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Session 10 Transforming the Defense Industry
The U.S. defense industry has undergone significant changes over the past twenty years. This session will describe those changes and delve into the policy issues surrounding consolidation, the global defense environment and transatlantic cooperation, greater transparency, emergence of new global threats, and budget constraints.
Presentations
Speakers
Nayantara Hensel
U.S. Naval Postgraduate School
Dr. Hensel recently served as the Secretary of the Navy’s Pentagon Scholar-in-Residence. She is also an Assistant Professor of Economics and Finance at the Graduate School of Business and Public Policy at the US Naval Postgraduate School, where she teaches the MBA Core Finance course and the MBA Advanced Finance course. Dr. Hensel received her B.A. in Economics, magna cum laude, from Harvard University, where she was a member of Phi Beta Kappa. She received her M. A. and Ph.D. in Business Economics (Applied Economics) from Harvard University. Prior to joining the faculty at the US Naval Postgraduate School, Dr. Hensel taught at Harvard University and the Stern School of Business at NYU, was a Post-Doctoral Research Fellow at the NBER, served as a Senior Manager at Ernst & Young and the chief economist for its Litigation Advisory Services group, served as managing economist in the New York City office of LECG, and served as an economist for NERA (part of Marsh and McLennan).
Dr. Hensel’s recent research has examined the efficiency of IPO auctions, economies of scale and density in the European and Japanese banking sectors, the impact of consolidation in the defense industrial base, policy concerns in the recent tanker competition between Boeing and Northrop Grumman / EADS, and the factors impacting personal discount rates. Her most recent publications have been in Business Economics, the International Journal of Managerial Finance, the Review of Financial Economics, the European Financial Management Journal and the Journal of Financial Transformation, and Harvard Business School Working Knowledge. She is the Chair of the Financial Roundtable for the National Association of Business Economists (NABE) and is one of 34 elected members to the National Business Economics Issues Council (NBEIC). Dr. Hensel has given a number of seminars at institutions, including the Federal Reserve Bank of Chicago, the Federal Reserve Bank of Boston, Federal Reserve Bank of Cleveland, London Business School, the Federal Reserve Board of Governors, RAND, and Harvard University. She has been interviewed on the housing market and the current financial crisis on CNBC, Bloomberg Radio, and CNNMoney.
Kenneth A. Minihan
Former Director, National Security Agency, Defense Intelligence Agency, and Managing Director, Paladin Capital Group
Lt. General Minihan is a Managing Director of Paladin and is focused on the development and implementation of new investment opportunities for Paladin's Homeland Security Fund. Prior to joining Paladin, Lt. General Minihan was the 14th Director of the National Security Agency (NSA)/Central Security Service. While at the National Security Agency, he was instrumental in the definition and implementation of the National Information Assurance Program. During his military service, Lt. General Minihan developed extensive experience in making new technologies operational and implementing leading edge services and products in a competitive environment where lives were often at risk. During the last twenty years of the Cold War and the transition to the Information Age, he was instrumental in the definition and selection of technology solutions to solve many difficult national security information needs. Throughout that time, Lt. General Minihan helped set the performance standards for information enterprise operations. Lt. General Minihan was the most recent Chairman and President of the Security Affairs Support Association, which focuses on shared government and industry national intelligence and technology challenges. He also is a member of the Air Force Association, the National Military Intelligence Association and other national organizations. He has substantial experience in capital raising, enterprise operations, business development and business readiness assurance. He devotes considerable attention to and consults on national security affairs. Lt. General Minihan has a B.A. Degree from Florida State University, a M.A. Degree from the Naval Postgraduate School, and has completed executive development programs at the University of Illinois and Harvard University. Among his awards and decorations are the National Security Medal, the Defense Distinguished Service Medal, the Bronze Star, the National Intelligence Distinguished Service Medal, and the Legion of Merit.
Lt. General Minihan represents Paladin on the boards of directors of Arxan Technologies, ClearCube Technology, GlassHouse Technologies and Nexidia.
John Terrence Blake
Deputy Assistant Secretary of the Navy
Rear Admiral John Terence Blake was appointed to the United States Naval Academy from the state of New York, graduating in 1975. His sea duty assignments include: USS New (DD 818), USS Sarfield (DD 837), USS Joseph Strauss (DDG 16), USS John Young (DD 973), USS Chandler (DDG 996), USS Leahy (CG 16), USS Normandy (CG 60), and USS Nimitz (CVN 68).
Blake commanded the destroyer USS O’Brien (DD 975), served on the 7th Fleet Staff as current operations and assistant chief of staff for Operations, commanded the cruiser USS Normandy (CG 60) and as commander, Carrier Strike Group11/Nimitz Carrier Strike Group.
His shore duty assignments include: Flag lieutenant to Commander, Navy Recruiting Command; Naval Post Graduate School where he earned a master’s degree in Finance; Navy Staff (N80) head, Sea Control Section and program manager for the Navy Shipbuilding account; National War College where he earned a master’s degree in National Security; Joint Staff (J8) division chief and head of the Combat Identification Joint Warfare Capability Assessment Team; director, Programming Division (N80); director, Operations Division, Office of Budget in the Office of the Assistant Secretary of the Navy (Financial Management/Comptroller); director, Operations Division, Fiscal Management Division in the Office of the Chief of Naval Operations and deputy director for Resources and Acquisition on the Joint Chiefs of Staff (J8).
Blake is currently assigned as deputy assistant secretary of the Navy for Budget in Washington. He is authorized to wear the Defense Superior Service Medal with oak leaf cluster, the Legion of Merit with four gold stars, the Meritorious Service Medal with two gold stars, the Navy and Marine Corps Commendation Medal with two gold stars and various service and campaign medals.