Army Reportedly Set to Cancel Spy Plane Project

From Reuters

The U.S. Army is set to cancel a spy plane project worth as much as $8 billion with Lockheed Martin Corp. because of budget issues and development problems, according to a story on the Wall Street Journal website.

Citing unnamed industry and government sources, the story said the Army might announce that it would end the program as soon as today.

Army spokesmen were not immediately available. Lockheed Martin spokesman Tom Greer said the company had not yet been notified of any changes.