A Note From Our President & Founder Jim Garrettson
The military’s chief weapons buyer took to the TV airwaves this week to expand further on his message that the defense prime contractor landscape should remain in its current composition and also addressed the research-and-development environment.
Frank Kendall — deputy defense undersecretary for acquisition, technology and logistics — told CNBC reporter Jane Wells in an interview aired Thursday he understood some of the indicators and pressures that could lead some large firms to seek out a potential consolidation move but that may “not necessarily (be) best for the government to have that happen.”
“This trend towards consolidation through mergers.. a tool that would give us a national security basis for intervening would be useful, ” Kendall said to CNBC.
“I’m working with my staff and will be working with Congress to make some recommendations on what to do along those lines.”
Kendall also called on industry to invest more in technological R&D initiatives in light of moves some large contractors have made to repurchase shares as they seek to return capital to stockholders and boost their earnings per share.
“I would personally like to see them… get ready for the next round of defense budget increases which is eventually going to occur, ” he said.
Kendall will keynote the Potomac Officers Club’s “Defense Research and Development” summit Dec. 2 to kick off a half-day event that will also feature’s acting principal deputy assistant secretary for research and engineering.
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“I’m working with my staff and will be working with Congress to make some recommendations on what to do along those lines.”
Kendall will keynote the Potomac Officers Club’s “Defense Research and Development” summit Dec. 2 to kick off a half-day event that will also feature’s acting principal deputy assistant secretary for research and engineering.
