In Business This Week
SEAWOLF GETS A STAY OF EXECUTION
Defying President Bush's plans to kill construction of two Seawolf nuclear submarines, the Senate on May 5 voted to restore funding for the subs and slash spending for the B-2 bomber and the Strategic Defense Initiative instead. The move was good news for General Dynamics' Electric Boat factory in Groton, Conn., which is building the first Seawolf and had counted on Navy orders for two more of the $2 billion submarines.
Bush is threatening to veto the Senate's $8.3 billion spending-cut bill. But many Seawolf supporters expect a compromise resulting in an agreement to fund one more sub. The House has already endorsed that plan.EDITED BY HARRIS COLLINGWOOD