Welcome to today's Defense Business Briefing, your weekly roundup of the latest defense industry news.
The White House announced five defense executives will serve as part of what it is calling "Great American Economic Revival Industry Groups."
AMERGINT Technologies said it has agreed to acquire Raytheon Technologies' space-based precision optics business. Terms of the deal were not disclosed.
Raytheon Technologies will reduce pay by 10% from June 1 through the end of the year for all salaried employees across the company's corporate offices and its Pratt & Whitney and Collins Aerospace businesses, while also implementing furlough programs for certain hourly employees.
Analysts say the ongoing economic crisis spurred by the coronavirus pandemic could hurt the Defense Department's work with nontraditional contractors.
Bath Iron Works says over the last several weeks, the attendance of its workforce is down 25% to 30% as workers use vacation, sick leave and excused time during the coronavirus outbreak.
Nine trade associations are appealing to the Office of Management and Budget to provide more guidance on how to implement a section of the coronavirus relief legislation meant to allow agencies to reimburse contractors unable to work.
The Pentagon official overseeing the Defense Department's new cybersecurity certification program thinks most companies in DOD's supply chain will be able to maintain the required cyber credentials for $1,000 per year or less.
BWX Technologies said it has named Robb LeMasters chief strategy officer, effective July 13.
BAE Systems said it has named Ann Ackerson global chief procurement officer, effective May 4.
Lockheed Martin is scheduled to report quarterly earnings this week. Meanwhile, all events around the Washington area remain curtailed due to the COVID-19 outbreak
DOD expects three-month COVID-19 delay across all programs; needs 'billions and billions' to reimburse contractors
Pentagon acquisition chief Ellen Lord said the COVID-19 outbreak will delay all major programs by about three months and require Congress to supplement the Defense Department with "billions and billions" of dollars to reimburse contractors experiencing virus-related challenges.
The Pentagon says a long-awaited report from the Defense Department inspector general's office should "close the door" on controversy surrounding its enterprise cloud program, even though the watchdog confirmed multiple ethical violations and was stunted in its investigation by the White House's assertion of "presidential communications privilege."
The American Federation of Government Employees, which represents more than 300,000 Defense Department civilian workers, is pushing back against a congressional effort that would codify DOD's "Night Court" budget efficiency process.