For fiscal 2003, the Senate approved $355.4 Billion defense budget. the Pentagon's R&D got approval for $55.7 billion more than $53.8 billion requested by Bush. The biggest projects are for new jets,ships and COMMUNICATION systems. Satelleite research spending tops $1.1 billion, that is 104% increase over 2002 spending.
FEI is busilly engaged in bidding for new contracts. NASA labelled Martin Bloch as a national treasure and labelled FEI as an asset to the country. Defense business that is being bid for by FEI and won have margins exceed that of commercial business unlike the low margins of the past. disclosure: I am long FEI stock. I demand that the management of FEI be aware and ready for a decade of Defense as a thematic change from the pre Sep 11/2001.
FEI has responded to the needs of the Country by starting its defense subsidiary. This is the fastest growing segment at this time. With what is going on throughout the world their products are in demand. FEI has been in the defense business for over 35 years and this is on of FEI specialties.
It absolutely warms my heart to know that Frequency is standing by to serve our country.
When did they change their mind and decide to serve our government, was it before or after they plead guilty to our government's indictment in 1998, and payed the government back $1.5M? And Scud, if Frequency is an asset to our county, (as you state) why did the Air Force disbar Frequency from doing business with the US Government in that same year (1998). Here's Frequency in their own words:
"By letter dated July 9, 1998, FEI was notified by the U.S. Department of the Air Force of FEI's debarment from Government contracting and from directly or indirectly receiving the benefits of federal assistance programs. The debarment was based upon FEI's guilty plea entered in connection with the Global Disposition and the Settlement Agreement. "