harry does that mean no more back handers ...no more contracts, they are going to have to find a new modus operandi pretty fast.

ha bloody ha! ..... what's the diff between a secondary commission and a bribe? ..... bugger all, except that BAE didn't show secondary commission in its books, as that would have pointed the finger too precisely ..... whole thing was just sour grapes by Boeing and/or Lockheed.

everyone knows that if you want to do biz in many areas of the world, the wheels have to be oiled

I have never actually owned this share but for some reason it's my number 1 SB beginning of December for the last 4 years, it just seems to like Xmas :o) Goes down in Jan and then just meanders with the occassional rally during the year, amazing! Sorry that is no help whatsoever just something I have noticed.

Big company but seems to be run by those with little concern for shareholders.

"BAE Systems plc has today agreed the sale of half of its 20.5% shareholding in Saab AB. The share sale transaction will comprise the conversion of BAE Systems' 1,047,180 Saab 'A' shares to Saab 'B' shares and the subsequent sale of 11,166,173 Saab 'B' shares to Investor AB for a cash consideration of SEK 1,066 million. If completion occurs after 20 April 2010, the record date for the dividend of SEK 2.25 per share, the price will be reduced by SEK 25 million.

Following completion of the transaction, which is subject to regulatory approval, BAE Systems will retain 11,166,173 Saab 'B' shares. BAE Systems will hold this residual interest as an investment and intends to dispose of it through a market placing in due course."

StockMarketWire.com
"BAE Systems has completed the acquisition of Atlantic Marine Holding Co for $352m in cash.

Atlantic Marine is a vessel maintenance, repair, overhaul, and conversion, marine fabrication, and ship construction services provider with operations at Mayport and Jacksonville, Florida, Moss Point, Mississippi, and Mobile, Alabama. "

Went short yesterday @329.1 initial target 310 tight stop @ 332. Interims due 29th.

Am expecting a re-rating from the brokers now that the VT aquisition has been completed. Am not expecting much downside personally, but you may be right.

Worth a shot Harry, tight stop.

Moved stop to lock in a wee profit to 325 and for risk free trade.

Ignore my post #25 ref VT. I am talking cr*p as it's Babcock buying VT not BAE.
BAE Systems actually bought VT Group's 45% shareholding in BVT Surface Fleet for 346m, which is where my confusion was.
Good luck with the short.

Presumably you had already seen the broker note out today then CC?
"BAE Systems (EW, 375p PT): lack of near-term growth and poor sentiment from defence budget cuts overshadow very attractive valuation and strong export potential. Whilst we continue to believe that the market underestimates both the quality of US defence electronics and BAEs strong export potential, we downgrade to EW because we believe a material re-rating in the stock is unlikely whilst low near-term growth and defence budget cuts persist."

No Harry, been on my watchlist for a while recently lost a good contract to their US rivals and even though their recent aquisition is for long term good, can't help feeling with sentiment for anything British pretty low at the mo in US and defence cuts, shorterm growth not looking good, IMO. May be totally wrong.

Moved stop to 320.1 to lock in a good profit, away to play golf.

Closed position @ 317.1 + 12

"Strong results and upgraded full year profits guidance has not been enough to overcome investor concerns about future prospects for BAE Systems, a situation acknowledged by Nomura Securities decision to slice its price target for the defence systems firm.

The broker is sticking with its buy recommendation despite chopping the price target from 450p to 410p to account for a higher risk premium investors are likely to demand given the increased long-term budget uncertainty in the US and Europe.

Macro concerns about budgetary pressures have kept investors from focusing on the company's structural growth outlook and strong cash generation, argues Nomura analyst Jason Adams."

Still watching Harry, held pretty steady since my last short. Ex Divi 20th Oct. May be worth another short punt.

Good support @ 312.0 , Wee punt long this time @318.5, initial target 330.0

Yes that's my opinion too, although I haven't set a target I can see your logic.

Moved stop to 321.0 to lock in a wee profit and for risk free trade.