Military-Industrial Complex

(Newser) - Wired has been keeping track of the most ridiculous acronyms the military-industrial complex comes up with. Here’s the latest list of the "Most Awesomely Bad Military Acronyms" (MAMAs, of course):

• Affordable Accurate Robot Guidance (AARG)
• Integrated Precision Ordnance Delivery System (IPODS)
• Multi-Sensor Aerospace-Ground Joint ISR Interoperability Coalition (MAJIIC)

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(Newser) - Italy's biggest defense contractor has agreed to buy DRS Technologies Inc. for $5.3 billion and grab a share of America's defense market, the Wall Street Journal reports. Finmeccanica will purchase the defense-electronics firm for $81 per share, a 32% premium on share price, pending approval by Washington. The deal...

(Newser) - Boeing vowed today to appeal a controversial $40 billion contract to build refueling tankers for the Air Force, the Wall Street Journal reports. "Our team has taken a very close look at the tanker decision and found serious flaws in the process," Boeing CEO Jim McNerney said. The...