SecDef Promises to Defend Against N. Korean Missiles

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

Laugh if you like, but America is taking seriously North Korean threats to "nuke" the continental United States. On Friday, newly installed Secretary of Defense Chuck Hagel held a press conference in which he outlined serious, urgent measures the Obama Administration is undertaking, just in case North Korean dictator Kim Jong-un isn't joking.

Specifically, Hagel announced that "in order to bolster our protection of the homeland and stay ahead of this threat," the U.S. is taking several steps. Chief among them, the Defense Department plans to purchase and deploy 14 additional ground-based interceptor missiles under the Missile Defense Agency's Ground-Based Midcourse Defense program.

Boeing (NYSE: BA  ) manages this program, in which Raytheon (NYSE: RTN  ) AN/TPY-2 radar systems detect ballistic missile launches, which are then hit-to-killed by Raytheon warheads launched atop Orbital Science (NYSE: OA  ) -built missiles. The U.S. currently has 30 such interceptor missiles in its arsenal. Adding 14 more is expected to cost $1 billion. Hagel confirmed that the U.S. will probably draw funds away from Raytheon's SM-3 Block IIB missile, and the European missile defense project for which it was designed, to fund improvements in missile defense on the U.S. West Coast. Other measures announced by the SecDef include purchasing and deploying an additional AN/TPY-2 radar systems to Japan.

The net effect of all these changes, says Hagel, will be "to add protection against missiles from Iran sooner while also providing additional protection against the North Korean threat."

Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2316782, ~/Articles/ArticleHandler.aspx, 9/27/2016 8:18:22 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated Moments ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

9/27/2016 4:00 PM
BA $131.32 Up +0.75 +0.57%
Boeing CAPS Rating: ****
OA $76.76 Up +0.76 +1.00%
Orbital ATK CAPS Rating: *****
RTN $139.11 Up +0.57 +0.41%
Raytheon CAPS Rating: ****