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BRIEFCASE PENTAGON TRYING TO KEEP FIGHTERS.


Byline: - Staff and Wire Services

WASHINGTON - The Pentagon needs to make a case to keep the F/A-22 fighter program in the face of vastly increased costs and technical problems, congressional investigators say.

The General Accounting Office, an arm of Congress, said in a report that the military can now afford only 218 of the planes within a $36.8 billion spending cap. The Air Force originally planned to buy 750 but has since reduced the number to 277 - which it still says it can afford once it makes the program more efficient.

The F/A-22 Raptor, intended primarily as a stealthy stealth·y  
adj. stealth·i·er, stealth·i·est
Marked by or acting with quiet, caution, and secrecy intended to avoid notice. See Synonyms at secret.
 replacement for the F-15 Eagle, was built to shoot down other planes. Unlike its predecessor, the F/A-22 can fly at supersonic speeds supersonic speed: see aerodynamics.  for long ranges.

The Air Force is also trying to make the F/A-22, for which Lockheed Martin For the former company, see .

Lockheed Martin (NYSE: LMT) is a leading multinational aerospace manufacturer and advanced technology company formed in 1995 by the merger of Lockheed Corporation with Martin Marietta.
 Corp. is the prime contractor, more useful by giving it the ability to attack ground targets. But that is making it even more expensive, to the tune of $11.7 billion, and adds significant technical challenges, the GAO says.

GM to put stability controls on vans

DETROIT - General Motors Corp. said Monday that it will begin installing stability control systems on its 12-passenger vans in the 2005 model year.

The announcement comes a day after Ford Motor Co. said it will begin putting stability control in its 15-passenger vans in 2006. GM made stability control a standard feature on its 15-passenger vans starting with the 2004 model year.

GM's stability control system, known as StabiliTrak, uses sensors to determine the direction the driver wants to go in and applies brakes to the wheels if it senses the driver is going off course. Studies in Europe and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  have indicated that the systems prevent crashes.

Nortel financial leaders on leave

TORONTO - Nortel Networks (Nortel Networks Limited, Brampton, Ontario, www.nortelnetworks.com) A world leader in telecommunications products, which includes switching, wireless and broadband systems for service providers and carriers, telephones and systems for residential and business users, computer telephony  Corp., the maker of telecommunications equipment, on Monday said it put its chief financial officer and controller on paid leave while it reviews its financial statements.

The suspensions come after Nortel last week said it was likely to again restate re·state  
tr.v. re·stat·ed, re·stat·ing, re·states
To state again or in a new form. See Synonyms at repeat.



re·state
 results for 2003, and possibly earlier periods as well.

Shares of Nortel dropped $1.19, or 19 percent, to end Monday at $5.24 on the New York Stock Exchange New York Stock Exchange (NYSE)

World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City.
.

In December, the Brampton, Ontario Brampton (IPA: ˈbræmptən, ˈbræmtən) is a city in the GTA of Ontario, Canada and the seat of Peel Region. As of the 2006 census, Brampton's population stood at 433,806. , company restated results for 2000 through the first two quarters of 2003 due to $900 million in liabilities that were either recorded incorrectly or not properly released in the appropriate periods.
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Copyright 2004, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Title Annotation:Business
Publication:Daily News (Los Angeles, CA)
Date:Mar 16, 2004
Words:413
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