Fiscal Cliff Deal: The can was kicked down the road and Wells Fargo has this assessment on the affect on the Defense Department:
Sequestration Postponed. The bill passed does not prevent the sequestration procedure from automatically reducing defense spending by $500B over the next ten years, including $50-55B of potential reductions from FY2013. Instead, it postpones the deadline for an agreement from January 2, 2013, to March 1, 2013,–a two-month extension. At that time, the DoD will have three weeks to determine how the sequestration will be implemented, with the reductions kicking in on March 27, 2013, rather than on the same day under the original sequestration legislation. The lack of planning time for the sequestration contributed to the uncertainty of its impact, which the new legislation appears to resolve.
Boeing v Airbus: It certainly looks like Boeing sold more airplanes in 2012 than Airbus, but the annual Airbus press conference is January 17 and you never know what last minute orders John Leahy has up his sleeve. We doubt Boeing is celebrating just yet.
Desert Airplanes: It’s an old story for those of us who follow this sort of thing but the photos are always interesting. CNN has this story, with pictures, of where airplanes go to die.