- The U.S. Department of Defense will start a review next month of the U.S. Navy’s costliest warship - the aircraft carrier USS Gerald R. Ford, being built by Huntington Ingalls (NYSE:HII) - after resolving Navy objections to the inquiry aimed at determining why the ship has faced years of delay.
- The under secretary of defense for acquisition ordered the review in part to see what lessons can be learned for production of the two other ships to follow in the ship's class, but agreed to delay the review’s start by a month to settle a dispute with Navy officials who said the timing would be too disruptive.
- Separately, the DoD awards a $400M contract to HII to perform repairs for nuclear-powered submarines, special mission submersibles, moored training ships and submarine support facilities.