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Raytheon CEO: We Are Facing Tougher Defense Budgets

Monday, 9 Jul 2012 | 4:40 AM ET

"Right now we are facing a tighter defense budget time, but at the same time world events drive these things and things can change so rapidly that I think where we are right now is a lot of us are reshaping our portfolios to meet the new environment," Tom Culligan, CEO of Raytheon International, told CNBC.