The Navy secretary’s misguided war on profits

The Navy secretary’s misguided war on profits
The Navy secretary’s misguided war on profits

In this op-ed, Bill Greenwalt of AEI pushes back on Navy Secretary Carlos Del Toro’s recent criticisms of industry.

By  
Defense companies keep up momentum on share repurchases, despite Navy leader’s criticism

Defense companies keep up momentum on share repurchases, despite Navy leader’s criticism
Defense companies keep up momentum on share repurchases, despite Navy leader’s criticism

Capital Alpha Partners found that buy back amounts at defense contractors were higher this financial quarter for all but only four others since March 2011.

By  
Navy secretary: Divers assessing USS Boxer breakdown, findings to be made public

Navy secretary: Divers assessing USS Boxer breakdown, findings to be made public
Navy secretary: Divers assessing USS Boxer breakdown, findings to be made public

The ship’s problems, and subsequent sidelining, are gaining more attention on Capitol Hill where multiple lawmakers grilled top Navy brass about the vessel this week.

By  
Following last year’s turmoil, SECNAV says Navy should have been buying amphibs sooner

Following last year’s turmoil, SECNAV says Navy should have been buying amphibs sooner
Following last year’s turmoil, SECNAV says Navy should have been buying amphibs sooner

Navy Secretary Carlos Del Toro defended the service’s plans to pause amphib shipbuilding during last year’s budget cycle, despite fierce congressional backlash.

By  
More than 100 lawmakers call for appropriators to restore Navy’s second Virginia-class sub

More than 100 lawmakers call for appropriators to restore Navy’s second Virginia-class sub
More than 100 lawmakers call for appropriators to restore Navy’s second Virginia-class sub

The letter is the latest sign lawmakers have rejected the Navy’s argument that the cut was a strategic one due to a construction backlog, though some key signatures are missing.

By  
Navy is down $1B in munitions from ops in Red Sea, says SECNAV

Navy is down $1B in munitions from ops in Red Sea, says SECNAV
Navy is down $1B in munitions from ops in Red Sea, says SECNAV

The dollar figure from the secretary comes as Speaker of the House Rep. Mike Johnson said he is ready to bring the supplemental funding bill the Navy needs passed to the floor for a vote.

By  
Anduril, South Korean shipbuilder HD Hyundai announce new partnership for autonomous systems

Anduril, South Korean shipbuilder HD Hyundai announce new partnership for autonomous systems
Anduril, South Korean shipbuilder HD Hyundai announce new partnership for autonomous systems

US Navy Secretary Carlos Del Toro has praised South Korean shipbuilders such as HD Hyundai at recent events, encouraging more participation with US industry.

By  
Northrop Grumman-made part ‘significant’ contributor to sub delays: Navy secretary

Northrop Grumman-made part ‘significant’ contributor to sub delays: Navy secretary
Northrop Grumman-made part ‘significant’ contributor to sub delays: Navy secretary

“Now it [the Columbia-class submarine] is delayed by at least a year, leaving no more margin for failure for the rest of the decades-long procurement and delivery schedule,” said Rep. Ken Calvert, chair of the House Appropriations defense subcommittee.

By  
SECNAV says 45-day shipbuilding review will be followed by another review

SECNAV says 45-day shipbuilding review will be followed by another review
SECNAV says 45-day shipbuilding review will be followed by another review

The added layer of bureaucracy comes as Navy brass prepares to testify in front of lawmakers.

By  
From the Red Sea to AUKUS, a look at Sea Air Space day 1 and a preview of Day 2 [VIDEO]

From the Red Sea to AUKUS, a look at Sea Air Space day 1 and a preview of Day 2 [VIDEO]
From the Red Sea to AUKUS, a look at Sea Air Space day 1 and a preview of Day 2 [VIDEO]

Breaking Defense’s Aaron Mehta and Justin Katz cover the major news from the first day of Sea Air Space 2024 and look to day two.

By  
Virginia class budget cut was a ‘real decision,’ not a political ploy: Navy comptroller

Virginia class budget cut was a ‘real decision,’ not a political ploy: Navy comptroller
Virginia class budget cut was a ‘real decision,’ not a political ploy: Navy comptroller

“It is not a Washington Monument ploy. It is a necessary moment that we… need to push through to actually get strategic outcomes,” said Russell Rumbaugh.

By  
In South Korea, Del Toro courts major shipbuilders to set up shop in US

In South Korea, Del Toro courts major shipbuilders to set up shop in US
In South Korea, Del Toro courts major shipbuilders to set up shop in US

Navy Secretary Carlos Del Toro in public has frequently referenced potential subsidies for foreign shipbuilders who establish stateside operations.

By  
In stark warning, Navy secretary tells industry to deliver, not ‘goose your stock prices’

In stark warning, Navy secretary tells industry to deliver, not ‘goose your stock prices’
In stark warning, Navy secretary tells industry to deliver, not ‘goose your stock prices’

“[I] also want you to know that the Department of the Navy is holding companies accountable for poor performance and misconduct,” Secretary Carlos Del Toro said in an unusually pointed keynote speech.

By  
Navy’s Del Toro orders ‘comprehensive’ shipbuilding review

Navy’s Del Toro orders ‘comprehensive’ shipbuilding review
Navy’s Del Toro orders ‘comprehensive’ shipbuilding review

The Navy secretary didn’t say what exactly prompted the review, but the announcement came hours after reports of potential delays with the service’s new frigate.

By