Panetta Said May Cancel Army's C-27J Transport -Bloomberg

Date : 01/26/2012 @ 10:38AM
Source : Dow Jones News
Stock : Lockheed Martin Corp. (LMT)
Quote : 289.12  -0.55 (-0.19%) @ 3:59PM

Panetta Said May Cancel Army's C-27J Transport -Bloomberg

Lockheed Martin (NYSE:LMT)
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U.S. Defense Secretary Leon Panetta on Thursday will make a budget request of $525 billion for 2013 which will include some base closings, Bloomberg Television reported, citing people close to the matter.

Cutbacks in both personnel and aircraft are outlined in the budget proposal, with Army troops to be trimmed to 490,000 from 562,000 and Marine Corps numbers to be dropped to 182,000 from 202,000, according to the sources. The Pentagon proposal may also request cancellation of the Army's C-27J transport and the retirement of some C-5 and C-130 transports.

Full story at www.bloomberg.com

-Dow Jones Newswires; 212-416-2900

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