Rapid Fire: 2010-10-28

* ASPI analyst Mark Thomson discusses the underlying economic realities that may cripple western military power, and what that means for Australia. * French Groupement des Industries de Construction et d’Activités Navales (GICAN) Chairman Jean-Marie Poimboeuf offers some thoughts of his own in the naval sphere. * The Managing Director of BAE Australia offers some thoughts on that country’s defense industry, and the government’s Strategic Reform Program * Australia may end up cutting its Armidale Class replacement corvette/OPV project. * AeroVironment’s Global Observer High Altitude, Extreme Endurance UAV completes initial flight testing at Edwards AFB, CA. * Russia presses for limits to troop and equipment levels in NATO’s new members. * Iranian Cyber Army offers botnets for rent to cyber criminals, after hacking Twitter and Chinese search engine Baidu. * RAF unit puts out fires in Afghanistan, literally. * General Dynamics, Northrop Grumman post higher third-quarter profits and boost earnings guidance for year. * Boeing agrees to pay $4 million to settle US Department of Justice lawsuit alleging company overcharged the USAF for B-1 bomber towed decoy system kits.