Top Bears Reasons — Vote below!

Add a New Bears Reason

Concept: Defense spending
Headline: (100 character max)
Analysis:
Cancel
100%
agree
1 votes

edit Major military contract cancellations in March 2009

Defense Secretary Robert Gates is going to be announcing up to half a dozen major weapons cancellations later this month, including a new Navy Destroyer, the Air Force’s F-22 fighter jet and Army ground-combat vehicles according to two defense officials who spoke on condition of anonymity. And according to them, this will be the first of at least two rounds of cuts made this year, though neither are guaranteed to pass. During the Bush administration, Cheney tried not once but four times to cancel the Marine Corps’ V-22 Osprey aircraft. But Congress reversed the decision each time. As William S. Cohen, a former Republican Senator from Maine and Defense secretary under Clinton, puts it, “There are so many people employed in the industry and they are spread across the country. Even though members of Congress may say, ‘It’s great that you are recommending the termination of X, Y, and Z,’ they will also say ‘that means 4,000 jobs in my state. Frankly, I can’t go along with that.’”

(100 character max) Cancel
 
Worried about pump and dump?
We review changes
for stock spam
Want to make Wikinvest better?
We need your help,
contribute today
Do you write software?
We are recruiting
the best engineers
Like Wikinvest?
Spread the word —
Tell your friends!
Wikinvest © 2006, 2007, 2008, 2009. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki