F-35 talks continue

Talks between the Pentagon and Lockheed Martin over the next F-35 production contract may wrap up soon. "I'm hopeful we'll have a settlement before too much time goes by,” Undersecretary for Acquisition Frank Kendall told reporters Monday. Negotiations for the fifth production contract of as many as 30 F-35s have been under way since last year. The first four contracts for 63 jets are exceeding their combined target cost by $1 billion, according to congressional auditors. (Source: Bloomberg BusinessWeek, 07/17/12) Gulf Coast note: Eglin Air Force Base is home of the F-35 training center.