Tremendous Success

It was a real moment of pride for Americans when a Navy cruiser launched a SM-3 missile that intercepted a wayward spy satellite.Congratulations to the men and women of the USS Lake Erie.Their alertness and precision may well have saved lives,money and embarrassment.Bravo Zulu for a job well done!As far as can be ascertained,the satellite was obliterated,fuel and all.

Aircraft Delivered

The EA-18G Growler is being flight-tested.It was delivered to the Navy ahead of schedule,under budget and under weight.This electronic attack aircraft is built by the Hornet Industry Team of Raytheon(RTN),General Electric(GE),Northrop Grumman(NOC) and Boeing(BA).Its excellence has earned it the 2007 Flight Awards Defense Product of the Year.Based on the F/A-18F Super Hornet strike fighter,the Growler detects,identifies,locates and suppresses hostile emitters with onboard weapons such as the HARM missile.It should enter service next year.

Outperformers

Bear Stearns(BSC) has an outperform on Wal-Mart(WMT).Cowan and Company has upgraded Imclone Systems(IMCL) to outperform from neutral.

Next Week

Because of an appointment,I may not be able to post next Wednesday.Instead,I will try to post another day.

One Navy Pilot To Another

President George H.W. Bush has endorsed Senator John McCain(R-Arizona) for president.President Bush was a naval aviator in World War II,while Senator McCain was one in the Vietnam war.It was so good to see those two patriots and good public servants together.They are truly of a stature that is becoming rare in the ranks of government today.It's a blessing to have such leaders among us,spreading their integrity.

UBS Upgrades

UBS has upgraded Glaxo Smith Kline(GSK) and Safeway(SWY) to a buy from neutral.

Honors

A U.S. Navy SEAL was killed in action in Iraq.Petty Officer 1st Class Luis A. Souffront,of Miami,died on 7 February.He was 25.Petty Officer Souffront was assigned to a SEAL team in Virginia Beach,Virginia.