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Lockheed Martin will design, build and integrate combat systems under one contract and, under a separate contract, provide in-service support of the modernization of Canada s Halifax-class frigates. While not all the work is being carried out in Nova Scotia, there is little doubt the additional spending will provide a positive infusion of money for the Nova Scotia economy over the next few years.
Although the awarding of the contracts was announced before the federal election, no contract was actually signed. Before the contract can be signed now, a federal minister who would be responsible for the spending must be appointed, and that has meant any public discussion of what the contract means to the metro area will have to wait until the new federal cabinet is announced.
Lockheed Martin Canada has been involved with the Canadian frigate program from the beginning; the 12 vessels were launched between 1988 and 1995. The company now has about 80 people working on site at CFB Stadacona in Halifax as part of that original arrangement. Now, once the new contract is signed, that number is expected to grow substantially as a result of the frigate upgrade.
One of the stipulations of the new contracts will be that Lockheed Martin move its workers off the Stadacona base to a new location in metro

The Thai cabinet on Tuesday gave the green light to extend full guarantees for bank deposits by another two years until August 10, 2011, Finance Minister Suchart Thada-Thamrongvech said. Tuesday's cabinet decision is in response to the worldwide credit crunch which has left countries with a shortage of funds and at least some panicked investors, who fear that their money will not be safe in banks. In August this year, Thailand approved the guaranteeing of all banking deposits for one year, or until August 2009, and a decreasing proportion of deposits for three years thereafter, with a maximum of Bt1 million per customer per account from 2012 onwards. Mr. Suchart said the extension of full guarantee to bank depositors will help prevent depositors from withdrawing money and making their deposits with banks in the US, Europe and even in some Asian countries such as Singapore, Malaysia and Hong Kong which offer full guarantees to depositors

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