Fortune February 28 2011 America's Hottest Export: Weapons, Conan O'Brien on Twitter, Jeff Imelt/GE, Ted Forstmann's Bad Bet, World's Most Admired Companies, How to Switch to the Verizon iPhone Review

Fortune February 28 2011 America's Hottest Export: Weapons, Conan O'Brien on Twitter, Jeff Imelt/GE, Ted Forstmann's Bad Bet, World's Most Admired Companies, How to Switch to the Verizon iPhone
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Fortune February 28 2011 America's Hottest Export: Weapons, Conan O'Brien on Twitter, Jeff Imelt/GE, Ted Forstmann's Bad Bet, World's Most Admired Companies, How to Switch to the Verizon iPhone ReviewAmerica's hottest export is weapons, especially to the Middle East. Saudi Arabia has ordered 84 F-15s - the plane was designed in the 1970s and has been long surpassed by newer planes; the U.S. hasn't bought one since 2001. Sales of weapons are way up - tripling since 2000. U.S. spending on weapons, on the other hand, is expected to decline 30% this decade. To persuade Israel to accept sales to Saudi Arabia etc., we've boosted their military aid by about 25%.
India has agreed to buy transports worth about $5 billion, and is expected to buy $10 billion of new fighters. Acquiring nations also tend to do what the U.S. wants - eg. support Iran sanctions, before and after such deals. Sometimes the weapons come back to haunt us - eg. sales to Iran's Shah, tanks to Egypt.Fortune February 28 2011 America's Hottest Export: Weapons, Conan O'Brien on Twitter, Jeff Imelt/GE, Ted Forstmann's Bad Bet, World's Most Admired Companies, How to Switch to the Verizon iPhone Overview

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