Pentagon to release affordability directives

US Defense Secretary Robert Gates and his chief weapons buyer, Ashton Carter, will announce new rules aimed at eliminating waste in Pentagon procurement on Tuesday and saving money for troops and modernization. Gates and Carter are due to unveil detailed acquisition and procurement guidelines at a news conference early this week as part of Gates' major drive to cut overhead costs by $100 billion over the next five years and safeguard yearly growth of about one percent in defense spending.

Industry executive have largely welcomed Gates' drive, which is part of a push to avert defense budget cuts by members of Congress worried about yawning deficits. Top U.S. defense companies are anxiously awaiting next steps in the Pentagon's belt-tightening process, keen to protect current and new programs and ensure continued work at a time when defense stocks have come under strong pressure.

Read more here