Rapid Fire 2010-07-16: India’s Project 75I

• Work without Pay?: The US DoD is warning that it might run out of money to pay US troops if Congress fails to pass a $33 billion supplemental defense spending bill before its August recess.

• India’s “Project 75I” looks to add 6 submarines, reach out to the private sector, as its fleet ages and its “Project 75” Scorpene submarines remain years behind.

• Bargain Basement Prices? A Citigroup analyst says that stock prices of major US defense firms, such as Lockheed Martin, Boeing, Northrop Gumman, and Raytheon, are undervalued given the expected growth in the global defense market. Everyone’s entitled to an opinion; not everybody agrees.