December 17 Market Close: GovCon Index Snaps 3-Day Skid, Fed Sends Interest Rate Signal

GovConIndex
The GovCon Index ended its stretch of three consecutive days of losses with a gain of 1.042 points to close at 68.453 on Wednesday. Investors reacted to the Federal Reserve’s addition of the phrase “considerable time” in its latest policy statement and comments from Fed Chair Janet Yellen that the central bank will likely not raise interest rates for the next several meetings, according...

Jerome Hauer Joins Chertoff Group as Security Services Principal; Michael Chertoff Comments

Chertoff Group logo Executive Mosaic
Jerome Hauer, formerly commissioner of New York’s homeland security and emergency services division, has joined Chertoff Group as principal within the firm’s security services practice. He will be part of Chertoff’s team that works to assist customers in establishing risk reduction and management strategies and executing business continuity plans, Chertoff said Tuesday. Michael Chertoff, executive...

Cubic Buys DTECH LABS for $114.5M; Bradley Feldmann Comments

Bradley Feldmann
Bradley Feldmann Cubic Corp. (NYSE: CUB) has acquired modular networking and baseband communications equipment provider DTECH LABS Inc. for $114.5 million. Bradley Feldmann, president and CEO of Cubic, said Tuesday the DTECH acquisition is part of the company’s “near-term strategy to build a niche $100 [million] to $200 million C4ISR business generating mid-teen EBITDA margins.” Sterling, Virginia-based...

Northrop Receives USAF Order of Global Hawk UAVs for South Korea

northrop Grumman_BLUE
The U.S. Air Force will supply South Korea with four Northrop Grumman-built (NYSE: NOC) RQ-4B Block 30 Global Hawk unmanned aerial vehicles, two spare engines and ground control environment components under a foreign military sale worth $657.4 million. The Defense Department said Tuesday that Northrop will also equip the aircraft with the Enhanced Integrated Sensor Suite. The sale is part of...

December 16 Market Close: GovCon Index Records Nominal Loss, Investors Eye Possible Fed Move

GovConIndex
The GovCon Index extended its current stretch of declines into a third consecutive day with a nominal loss of 0.154 points to close at 67.411 on Tuesday. Investors will keep an eye on the Federal Reserve’s impending decision later this week on whether to change their policy statement and be more open to an interest rate increase next year, according to Reuters. The Dow Jones Industrial Average...

Peter Altabef Named President, CEO of Unisys; Paul Weaver Comments

Unisys logo
Peter Altabef, president and CEO of Oracle‘s (NYSE: ORCL) MICROS Systems subsidiary, will join Unisys (NYSE: UIS) in January as president, CEO and member of the board of directors. Unisys said Tuesday that Altabef brings 20 years of experience in leadership roles at other IT companies. “As an industry veteran, Peter brings outstanding leadership skills, a track record of delivering...

David Petty Joins Nuix as Commercial Sales SVP; Jim Kent Comments

big data2
David Petty, a 20-year technology industry veteran, has been named senior vice president of commercial sales at data management company Nuix. He will oversee the company’s electronic discovery, investigation, cybersecurity and data governance offerings in the North American market, Nuix said Tuesday. “Dave understands the data challenges commercial entities face and is positioned to deliver...

Wartsila to Buy L-3’s Marine Systems Int’l Business for $357M; MIchael Strianese Comments

Michael Strianese
Michael Strianese L-3 Communications (NYSE: LLL) has agreed to sell its Marine Systems International business to Wartsila Corp. for $357 million in a move that L-3 CEO Michael Strianese says is part of the company’s plan to reshape its portfolio. The companies expect to complete the transaction in the second quarter of 2015 and Wartsila will assume $75 million in pension-related liabilities...

Carl Hahn Joins Northrop as VP, Chief Compliance Officer; Sheila Cheston Comments

Carl Hahn
Carl Hahn Carl Hahn, formerly associate general counsel and trust and compliance officer at IBM Corp. (NYSE: IBM), has joined Northrop Grumman (NYSE: NOC) as vice president and chief compliance officer. He will succeed the retiring Judy Perry Martinez on Jan. 15, 2015 and report to Sheila Cheston, corporate VP and general counsel, Northrop Grumman said Monday. Hahn most recently led IBM’s compliance...

Greece Eyes Purchase of Boeing Chinook Helicopters for $150M

boeing logo
The government of Greece is seeking to purchase Boeing (NYSE: BA)-built Chinook helicopters and related equipment for $150 million through a foreign military sale agreement with the U.S. Greece requested for CH-47D Chinook helicopter engines, missile warning system, radio systems, ILS marker beacons, direction finders, navigation tools, transponders, radar signal detecting sets and navigation equipment,...