Rapid Fire 2010-09-10: Inspecting the DOD IG

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* Despite overseeing drastic cuts at the Pentagon, Defense Secretary Gates is supported by many US defense industry execs, who do not want to see his early departure. * Watching the Watchdog: US Sen Grassley (R-IA) issues scathing report [PDF] charging that the DoD Inspector General’s Office is dropping the ball on investigating defense waste and fraud. * Big War Chest: L-3 says it has $1 billion in cash to spend on acquisitions targeted at intelligence, cybersecurity, and defense services firms. * A quarter of Lockheed Martin’s executives, more than 600, have accepted early retirement packages offered by the defense firm. * BAE Systems plans to cut 740 jobs at the UK division supplying parts for military aircraft such as Lockheed Martin’s F-35 Lightning II fighter; plants in Brough, Chadderton, Warton, Samlesbury in northern England, and Farnborough, west of London, could be affected. * Russia plans to resume testing this month of its Bulava (SS-NX-30) 3-stage submarine-launched ballistic missile capable of carrying 10 nuclear warheads up to 5,000 miles; tests were put on hold after a series of failed launches in 2009.

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