Skip to comments.'There is no plan': Looming defense cuts already have contractors shedding jobs
Posted on 01/17/2013 5:50:42 PM PST by RoosterRedux
With a March 1 deadline looming for Congress to once again strike a deal in order to avoid $1.2 trillion in automatic spending cuts -- including $500 billion at the Pentagon -- some companies that rely on the defense industry are already bracing for the worst by canceling contracts and laying off workers.
Kathleen Volandt, president of Auroros, Inc., told Fox News that the constant uncertainty in Washington reduced her total revenues by 56 percent last year. A disabled veteran who employs three full-time staffers and 31 contractors at her Raleigh, N.C.-based information technology company, Volandt said each passing deadline just compounds the problem and brings nearly everything at her company to a standstill.
"We keep having to redo budgets because of contract changes," said Volandt. "We just lost two contracts because of the fiscal cliff. Right now, nobody's moving forward on any projects."
There is plenty of worry in North Carolina, which is home to seven major military installations and thousands of servicemen and women. The North Carolina Defense Business Association (NCDBA), an economic development group that supports defense contractors, said the cuts could be devastating, costing more than 34,000 jobs and more than $1 billion in state gross product losses.
(Excerpt) Read more at foxnews.com ...
You just need to FUBAR everything you touch.
Now, if you were smart...and Chinese...you’d have a small research plant operation just across the border into Canada. You’d offer up very good pay and benefits...even flying your employees up to the site each Monday, and home on Fridays. You’d do lots of great research with those smart engineers that used to work with the Pentagon projects. Over the course of five years....you’d advance on a number of projects.
Some day, the Americans would wake up...ask some stupid questions, and then wonder how those Chinese guys got so smart...so quick.
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