Lockheed Martin Corp. ’s development of software for its F-35 fighter jet, the Pentagon’s largest weapons program, is “significantly behind schedule as it enters its most challenging phase,” according to congressional auditors.
The U.S. Environmental Protection Agency has a new administrator. The director of the Consumer Financial Protection Bureau is finally official, as is the secretary of the Department of Labor. The president of the all- important U.S. Export-Import Bank is safely enjoying his second term.
The development and production cost of Lockheed Martin Corp.’s F-35 fighter, the Pentagon’s most expensive weapons program, has decreased by 1.1 percent, primarily because of reduced labor rates, according to the Pentagon’s latest cost estimates.