This the world we live in today. Prepare for battle! Discuss… General Dynamics Sees Profits Rise Despite Gulfstream Woes. The AP (4/29) reported, "General Dynamics Corp.'s first-quarter earnings rose 3 percent, beating Wall Street expectations, as sales of warships and other military equipment made up for lower profits from business jets." The company's jump in profits is attributed to "healthy demand for its tanks, submarines and ships," while "its Gulfstream corporate jet business has grown steadily weaker as the global economic downturn hurts air travel." The Wall Street Journal (4/30, B3, Cole, subscription required) reports that Gulfstream "reported a 14% rise in revenue to $1.46 billion as the acquisition of an airplane maintenance and services firm kicked in;" however, "the segment's operating profit fell, by 15% to $200 million, making it [General Dynamic's] only division with lower earnings." Nicholas Chabraja, Generals Dynamics' CEO, said "the unit prospects have improved since February, however," as "jet buyers are returning...with some attracted to lower prices and willing to lose customization options in order to take the place of a previous customer." He also noted that "a new Gulfstream model will fly by year end." Bloomberg News (4/29, Lococo) also covered the story.