Tony Capaccio

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F-35’s projected cost increases 1.9 percent to $398.6 billion

Bloomberg News, Tony Capaccio
Apr 18 2014 - 7:02am

WASHINGTON -- The projected cost to develop and produce Lockheed Martin Corp.'s F-35 fighter, the Pentagon's costliest weapons system, has risen 1.9 percent in the past year to $398.6 billion, according to estimates released Thursday.

Comments   ·   Read more   ·   Updated: Apr 18 2014 - 7:02am


Pentagon seeks weapon spending $25 billion less than planned

Bloomberg News, Tony Capaccio
Mar 4 2014 - 6:44pm

WASHINGTON -- The Pentagon's proposed $495.6 billion budget for the coming fiscal year would provide $154 billion for weapons purchases and research, $25 billion less than projected a year ago, according to the Defense Department.

Comments   ·   Read more   ·   Updated: Mar 4 2014 - 6:44pm


Lockheed F-35 faces year’s delay in stress testing

Bloomberg News, Tony Capaccio
Feb 21 2014 - 3:01pm

On-the-ground stress testing for the U.S. Marine Corps version of Lockheed Martin Corp.'s F-35 jet may be halted for as long as a year after cracks were found in the aircraft's bulkheads, Pentagon officials said.Testing of the fighter's durability was stopped in late September after inspections turned up cracks in three of six bulkheads on a plane...

Comments   ·   Read more   ·   Updated: Feb 21 2014 - 6:45pm


Chinese air force, Navy see significant upgrades, U.S. says

Bloomberg News, Tony Capaccio
Jan 31 2014 - 10:59am

WASHINGTON -- China's air force is fielding new precision-guided cruise missiles, long-range bombers and drones as its Navy expands its long-range punch, according to U.S. military intelligence officials.

Comments   ·   Read more   ·   Updated: Jan 31 2014 - 10:59am


Tests find cracks in F-35, Pentagon says

Bloomberg News, Tony Capaccio
Jan 28 2014 - 9:19pm

WASHINGTON -- Lockheed Martin Corp.'s F-35 jet developed cracks in testing of the fighter's durability and wasn't sufficiently reliable in training flights last year, the Pentagon's chief tester found.On-ground testing of the Air Force and Marine Corps versions of the fighter revealed "significant findings" of cracks on five occasions in fuselage...

Comments   ·   Read more   ·   Updated: Jan 28 2014 - 11:45pm


Research group says Lockheed Martin Inflating F-35 job-growth claims

Bloomberg News, Tony Capaccio
Jan 22 2014 - 8:28am

Lockheed Martin has "greatly exaggerated" the number of U.S. jobs generated by the F-35 fighter jet, the Pentagon's costliest weapons program, according to a new report from a nonprofit research group.

Comments   ·   Read more   ·   Updated: Jan 22 2014 - 8:28am


Pentagon cuts eased by $22.3 billion in U.S. budget accord

Bloomberg News, Tony Capaccio
Dec 12 2013 - 6:26pm

WASHINGTON -- The Defense Department would get $22.3 billion in relief from spending cuts this fiscal year under the budget deal reached by congressional negotiators, according to aides to lawmakers and Pentagon officials.

Comments   ·   Read more   ·   Updated: Dec 12 2013 - 6:26pm


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F-35’s projected cost increases 1.9 percent to $398.6 billion

Bloomberg News, Tony Capaccio
Apr 18 2014 - 7:02am

WASHINGTON -- The projected cost to develop and produce Lockheed Martin Corp.'s F-35 fighter, the Pentagon's costliest weapons system, has risen 1.9 percent in the past year to $398.6 billion, according to estimates released Thursday.

Comments   ·   Read more   ·   Updated: Apr 18 2014 - 7:02am

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