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HII today announced that Steve Powell, the company's assistant treasurer for banking and capital markets, has been promoted to corporate vice president and treasurer, effective Jan. 1, 2025.

Powell will succeed Rick Wyatt, who will retire at the end of this year after more than 40 years with the company.

In this role, Powell will be responsible for banking and credit, corporate finance, cash management and forecasting, insurance and risk management, M&A valuation and financing, investments and trusts, capital structure, capital markets, rating agency relationships, short-term investments and pension trust asset management, according to a company statement. He will report directly to Executive Vice President and Chief Financial Officer Tom Stiehle.

Prior to joining HII, Powell worked at Lockheed Martin and Martin Marietta for 11 years in both corporate treasury and operations finance.

The Senate Armed Services Committee has agreed to dozens of bipartisan amendments to its version of the fiscal year 2025 defense authorization bill and is preparing to enter conference negotiations with the House.

Chairman Jack Reed (D-RI) and Ranking Member Roger Wicker (R-MS) have filed a “manager’s package” that includes 93 non-controversial amendments as well as attaches the annual authorizations for intelligence, the State Department and other federal agencies to the defense policy measure.

“To enact the bill in a timely manner,” the committee-passed version of the bill and House-passed version will be “combined through a series of negotiations" led by top defense authorizers from each chamber.

The Senate committee’s bill supports a total of $923 billion in national defense spending, breaking the cap mandated by the 2023 Fiscal Responsibility Act by about $25 billion. The bill authorizes $878 billion for the Defense Department and $33 billion for the Energy Department, with about $11.5 billion being out of the legislation’s jurisdiction.

The House bill, meanwhile, sticks to the FRA spending limit, meaning the final topline will have to eventually be worked out by congressional leaders, who have also begun meetings to avert a partial government shutdown before Oct. 1.

Elsewhere, the Senate committee's bill authorizes increased funding to build a second Virginia-class submarine as well as an additional $1.43 billion for a third Arleigh Burke-class destroyer, which stands in contrast to House authorizers and appropriators whose bills only fund two ships.

The bill does not change the Pentagon’s request for 68 F-35 Joint Strike Fighters, though House authorizers are looking to cut 10 jets and House appropriators seek to procure an additional eight jets.

Watch Inside Defense for additional reporting.

This Thursday INSIDER Daily Digest has news on the CNO's latest Navigation Plan, senior DOD leaders warning of the effects a continuing resolution would have on the military and more.

We start off with the chief of naval operations' latest Navigation Plan:

Chief of Naval Operations Adm. Lisa Franchetti has released her 2024 Navigation Plan, which focuses on expanding the Navy's contribution to the joint and combined warfighting ecosystem and her intent to accelerate her man, train, and equip responsibilities to raise the baseline readiness of the Fleet and be more ready for the possibility of war with China by 2027:

CNO sets goals to increase Navy advantage by 2027 in new Navigation Plan

Chief of Naval Operations Adm. Lisa Franchetti has identified seven different targets to increase force readiness by 2027 -- all while highlighting existing budgetary constraints that may impact this goal.

Document: 2024 CNO's navigation plan

. . . Followed by more coverage from this week's Air, Space, Cyber conference:

Air Force stands up another key component of acquisition restructuring

Air Force Materiel Command this week stood up the Integrated Development Office, one of three organizations that make up the new model of requirements and acquisition for the service.

RTX embracing open-systems architecture, holding on tight to IP for particular functions

Collins Aerospace, a subsidiary of defense prime RTX, is excited to plug into government reference architectures, especially for capabilities inside the cockpit, but would still seek to retain certain proprietary rights, a top company executive told Inside Defense.

USAFE commander wants NATO countries to buy sensors that detect drones at 'very low altitude'

As one-way unmanned aerial vehicles proliferate across contested regions, and with Russian factories now rapidly pumping out their own cruise missiles, the Air Force's top officer in Europe and Africa is calling for NATO allies to purchase a mass of cheap low-altitude sensors.

Commercial Space Office sussing contract models for CASR

The Space Force's Commercial Augmentation Space Reserve program won't be built on just one contract model, but what those models look like has still not been decided, a senior official said Monday.

Read our full coverage.

In letters to Senate Appropriations Committee Vice Chair Susan Collins (D-ME), senior Defense Department leaders described the effects a continuing resolution would have on their respective services:

Brown says six-month CR would hurt military's relationship with the defense industry

Chairman of the Joint Chiefs of Staff Gen. C.Q. Brown is warning Congress that the House GOP’s proposed six-month stopgap spending bill would hurt military readiness and modernization, partly by damaging the Pentagon's credibility with the defense industrial base.

Kendall: Space Force programs, nuclear modernization efforts would see delays under proposed CR

Along with a letter from Secretary Frank Kendall imploring Congress to pass a fiscal year 2025 budget on time, the Air Force today sent lawmakers a two-page fact sheet detailing the effects of three-, six- and 12-month delays in allocating funding.

CNO and commandant join SECNAV in opposition to six-month CR

Chief of Naval Operations Adm. Lisa Franchetti and Marine Corps Commandant Gen. Eric Smith sent separate letters to Congress yesterday opposing the House GOP’s six-month stopgap spending package, saying the proposal would undermine readiness and threaten strategic priorities for both services.

Wormuth: 6-month CR would harm air and missile defense, UAS, munitions efforts

A six-month continuing resolution would significantly harm a variety of modernization programs in the areas of air and missile defense, unmanned systems and munitions production, Army Secretary Christine Wormuth wrote in a letter to Senate Appropriations Committee Vice Chair Susan Collins (R-ME).

Document: Service leaders' letters on effects of CR

Army Lt. Gen. Xavier Brunson submitted answers to advance policy questions this week regarding his nomination to become the head of U.S. Forces Korea:

Korea command nominee wants to use IC to examine North Korea-Russia relationship

North Korea's munitions shipments to Russia are alarming, Army Lt. Gen. Xavier Brunson, President Biden’s nominee to be the next U.S. commander in South Korea, said in his testimony before the Senate Armed Services Committee Tuesday. But even more alarming is that it's not clear what North Korea is getting in return, Brunson said.

To date, the Army has invested $4 billion in its industrial modernization initiative since the start of the Ukraine-Russia conflict, and achieved a production rate of 40,000 155mm artillery rounds per month by the end of August:

Proactive planning needed for increasing surge capacity during conflicts, Army acquisition chief says

Army acquisition czar Doug Bush says the United States has been successful in delivering on its commitment to support Ukraine with an aggressive ramp-up of key munitions. But doing so for future world conflicts will require more advanced planning and effort to ensure adequate surge capacity exists prior to the beginning of the conflict.

The chair and vice chair of the National Defense Strategy commission this week "implored" the 59 members of the House Armed Services Committee to "work with your colleagues to stop relying on continuing resolutions and let the government function":

Lawmakers cautioned by defense strategy panel ahead of stopgap funding vote

The House Armed Services Committee today heard testimony from the National Defense Strategy Commission, which urged Congress to stop passing stopgap continuing resolutions that disrupt military readiness and modernization.

Rolls-Royce has agreed to sell its naval propulsors and handling business to Fairbanks Morse Defense in an acquisition that will see three facilities producing propellers, waterjets and marine handling equipment change hands, according to Thursday announcements from the two companies.

Under the agreement, which still must clear regulatory review and approval before it is finalized, Fairbanks will assume control of facilities in Pascagoula, MS, Walpole, MA and Ontario, Canada, according to the company’s release. Neither announcement provides financial details or a timeline for the deal’s completion.

The Pascagoula facility produces controllable-pitch propeller blades and hub body castings, large fixed-pitch propellers and waterjets for the Navy, the Fairbanks notice states. It is the only privately owned U.S. facility qualified to cast propellers for Navy ships and submarines.

The Walpole facility also builds ship propulsion systems for the Navy and Coast Guard, while the Canadian facility designs and manufactures handling systems, launch and recovery systems and undersea sensors for international navies, the announcement adds.

“When you look at the 150-year history of Fairbanks Morse Defense, you will find a handful of distinctive moments that completely transformed this company. We believe the acquisition of Rolls-Royce naval propulsors and handling businesses will become one of those moments,” CEO George Whittier said in a statement included in the release.

“The way that our products and services complement each other is unmatched in the defense industrial base. Combining our capabilities allows Fairbanks Morse Defense to substantially increase what we offer to our U.S. maritime defense customers while also offering our systems and components solutions to Rolls-Royce's global customer base,” the statement continues.

A proposed six-month continuing resolution proposed by House Speaker Mike Johnson (R-LA) was defeated by a vote of 202-220, with 14 Republicans joining 206 Democrats to bring it down.The bill, which has also drawn opposition from the Pentagon, looked doomed as early as last week when Johnson had to pull it from floor consideration after losing support among key Republicans.

Two Republicans, Reps. Thomas Massie (R-KY) and Marjorie Taylor Greene (R-GA) voted “present,” while Reps. Jared Golden (D-ME), Don Davis (D-NC), and Marie Gluesenkamp Perez (D-WA) were the only Democrats to support the CR, which Johnson proposed with a voting security measure attached to it. Among the Republicans who voted against the CR was House Armed Services Committee Chairman Mike Rogers (R-AL).

Rep. Rosa DeLauro (D-CT), the ranking Democrat on the House Appropriations Committee, said Republicans should view the defeat as a clear signal that Congress needs to begin bipartisan negotiations for a “clean” CR.

“Everyone in Washington, Democrats and Republicans, knew this ill-conceived continuing resolution was destined to fail,” she said in a statement. “Why we spent a week and a half considering a partisan bill, just days from a government shutdown, is beyond comprehension.”

The federal government is scheduled to partially shutdown on Oct. 1 if Congress does not pass a CR.

Meanwhile, former President Trump has posted on social media that Republicans should refuse to vote for any CR that does not have the voting security bill attached to it. Today’s failed vote, however, shows that Johnson cannot pass the bill in the House and the Democratic majority in the Senate has already said it is dead-on-arrival.

DeLauro, who with other Democrats seeks a three-month CR, noted the ticking clock.

“We have seven legislative days to keep the government open,” DeLauro said. “The time to begin negotiations on a continuing resolution that can gain the support of Democrats and Republicans in the House and Senate was last week -- but right now will suffice, if Republicans are willing to meet us at the table and actually govern.”

After the vote, Johnson said the GOP would “draw up another play, and we'll come up with a solution.”

“I'm already talking to colleagues about their many ideas,” he said. “We have time to fix the situation, and we'll get right to it. I'm disappointed. I know this was the right thing to do and I think the American people are going to let a lot of the folks that voted no tonight hear their concerns about it.”

This Tuesday INSIDER Daily Digest has news on Lockheed Martin unveiling a longer-range cruise missile concept, Space Development Agency satellites reaching a key milestone and more.

We start off with more coverage of the Air and Space Forces Association's Air, Space, Cyber conference:

Lockheed touts new 'extreme-range' cruise missile as follow-on to JASSM and LRASM

Lockheed Martin today unveiled it is developing a longer-range cruise missile dubbed AGM-158 XR that "stretches the existing [Joint Air-to-Surface Standoff Missile], [Long-Range Anti-Ship Missile] family," Jon Hill, the company's air dominance and strike weapons vice president and general manager, told a small group of reporters today.

SDA director lauds Tranche 0 success, expects Tranche 3 RFPs later this year

The first set of the Space Development Agency's satellites for data transport and missile tracking has been an "unmitigated success," Director Derek Tournear said, paving the way for the third operational slate of satellites for the speedy-development effort.

Read our full coverage.

The House Armed Services Committee hosted a hearing in Silicon Valley on fielding technology and innovation:

Defense industry execs say Replicator is good but not enough

The pace at which the Replicator initiative moves new weapons into the Defense Department is refreshing to see, but it's not enough, defense technology industry executives told the House Armed Services Committee at a hearing held in Silicon Valley.

The Navy's top civilian says the CR could also delay submarine industrial base investments, restrict cost-to-complete funding for prior year shipbuilding programs including the refueling of the aircraft carrier John C. Stennis (CVN-74) and delay key acquisitions under the Marine Corps' Force Design initiative:

SECNAV opposes six-month CR in letter to Congress

Navy Secretary Carlos Del Toro is publicly opposing the six-month continuing resolution proposed by House Republicans in a letter to lawmakers, warning the stopgap spending measure would further delay Columbia- and Virginia-class submarine production and cause various other problems for the sea service.

In a letter to Defense Secretary Lloyd Austin, 12 senators urge Austin to boost the defense industrial base workforce by guiding transitioning servicemembers and veterans towards opportunities in the DIB, including in the welding, automotive, aviation, submarine, and shipbuilding industries:

Senators urge Pentagon to recruit outgoing servicemembers for defense industrial base workforce

A bipartisan group of 12 senators is calling on the Pentagon to better leverage "transition programs" to recruit retiring servicemembers into the defense industrial base to fill workforce gaps that have hit submarine and shipbuilding programs especially hard.

Document: Senators' letter to DOD on transitioning servicemembers to DIB

Pentagon Performance Improvement Officer and Director of Administration and Management (PIO/DA&M) Jennifer Walsh is leading a team that will help with the presidential transition in November:

DOD launches presidential transition team to begin meeting with Harris, Trump campaigns

The Defense Department has established a new team to assist with the upcoming presidential transition and it is scheduled to begin operations next month.

This Monday INSIDER Daily Digest has news from the annual Air and Space Forces Association's Air, Space, Cyber conference and more.

We start off with coverage from this week's AFA convention:

New Air Force requirements command provisionally ready

The Air Force's new Integrated Capabilities Command -- which will be used to help bind the service's goals across the entire enterprise by developing capabilities that are interoperable across each command -- has been "provisionally" stood up, Air Force Chief of Staff Gen. David Allvin said today.

Kendall: China not a 'future threat,' but a threat today

The U.S. should no longer call China a "future threat," Air Force Secretary Frank Kendall said, as the military power's actions and exercises position it as a threat today.

Read our full coverage.

News on the Army's Lower Tier Air and Missile Defense Sensor program:

LTAMDS testing on schedule, but program could experience steep cuts in FY-25

Testing for the Lower Tier Air and Missile Defense Sensor is on schedule, according to the Army, but Senate appropriators have proposed cutting half the funding for the program in fiscal year 2025.

Defense contractor goTenna provides low-cost, low radio frequency interoperable mesh networks intended to enable communication in contested battlefield environments:

Air Force taps 'strategic funding' program to help goTenna across 'valley of death'

The Air Force's Strategic Funding Increase program provides a uniquely dependable source of cash for small businesses seeking contracts with the Pentagon via its multiyear awards -- which allow the program to avoid clashes with stopgap resolutions that typically plague small innovators attempting to "bridge the valley of death," according to one STRATFI recipient.

News on how the strike at Boeing will affect its defense contracts:

Boeing labor stoppage to add strain to defense unit, pause KC-46 and P-8 production

Boeing machinists in the Seattle region on Friday rejected a contract proposal from the company and voted to strike, temporarily pausing production of the KC-46 Pegasus tanker and P-8 Poseidon aircraft and furthering the fiscal restraints Boeing's defense unit has felt in recent years.

A new multibillion-dollar, block-buy fleet oiler contract is expected to save approximately $491 million across the eight vessels -- a 6.2% savings compared to single-year contracts -- with the first ship expected to deliver in 2029:

NASSCO awarded $6.75 billion contract for up to eight more T-AO-205 oilers

The Navy has awarded General Dynamics National Steel and Shipbuilding Co. a $6.75 billion block-buy contract to produce up to eight additional John Lewis-class fleet replenishment oiler ships, the service announced Friday.

Any remaining funds that could be used for helping supply weapons to Ukraine are tied to Presidential Drawdown Authority, which DOD uses to identify weapons from U.S. stocks that can be immediately transferred to Ukraine in its war against Russia:

U.S. weapons transfers to Ukraine could expire this month if Congress doesn't act

About $6 billion in spending authority the Defense Department needs to transfer U.S. weapons to Ukraine is scheduled to expire at the end of this month unless Congress moves to extend the deadline.