Rapid Fire Jan. 10, 2013: Marching Towards March Madness | UK Major Projects

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* Todd Harrison from the CSBA think tank explains [PDF] how the way the recent American Taxpayer Relief Act (ATRA) tinkered with sequestration affects defense. His estimate is $42.7B in cuts spread over the last 7 months of the current fiscal year, a couple billion dollars below Bob Dale’s number. But the revised base number […]

* Todd Harrison from the CSBA think tank explains [PDF] how the way the recent American Taxpayer Relief Act (ATRA) tinkered with sequestration affects defense. His estimate is $42.7B in cuts spread over the last 7 months of the current fiscal year, a couple billion dollars below Bob Dale’s number. But the revised base number for FY14 would be lower at $475.2B vs. $479B in the original sequester, and $533.6B in the FYDP.

* “March Madness” is the new “Fiscal Cliff”, as the US Congress is hooked to lousy sequels. Debt ceiling vs. sequestration are the bargaining chips that Democrats and Republicans say are off the table, but they will still have to use in the end.

* Senator Patrick Leahy [D-VT] will stick to his existing committee chairs, thus turning down the defense appropriations chairmanship which could have been his by virtue of seniority. Leahy had already passed on the opportunity to be chairman of the whole appropriations committee. Tom Harkin [D-IO] also passed. Richard J. Durbin [D-IL], who is already a member of the defence subcommittee, is next in line. These positions have been weakened by routine use of long continuing resolutions.

* The LCS PEO is organizing an Industry Day on Jan. 24 in Washington, DC, on the Unmanned Influence Sweep System (UISS) whose purpose is to “influence sweep magnetic and acoustic mines without taking a manned ship/small craft into the minefield.”

* USAF General Todorov, NORTHCOM’s Deputy Director of Operations, hopes various US and international missile defense systems will become more interconnected and integrated in years to come.

* The UK’s National Audit Office released their Major Projects Reports for 2012 [PDF]. They analyze where cost overruns and delays come from, and in some cases such as fuel price inflation, there is little the Ministry of Defence can do, which Secretary Philip Hammond pointed out in an interview with the BBC. Despite knee-jerk outrage in the press at cost overruns, schedule slippage are a more legitimate gripe. The NAO saw a total Y/Y budget forecast increase of about $750M:

“Forecast costs have increased by £468 million in the past year, which reflects a net increase of £637 million on three projects, including £336 million of forecast fuel inflation on the Future Strategic Tanker Aircraft, and a net decrease of £169 million on the remaining projects.”

* Haaretz has seen preliminary numbers from Israel’s Ministry of Defense that estimate the country’s armament sales in 2012 to be up 20% from last year to $7B – that is, back to 2009-2010 levels.

* Meggitt CEO Terry Twigger is retiring after 12 years. The company’s CFO Stephen Young will succeed him. FT.

* The Royal Canadian Air Force has a quick review of their 2012 search and rescue operations.

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