Rapid Fire Dec. 6, 2012: OK, OK, We’ll Plan for Bad
- After recoiling for months from planning for sequestration for fear of triggering a self-fulfilling prophecy, the Pentagon has now started doing so, or at least admitting that they do. AP.
- The Aerospace Industries Association (AIA) published its 2012 review/forecast [PDF]: “The U.S. military aircraft sector continues to contract, falling 2.4% over last year and will further decline by more than 10% in 2013.” But with a backlog edging close to the 2008 peak above half a trillion dollars, the overall aerospace industry still has plenty of work ahead thanks to global civilian orders.
- Rolls Royce announced they are under investigation by the UK’s Serious Fraud Office for allegations of bribery in China and Indonesia. The company’s internal inquiry acknowledges “matters of concern.” This must be for civil aerospace or energy products, given the destination countries.