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Author Topic: FRPT 50M$ contract with US Army
Repoman75
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Stops got taken out, daytraders exited.

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Stick with Repo's plan in '07 - FRPT/DKAM!

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Jo4321
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I guess you mean "peculiar" funny, not "ha ha" funny!"

[Smile]

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"Great Day for Up!"....Dr. Seuss

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Jo4321
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Interesting...bad news brings new highs for NAV.

--------------------------------------------

Associated Press
Navistar Hits New 52-Week High
Associated Press 02.07.07, 12:36 PM ET

Shares of Navistar International Corp. climbed in heavy trading Wednesday, after dropping on news that the New York Stock Exchange would go forward with plans to suspend trading of its shares.

The Warrenville, Ill.-based heavy truck maker's shares rose 62 cents to $47.36 in midday trading, after bottoming out at $45 per share early in the session and then hitting a new 52-week high of $47.66 just a few hours later.

The announcement, made after Tuesday's closing bell, initially sent Navistar shares down more than 7 percent in the aftermarket trading.

Navistar said last month that it wouldn't be able to file its annual report with the Securities and Exchange Commission by the Feb. 1 deadline as a result of an ongoing accounting review. The company is in the process of restating financial results back to 2002.

Navistar plans to appeal the delisting and expects to be quoted on the over-the-counter electronic bulletin board known as the Pink Sheets once the NYSE suspends trading in its shares at the end of trading Feb. 13.

JPMorgan's Stephen Volkmann said that while the stock may trade lower in the near term in light of the news, the long-term impact should be minimal. He kept his "Overweight" rating on the company.

"Navistar remains a high risk/high reward story, in our view," Volkmann wrote in a note to investors.

"This delisting decision was expected, and does not reflect any new information on the company. In fact, putting this behind us should give interested investors a chance to participate in a story with one less risk ahead of it."

David A. Bleustein of UBS Investment Research maintained his "Neutral" rating and $50 price target for the stock.

"We believe that merger and acquisition related speculation will continue to support the stock's price despite company specific (delisting, accounting/financial) risks and expectations of a severe industry downturn in 2007," Bleustein said.


Copyright 2006 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed

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"Great Day for Up!"....Dr. Seuss

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Repoman75
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I'll take .96 a day.

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Stick with Repo's plan in '07 - FRPT/DKAM!

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Slimpickens
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one day closer to financials!!!!!!!
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Repoman75
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Looks like the PP sellers are done, shorts have covered.. we will wade here until financials or news. Good time to buy in.

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Stick with Repo's plan in '07 - FRPT/DKAM!

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Slimpickens
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greeeeeeeeeeeeeeeeeeen now

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Slim

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Slimpickens
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anyone know whats up

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Slim

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Jo4321
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Seems like it follows this same pattern a lot. Up in the morning, followed by a downtrend and then flat for a while. Then towards the end of the day, folks don't want to be caught out if a contract is announced by DoD after hours, price goes back up.


Jo

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"Great Day for Up!"....Dr. Seuss

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Jo4321
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Mention on ABC news. (thanks to goodground on IV)
http://www.abcnews.go.com/WNT/story?id=2858028&page=1

We went through Ramadi yesterday with one of the generals, and you could not believe the vehicles that we were riding in. There's a vehicle called a Cougar that they've recently adapted to the streets here, and that has handled IEDs very, very well. The general was driving in that vehicle and the Humvees are heavily armored. But still it's very dangerous.

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"Great Day for Up!"....Dr. Seuss

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Jo4321
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CNN!

(heads up from defenseeg at IV)

quote:
Force Protection Industries, Inc. and its Buffalo armored vehicle will be featured in the Cutting Edge Designs segment of CNN's Headline News multiple times starting Friday, February 9th through Sunday, February 11th. Approximate air times are as follows:

Force Protection Industries, Inc. and its Buffalo armored vehicle will be featured in the Cutting Edge Designs segment of CNN's Headline News multiple times starting Friday, February 9th through Sunday, February 11th. Approximate air times are as follows:


Friday, between 7:00 AM EST and 7:30 AM EST.
Friday, between 12:30 PM EST and 1:00 PM EST.
Friday, between 5:00 PM EST and 5:30 PM EST.
Saturday, between 1:30 PM EST and 2:00 PM EST.
Sunday, between 9:30 AM EST and 10:00 AM EST.
Sunday, between 3:30 PM EST and 4:00 PM EST.


Missed the first showing already. Looking forward to 12;30 or so.

Jo

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"Great Day for Up!"....Dr. Seuss

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lostone
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so how was it?! anyone caught the segment?

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lostone

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Repoman75
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Short, but positive.

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Stick with Repo's plan in '07 - FRPT/DKAM!

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Repoman75
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Catalyst update... predicting a buyout in 2nd half of '07...

http://catalystresearch.biz/files/FRPT_Update_Report_02_12_07.pdf

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Stick with Repo's plan in '07 - FRPT/DKAM!

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Jo4321
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Another article from our friend Melissa from the street . com

(edited link, scroll to my next post for the text of the article)

Probably will be a rocky day with good buying opportunities.

Jo

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"Great Day for Up!"....Dr. Seuss

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Repoman75
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She even spelt the name of PVI's CEO wrong.. dumb *****.

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Stick with Repo's plan in '07 - FRPT/DKAM!

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Jo4321
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Here's the article. Read it here instead of clicking the link. Clicking the link will probably just help it become one of the street's "TOP TEN"

Force Protection Is Haunted by Past

A possible threat to Force Protection (FRPT - Cramer's Take - Stockpickr) hits close to home.
The South Carolina-based defense contractor has no shortage of rivals in bidding on a huge Defense Department order for blast-resistant military trucks. Nine companies have been asked to supply test vehicles under the multibillion-dollar contract.

But some of Force Protection's stiffest competition may come from nearby -- from a company based across the state that is run by Force Protection alumni.

The closely held company, called Protected Vehicles, employs two senior executives -- CEO Garth Barrett and CFO Thomas Thebes -- who helped transform Force Protection into what it is today.

After serving as a military leader in South Africa, Barrett helped bring that country's blast-resistant technology to the U.S. He founded Technical Solutions Group, a maker of blast-resistant vehicles, in 1997 and sold the company to Force Protection five years later. Before then, Force Protection was a sinking recreational boat seller known as Sonic Jet Performance.

At first, Garrett stayed on as Force Protection's chief technology officer. But he finally left in 2005, when the company tapped Gordon McGilton -- part owner of a leadership training outfit -- as its CEO. Thebes soon followed Garrett out the door and became CFO of Garrett's new privately held company.
Garrett declined to elaborate on his departure from Force Protection because he felt that the situation could get "ugly." Meanwhile, Thebes simply said that he left the company "for sound professional reasons."

Today, Protected Vehicles employs both military and manufacturing veterans in its executive suite. The company has been strengthening its regular workforce as well. The company plans to hire another 400 people in anticipation of big orders, which would more than quadruple its current staff.

Of course, Force Protection has expanded already. The company boasts nearly 800 employees and a partnership with heavyweight defense contractor General Dynamics (GD - Cramer's Take - Stockpickr - Rating) to boot.

Given its current strength and the track record of its vehicles, Force Protection feels unthreatened by Protected Vehicles or other players that may be trying to copy its success.
"Competition is one of the higher forms of flattery," Force Protection Vice President Michael Aldrich told TheStreet.com. "It means you have something worth taking -- or trying to take."

Still, Protected Vehicles clearly plans to succeed. The company points out that the government is widely expected to choose several companies to make the new vehicles rather than lavishing the whole huge contract on one lucky winner.

"That would be a heck of a thing for any one contractor to accomplish on its own," says Drew Felty, program manager for Protected Vehicles. In industry circles, "it has been reiterated several times that two to three contractors are expected to receive high-volume awards. ... We're very confident that we're going to be part of that final selection group."

To be sure, Protected Vehicles still has to prove itself. While Force Protection has already supplied hundreds of vehicles for the war on terrorism, with riders suffering almost no fatalities, Protected Vehicles has been busy playing catch-up. Still, the company says that it has enjoyed some early success in Israel and, like Force Protection, has even "partnered with a major defense contractor" -- to be revealed soon -- here in the U.S.

Some have compared Protected Vehicles' new Alpha to Force Protection's popular Cougar, but with superior body-protection features.
"We've got a long history of understanding mine protection," Barrett explains. And "obviously, you don't build a vehicle to be second-best."
Force Protection isn't shy on confidence, either.

In mid-December, Force Protection raised $153 million by selling 13 million shares of stock to institutional investors in a private placement. Afterward, McGilton publicly thanked those investors for their faith in the company.
In fact, however, that select group of investors had almost nothing to lose. They paid just $11.75 for their Force Protection shares -- with the stock fetching nearly $15 and rising. Then, as promised in advance, Force Protection turned around one month later and filed the paperwork necessary for those investors to start dumping their shares.

Only after private-placement buyers registered to sell their shares -- with Force Protection shifting from the OTC Bulletin Board to the more liquid Nasdaq -- did the stock reverse course and come under intense pressure. The shares did regain some ground this week, closing at $19.02 on Friday.

Even a local South Carolina money manager seems worried about the stock.
Early on, Paul Meeks recommended Force Protection to readers of the business-oriented Charleston Mercury newspaper. Now, however, Meeks feels increasingly uneasy about the company. Looking back, Meeks finds it odd that the local company never responded to his original questions about its well-timed stock option grants. He has found plenty more that troubles him since then.
For starters, in his recent column for the Mercury, Meeks called Force Protection's latest private placement "as unusual as it's disturbing." He fretted over heavy insider selling as well.

Meeks also took a close look at Force Protection's operating results. He saw a gross margin that was less than half of normal and a research and development budget that was almost nonexistent.

"This is not the mark of a technologically advanced company that's properly funding future product development," Meeks declared in the Mercury. And "if FRPT isn't a technology leader, it shouldn't be valued by investors as such."
Meeks recommends that long-term investors sell Force Protection shares short in anticipation of a correction down the road. He has no financial stake in the company himself.

For its part, Force Protection promises better times ahead. Before, Aldrich says, the company was rushing to meet the "urgent operational needs" of soldiers on the ground and had little interest in maximizing profits while doing so. But with help from its big partner, Aldrich says, the company now expects to deliver "dramatically improved" cash flow this year.

--------------------
"Great Day for Up!"....Dr. Seuss

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lostone
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crap, that's why we going down..

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lostone

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Jo4321
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most likely.

I'm looking to buy back those shares I sold at $19.10, but I wonder just how low the "street effect" will take it.

Jo

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"Great Day for Up!"....Dr. Seuss

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lostone
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dang, would have been nice to play the ups and downs on this one.. stupid me for just holding.. and now it's down to the wire.

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lostone

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Slimpickens
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one day closer to financials
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Jo4321
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Well, decided to buy those shares back at $18.05.

Hope tommorrow is a lot better than today was!

Jo

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"Great Day for Up!"....Dr. Seuss

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Repoman75
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Great buy in the long run.

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Stick with Repo's plan in '07 - FRPT/DKAM!

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TimW
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When they repost lines like this:

"recommends that long-term investors sell Force Protection shares short in anticipation of a correction down the road"

No brainer to their position on it. Hope they get burned bad on this one.

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Jo4321
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YESSS!!!

http://biz.yahoo.com/bw/070214/20070214005541.html?.v=1

Force Dynamics Announces $67 Million U.S. Marine Corps Contract
Wednesday February 14, 8:45 am ET


LADSON, S.C.--(BUSINESS WIRE)--Force Dynamics, LLC--a joint venture between Force Protection, Inc. (NASDAQ: FRPT - News) and General Dynamics Land Systems, a business unit of General Dynamics Corporation (NYSE:GD - News)--today announced it has received a $67.4 million contract award from the U.S. Marine Corps to produce 125 vehicles for its Mine Resistant Ambush Protected (MRAP) vehicle program.
ADVERTISEMENT


Under this latest delivery order, Force Dynamics will produce 65 Category I and 60 Category II MRAP vehicles that will be used by all branches of the armed forces. Force Dynamics also announced it will deliver the vehicles within the next 120 days. The MRAP competitive action for the first year's estimated requirement for 4,100 vehicles has an approximate value of $2 billion.

"This is a huge development for Force Dynamics," said Force Protection COO Raymond Pollard. "This joint venture was formed precisely for this purpose: to mobilize quickly on any action item announced by the Marines as the MRAP program moves forward. With advanced proprietary vehicle designs and significant manufacturing capacity, Force Dynamics has the capability to make an immediate and strategically important impact on the war on terror while establishing itself as a leader in the U.S. defense industry. We look forward to further supporting this program as it issues future contracts."

"Our team is committed to the rapid delivery and fielding of Mine Resistant Armor Protected vehicles to the Marine Corps," said General Dynamics Land Systems' Ground Combat Systems Senior Vice President Mark Roualet. "The joint venture management team is in place; our processes are established and tested; we look forward to supporting this critical effort."

Force Protection's Cougar and Buffalo vehicles have been deployed with U.S. and Allied forces in Iraq and Afghanistan since 2003. The vehicles have withstood more than 2,000 IED and mine attacks, and are credited by soldiers with saving lives.

"These vehicles are a highly effective, proven solution to counter IEDs and other explosive threats," said Marine Corps Systems Command Captain Jeff Landis. "No other vehicle has matched those of Force Protection for troop safety in the field."

About Force Protection

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cpeed
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Alright!

Hey Joe, im glad you caught a break and bought in the day before the news, instead of last time when you sold around 8, right before the news!

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Jo4321
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LOL! Yeah me too!

I was just guessing yesterday, but I thought I'd buy just before close so that if I needed to sell today I wouldn't have a round-trip.

But I think I'll be holding those shares now!

Jo

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lostone
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they're shorting us.. lol..

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lostone

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Jo4321
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Yet another article from Melissa.

http://www.thestreet.com/_yahoo/newsanalysis/manufacturing/10338902.html?cm_ven= YAHOO&cm_cat=FREE&cm_ite=NA

This one at least focuses on the company and not on stuff in the past, however, she does try here to make the good news sound not so good. As in

quote:
Notably, Force Protection must split the $67.4 million with its joint-venture partner. Moreover, that contract - like a disappointing test order announced last month - looks smaller than some had anticipated.
Then she quotes Daugherty on the January order but because it is in this article today about today's order, folks may think he is talking about today's order.

quote:
"It was somewhat surprising to see such a small award relative to the available budget and desired production timeframe," SunTrust Robinson Humphrey analyst Chris Donaghey admitted after learning about the test orders back in January.
and of course she mentions

quote:
Both Donaghey and McIlree have buy recommendations on Force Protection's stock. Their firms have investment banking ties to the company.
As if to pooh-pooh their recommendations.
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TimW
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Thats fine Ill take 67 million dollar contracts every other week as long as it adds up to that 2 billion!

LOL

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cpeed
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Are the financials going to be released tomorrow after the bell or before?
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Jo4321
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No guarantee that anything will be released tommorrow. They can release any time on or before March 1 (60 days from December 31) according to new SEC rules.

http://www.sec.gov/answers/form10k.htm

Jo

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Jo4321
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Good to see confirmation of what we all figured would happen.

-----------------------------------------

News for 'FRPT' -

DoD May Cut List Of Armored Vehicle Makers Before Big Order
Of DOW JONES NEWSWIRES

WASHINGTON (Dow Jones)--The Army, Navy and Marine Corps plan to buy more than 4,000 new armored vehicles this year, but probably not from every company that received a test contract last month, U.S. Defense Department weapons buyers said Wednesday.

Nine contractor teams won $35 million in test vehicle contracts for the Mine-Resistant Ambush Protected vehicle program, also known as MRAP. The total program is worth at least $1 billion this year, with the potential for thousands of additional orders.

Chief Navy weapons buyer Delores Etter said schedule is the overriding concern as the program goes forward, although cost will also be a factor. The military needs these vehicles quickly and wants industry to ramp up its production capacity.

But not all of the winning teams are likely to get full-production contracts, she said. Right now, the Pentagon is considering a "creative" range of proposals, some of which probably won't pan out.

"I don't think that we're going to have a large number that actually will go to procurement," Etter said at an Aviation Week defense conference. She did not comment on any specific vehicles.

The MRAP winners include General Dynamics Corp. (GD), Force Protection Inc. (FRPT), Armor Holdings Inc. (AH), Textron Inc. (TXT), BAE Systems PLC (BAESY), Oshkosh Truck Corp. (OSK), Protected Vehicles Inc., Navistar International Corp.'s (NAV) International Military and Government LLC, and General Purpose Vehicles LLC.

To get the new vehicles quickly, the Pentagon will be flexible about how it can transport the vehicles and manage spare parts, said Army Maj. Gen. Jeffrey Sorenson. He said it was too early to say whether the new vehicles would stay in the fleet for decades or phase out once there is less of an acute need.

"This is only a short-term fix," said Sorenson, chief Army weapons buyer Claude Bolton's deputy for acquisition and systems management.

The Army and Marines already have started work on a long-term replacement for the Humvee troop transport. This program, known as the Joint Light Tactical Vehicle, could be worth $10 billion over time according to some analysts.

Even though the MRAP program is a gap filler, it still is likely to expand. At a House Armed Services Committee panel hearing this week on Navy and Marine Corps needs, officials cited a need for many more than the 4,060 vehicles in the baseline plan.

"We're looking for approximately 6,800 total vehicles," said Marine Corps Lt. Gen. Emerson Gardner, deputy commandant for programs and resources.

"We're very confident that we'll have multiple companies qualify," Gardner said.

-By Rebecca Christie, Dow Jones Newswires; 202-862-9243; Rebecca.Christie*dowjones.com

(END) Dow Jones Newswires

February 14, 2007 18:23 ET (23:23 GMT)

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"Great Day for Up!"....Dr. Seuss

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Jo4321
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Interesting this PR is updated with a different quote than the first one and stresses that they still are having "a competition" for additional vehicles.

http://www.bloomberg.com/apps/news?pid=conewsstory&refer=conews&tkr=FRPT:US&sid= azSPp5ZDUjnQ

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"Great Day for Up!"....Dr. Seuss

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Repoman75
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F8ck thestreet.com!

The perfect storm is brewing... its all about earnings now..

--------------------
Stick with Repo's plan in '07 - FRPT/DKAM!

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