Rapid Fire 2010-10-26: Is Defense Really Counter Cyclical?

* Octoberfast: Germany joins in European defense budget belt tightening. * You say yes, I say no: Russia warms to idea of NATO missile defense shield, while South Korea says “no” to joint missile defense with US. * Countering Counter-cyclical: Forbes article questions view that defense demand is counter-cyclical to the commercial business cycle. * Lockheed Martin board approves $3 billion share buyback program. * Honeywell wins 3 contracts worth up to $233 million to supply logistics support services to the US Army Field Support Brigades; other winners are Sentel, up to $98 million; ManTech, up to $62 million; and Stanley Associates, up to $7 million. * Up to $23 million to SAIC to provide biometrics support to the US DoD’s Biometrics Identity Management Agency. * Sherpa Ascent: A C-23 Sherpa light military transport aircraft, used by the US Army at the Kwajalein Atoll in the Pacific, is getting a major overhaul. * Goodrich gets GPB 7 million UK MoD contract to supply logistics for a range of RAF jets and helicopters.