Defense Business Briefing -- May 21, 2019

Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.

This week's top story

DOD taking steps to fight price gouging after contractor reaps 'excessive' profits

A senior Pentagon acquisition official told Congress today the "sickening business practices" of contractor TransDigm Group have led the Defense Department to take new steps to mitigate alleged price gouging, including creating a watchlist of companies that refuse to provide cost data.

News & notes

Northrop CFO: 'TS can grow in 2020'

Northrop Grumman's chief financial officer said he's optimistic about the prospects for the contractor's technology services business, which has posted sales declines in recent years.

Warren wants defense contractors covered by federal open records laws

Democratic presidential candidate Sen. Elizabeth Warren (D-MA) has released a proposal to reform the "military industrial complex" that would, among other things, require that private defense companies like Lockheed Martin comply with federal open records laws.

Appointments & promotions

BAE taps Arseneault to be president

BAE Systems' U.S. business said it has named Tom Arseneault president and chief operating officer.

What's happening

The week ahead

House and Senate committees are scheduled to begin moving defense appropriations and authorization bills this week.

For Inside Defense subscribers

New DOD contracts language will hold companies 'accountable' for cyber, supply chain security

BALTIMORE -- New contracting language under development at the Defense Department aims to hold contractors "accountable" for the cybersecurity of the products they deliver to the government, as well as the security of the companies in their supply chains, according to the chief of the Defense Information Systems Agency.

Thornberry's new bill would pressure DOD to deliver acquisition reforms

House Armed Services Committee Ranking Member Mac Thornberry (R-TX) has drafted a defense acquisition reform bill that would fence Pentagon funding until the department begins implementing reform measures already on the books.

Pentagon to prototype key technologies with allies through new initiative

The Defense Department's research and engineering arm has established an "Allied Prototyping Initiative" to collaborate with foreign partners on DOD's top technology goals, including hypersonic weapons, artificial intelligence and cybersecurity.