The scramble to realign the nation's defense industry in the face of sliding Pentagon budgets has taken another major turn. Lockheed Corp. will buy General Dynamics' military aircraft operations for $1.5 billion. Though Lockheed chairman Daniel Tellep termed the deal "financially attractive," industry analysts were cautious. Sales of General Dynamics' F-16, among the most successful military aircraft in history, are sharply down, and Lockheed now has two-thirds of the F-22 Stealth fighter program, whose future is uncertain in the tight budget climate.
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