HII: Cooler heads to prevail

Huntington Ingalls Industries CEO Mike Petters is optimistic that lawmakers will eventually ease budget caps on military spending that’s dampening investment in longer-term weapons research. "Cooler heads have a way of prevailing on something like this," he said. HII is initially insulated from the "sequestration" cuts - given its long-term Defense contracts - but work on new Gulf Coast and Virginia-based ship programs are going to require longer-term investment decisions. Uncertainty has made in difficult for large and small companies to invest in technologies and processes that could drive costs down, he said. DOD is facing cuts of nearly $1 trillion in projected spending over the decade. (Source: Reuters, 12/02/14) Gulf Coast Shipbuilding: HII is building the LPD-17 amphibious ship at its Pascagoula, Miss., shipyard. Petters is hoping lawmakers will fund a 12th LPD-17.