then, on Oct. 12, highfly...
Raytheon CEO Dan Burnham runs a $20 billion company that makes some of the most complex devices in the world, including the Tomahawk missiles now being used in the Balkans. On a recent afternoon at...
As if NATO's decision whether to open a ground offensive in Kosovo weren't weighty enough, consider: It could affect your next car purchase. Without diminishing the gravity of the Yugoslav conflict...
All heads turn for two reasons when U.S. Army Specialist Jason Petree strides to the front of the jam-packed conference room at the Association of the U.S. Army's annual meeting: He is huge, and he...
And the winner is...John Malone. The CEO of Tele-Communications Inc. has negotiated a terrific deal for himself in the sale of his company for $37 billion to AT&T. The 10% premium that AT&T is payi...
hq: santa cruz, calif. founded: 1997 sales: n.a. employees: 5 stock: privately held web address: www.realityfusion.com
Would you like us to pick up a change of clothes for you?" asked Kevin Russell, senior vice president for Executive Jet. This might not sound like much of an offer--except that I was stranded in Mo...
Executives at AT&T hope that bringing in the new guard marks the end to another annus horribilis, one marred by free-falling market share in its core long-distance business, a botched merger attemp...
Like a lot of people, you may still think of the 1980s as the era of merger mania. Well, wake up: Today's mergers and acquisitions make the '80s look smalltime. The global M&A market broke all reco...
So rapidly has the defense industry shrunk in recent years that "consolidation" sometimes seemed a polite way of saying "collapse," as one famous name after another disappeared into a black hole. B...
The first question everyone asks--why did you leave Fidelity?--is a fastball down the middle, and Brian Posner's bat is swinging before the words are out of your mouth. "Fidelity is a wonderful com...
Merger fever shows few signs of abating in 1997; in the first three weeks of January alone, a cool $46.5 billion of deals were announced, including Raytheon's purchase of GM's Hughes division. Here...
Now that archrivals Boeing and McDonnell Douglas have decided to make love and not war, it's time for defense-stock investors to come out of their foxholes. A wave of downsizings and more than $40 ...
RIGHT BEFORE THE 1992 PRESIDENTIAL ELECTION, this column named the stocks we believed would benefit most from a Clinton victory. Our picks included waste-management businesses such as WMX Technolog...
The early take on 1995's second quarter is that shareholders have lots to cheer about. Some 50% of the companies followed by Wall Street have already announced their numbers, and the tallies are su...
They were the Walkmans of the 1950s -- the coolest things ever to fit into Ban-Lon shirt pockets: snazzy transistor radios. Now these vintage examples of mid-century technology, which typically cos...
LOOKS AWFULLY GOOD for being dead, doesn't it? Beech Aircraft, which makes the airplane above -- Starship -- says production is being suspended temporarily; Starship isn't dead, just resting. Wrong...
Every now and then Washington does something so breathtakingly stupid that you can't even whistle -- you can only shake your head. The ill-fated ''luxury tax'' -- enacted as part of the 1990 defici...
Boeing vs. Airbus it's not, but with regional airline traffic set to lift off in the next decade, the market battle among commuter-plane makers is escalating. The newest ace in this lower-altitude ...
New equity issues are crowding onto Wall Street trading floors these days like extras in a Cecil B. De Mille epic. According to IDD Information Services, 572 such issues -- initial public offerings...
Down at the 99 Pub and Restaurant, the guys from Raytheon no longer talk to strangers. Workers in baseball caps and down vests are scattered along the bar in groups of two or three, murmuring among...
WAR/COVER STORIES 28 WINNING THE PEACE It's not too soon to plan the postwar world -- one without Saddam Hussein, without a Mideast arms race, and with a chance of Arab-Israeli reconciliation. by T...
War has ripped the tarpaulins off guns, planes, tanks, and missiles that most taxpayers have never even heard of before. Now that they see some of what the Pentagon has bought with the $800 billion...
Back in August 1989, when the Dow Jones industrial average was sashaying toward 3000 with barely a worried investor in sight, David Bostian, chief economist and investment strategist for Jesup Jose...
AS SOON AS the installation of new carpeting began in 1987, workers in a Washington, D.C., office building started complaining of burning in their lungs and dizziness. Within months 700 people were...
XEROX LAST YEAR celebrated the 25th anniversary of the first commercial fax machine, which it introduced. The company controlled 7% of U.S. fax sales in 1989. Japanese companies had two-thirds. -- ...
''Are there any common characteristics of companies that do better than mine?'' That was the question posed last year by the chief executive of a Fortune 500 company to Robert Gunn, a vice presiden...
Bulls, bears, who cares? Not Marvin McClay, 56, chief investment officer for Franklin Asset Management Systems, a subsidiary of the Franklin Resources mutual fund company in San Mateo, California. ...
IS THE GOLDEN AGE of the large corporation ending? Suggestions that it may be come from a surprising source: the men who run 200 of America's biggest companies. In the latest FORTUNE 500 CEO Poll, ...
Just six months ago Charles Clough (rhymes with how) came aboard as chief investment strategist for Merrill Lynch, where he counsels over 11,000 retail brokers and 440 institutional brokers at the ...
In an age when computers can screen stocks this way and that, portfolio manager Christopher Martin, 45, relies heavily on Yankee shrewdness. In the five years through September 30, his $500-million...
WHEN a General Dynamics or General Electric is punished by the Pentagon, as both recently were, it's banner news across the nation. But these big companies are only two of hundreds the Defense Depa...
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