Electronic file, we are making we are innovating as we go through this process with our customer. This has been a concurrent program. So we concurrently have developed, produced and sustained this aircraft and the products that we utilize to do that. An electronic equipment log book contains quite a bit of sophisticated engineering information. It doesnt simply just track a part. It includes technical data, graphical data, and data, it contains a lot of different information. Through the business process there are elements that we can corrupt this data. It can be presented that way or a customer can misinput information and so there are a lot of complexities relative to the book and we have worked with the jpo and weve seen improvement up to 83 ready for issue, and im fully committed to supporting that continued engagement to resolve those issues going forward. Im also committed to meeting with the Defense Contract Management Agency as well as the jpo to sit down and reconcile the conc
The chair is authorized to declare a recess at any t time i now recognize myself for an Opening Statement. Good morning todays hearing will focus on the f35 joint Strike Fighter a highly technical Stealth Fighter that is the pentagons largest and most costly acquisition programs in cf 35 Program Began more than 20 years ago the department of defense more than 350 billion onts Development Total cost to sustain the program is estimated at more than 1 trillion. Unfortunately this program is plagued by challenges including major problems with maintenance of the aircraft. This hearing will address the many, time and manpower the military is forceded to spend for spare parts from Lockheed Martin. Juneck 2019 the dod Inspector General found over a threeyear period more than 15000 spare parts for the f35 lacked dialogue that maintains Important Information of the spare parts. 2020 Committee Staff from the majority and minority visited multiple military bases and interviewed personnel who maint
I am pleased that it is one we can work in a bipartisan manner. I believe we all want a Strong Military and a strong private sector and a strong government that is wisely tracking taxpayers money and spending it efficiently for the purposes that it was meant for. I look forward to working with the Ranking Member in the future and i am so pleased he is with us here today. Without objection the chair is authorized to declare a recess of the committee at any time and i now recognize myself for an Opening Statement. Good morning. Todays hearing will focus on the f35 joint strike fighter. A highly technical stuff fighter that the pentagon largest and most costly acquisition program. Since the 35 Program Began more than 20 years ago the department of defense has spent more than 350 billion on its development. Total cost to sustain the program are estimated at more than 1 trillion. Unfortunately, this expensive program has been plagued by challenges for years, including major problems with ma
Gold price you look at. December futures are the most heavily traded, and they are closer to 2000 than 1950. It is a conversation as well as real yields continue to grind lower. That sets us up or what you are looking at into the fed on wednesday. What else can they do to offer more . In the meantime, we are waiting for fiscal stimulus in the u. S. What can they deliver and when . Guy that is a question we will learn about in the next few hours. We have this announcement from Mitch Mcconnell, we think that will be around 4 00 eastern or a little after that. It will be fascinating to see where the republicans are and where the democrats are. We know where the democrats are. How big of a gap will there be and can they close that by the time we get towards recess . Alix the other news is the virus, certain areas of the world shutting down again like in spain. Hong kong more restrictions as well. Getting apping after second round of u. S. Funding for an experimental vaccine for covid19. Ta
Next, Defense Department officials testified at a House Oversight hearing on the f 35 joint star fighter jet program. They were asked about maintenance issues and concerns that prime contractor Lockheed Martin provided defective spare parts and Outdated Technology systems for the aircraft. And generalsident manager of the f35 program at Lockheed Martin corporation also joined the hearing remotely to answer questions from lawmakers. The committee will come to order. Like to all, i would congratulate Ranking Member komar. This is his First Full Committee Hearing as a ranking i believe we are want a strong private military, strong private sector that is widely tracking taxpayers money and spending it efficiently for the purposes that it was meant for. I look forward to working with the Ranking Member in the future and i am so pleased that he is with us here today. Without objection, the chair is authorized to declare recess of the committee at any time, and i now recognize myself for open