Author: Stephen Manning
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Pentagon looks for $100B in cost savings
WASHINGTON — Defense Secretary Robert Gates said Monday he wants to trim some of the billions of dollars the Pentagon spends on weapons systems and contractor services, part of a Pentagon-wide effort to find $100 billion in savings in the next five years Gates, who already plans to pare down the Pentagon’s huge bureaucracy to…
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EADS goes alone in bid on U.S. tanker contract
WASHINGTON — A European defense contractor said Tuesday that will make its own bid for the U.S. Air Force’s long-delayed $35 billion contract to build a fleet of new refueling jets after its U.S. partner dropped out. The European Aeronautic Defence and Space Company, also known as EADS, opens a new chapter in the bitterly…
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Boeing says it will bid for Air Force tanker pact
WASHINGTON — Defense contractor Boeing said Thursday that it will bid for the Air Force’s troubled $35 billion refueling plane contract, leaving rival Northrop Grumman to decide if it will make its own attempt to build the long-delayed jets. Boeing said it plans to offer a military version of its 767 passenger jet for a…
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Feds weighing brake overrides in all new cars
WASHINGTON — Transportation Secretary Ray LaHood said Tuesday his agency may recommend that every new vehicle sold in the U.S. be equipped with brakes that can override the gas pedal. The idea seemed to be gaining support among lawmakers as Toyota officials returned for a third hearing on lethal safety defects. “We will not rest…
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Toyota CEO apologizes for safety lapses
WASHINGTON — Toyota CEO Akio Toyoda came to Washington to publicly apologize to Congress Wednesday for safety lapses that led to widespread recalls for accelerator and braking failures and for a corporate culture that may have made things worse. A House committee chairman said blame must be shared by both Toyota and U.S. safety regulators.…
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Government demands Toyota recall documents
WASHINGTON — The Transportation Department demanded documents related to Toyota’s massive recalls in the United States on Tuesday to find out if the automaker acted swiftly enough. Toyota, meanwhile, said it will idle production temporarily at Texas and Kentucky plants over concerns the recalls could lead to big stockpiles of unsold vehicles. The legal documents…
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Ford adds 4.5M vehicles to defective switch recall
DETROIT – Ford Motor Co. said Tuesday it will add 4.5 million older-model vehicles to the long list of those recalled because a defective cruise control switch could cause a fire.The latest voluntary action pushes Ford’s total recall due to faulty switches to 14.3 million registered vehicles over 10 years, capping the company’s largest cumulative…
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Army plans to build new combat vehicle
WASHINGTON – The Army will build new combat vehicles better suited for fighting insurgents in places like Afghanistan, equipment that would replace a fleet likely to be stripped from the service’s massive modernization program under the Pentagon’s 2010 budget plan.The Army hopes to field the new equipment within seven years, and could begin the process…
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The clock is ticking for Chrysler deal
WASHINGTON • With just two days left before a government-imposed restructuring deadline, Chrysler LLC took a step away from the brink of bankruptcy Tuesday when its biggest lenders reached a deal with the Treasury Department to slash the teetering automaker’s debt. Yet Chrysler’s fate remains far from assured. If the company’s smaller creditors don’t get…
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Companies push for pension relief
WASHINGTON • With pension funds facing billions of dollars in shortfalls as markets plunge, a range of companies from Ford to Verizon are pushing Congress to suspend portions of a 2-year-old law they say could force them to make job cuts as they shift scarce money into ailing retirement pools. The lobbying effort aims to…