Rapid Fire: 2011-02-04

• DoD report to Congress on contracting fraud [PDF] details civil and criminal fraud committed by over 100 contractors, many of whom continued to receive funds from the department.

• General Dynamics’ 10 million share buyback would be worth $757 million based on the closing stock price on Feb 3/11.

• Lockheed Martin freezes CEO Robert Stevens’ salary at $1.8 million for 3rd year in a row.

• Taiwan has inducted 2 more “frigates” to help deal with aggressive, illegal Chinese fishing vessels. Their 1,850-2,500t size and low armament suggest long-range Coast Guard Cutters, and indeed The Tainan and “Patrol Boat No. 7” are both serving in the new ROC Coast Guard Administration.

• Burmese junta deploying SA-3/S-125 Pechora anti-aircraft missiles, after spotting UAVs in its air space. Whether they’d be effective at finding and hitting UAVs, is another question.

• One thing we do know… the UAVs sure weren’t from the US Coast Guard. And won’t be any time soon, either. If they do decide to add anti-submarine responsibilities back to the USCG, that gap will really hurt.

• An official video explains the role of Singapore’s Searcher UAVs in Tarin Kowt, Afghanistan, and looks at their challenges. Note the protective containerized quarters – and that high-engined plane landing behind them is an AN-72/74, probably chartered for its short takeoff capabilities.

• New E-2D Advanced Hawkeye carrier AWACS aircraft makes its 1st carrier takeoff and landing.

• LEMV surveillance blimp completes Critical Design Review.

• 2nd and 3rd Swiftship patrol boats arrive in Iraq. Iraq has ordered 12 of the 35 meter vessels.

• Raytheon announces a contract from Boeing for 6 AN/APY-10 maritime and ground surveillance radars. They’ll equip the US Navy’s first 6 P-8A Poseidon sea control aircraft.

• ITT’s 2010 financial results were boosted by sale of CAS, a defense systems engineering firm, to Wyle for $235 million.

• Up to $80.6 million to CAS to provide program support to the project manager’s office for US Army’s Utility Helicopters.