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CORPORATE NEWS: "Fate of Lockheed's F-22 Raptor Up in Air: Pentagon, Air Force Disagree on the Need For This Type of Jet," by August Cole, Wall Street Journal, 14 July 2008, p. B3.
I am reminded of those who ridiculed my notion--long-stated--that war tends to be bad for big defense contractors because it inevitably puts their programs of record (weapons systems, platforms) at risk, money simply being needed elsewhere for operations, bodies, medical care, etc. You stock up in peace, you spend in war.
The F-22 is a poster child for this: great jet, so great we can't share it. But also so great that it's really not that appropriate for the operations we face today. So the Pentagon is set to stop buying them, which means Lockheed is set to stop building them, leaving us to work the current stock (any shot down lately?) and wait on Joint Strike Fighter, so expensive ($300B to develop and buy--today's estimate) that we're sharing production costs with everyone we can stand.
The Air Force? It holds out for China and Russia.
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