GUAM – Another $600 billion in second-round cuts to defense spending that could be triggered by the debt ceiling law would bring irreversible damage to all military services and the defense industrial base, according to testimony by service chiefs today in Washington.

GUAM – With the U.S. federal government set to run out of money in 16 days and Capitol Hill still deadlocked over a long-term national spending package for this year, the 2012 budget outlook for the Pentagon and its military buildup in Guam remains elusive.

GUAM – From performance reports of publicly traded corporations to the latest happenings at local upstarts and every size company in between, Guam Buildup News presents a weekly roundup of notable news for the island's business community.

Editor's Note: This story first appeared over the weekend in the Guam Buildup News e-newsletter and is made available now at the web site.

GUAM – The U.S. Department of Defense's work to relocate Pacific Air Forces' expeditionary training centers from the Korean peninsula to Guam marked another milestone this week when the joint military forces cut the ribbon on a professional vehicle maintenance facility for an engineer squadron at Andersen Air Force Base's Northwest Field.

GUAM – Congress's deficit super committee produced two competing plans on Wednesday that reveal Republicans and Democrats remain far apart on the question of how to shave the nation's alarming deficit, exacerbating worry that Congress will miss its deadline to prevent devastating across-the-board cuts in U.S. defense and social programs.

GUAM – The U.S. Defense Department reports that Defense Secretary Leon Panetta and Japan Defense Minister Yasuo Ichikawa, punctuated their first ministerial yesterday with a press conference in Tokyo where both reaffirmed their governments' commitment to the Asia-Pacific troop realignment roadmap and strengthening the U.S.-Japan military alliance. Mr. Panetta specifically mentioned the plan to move Okinawa-based Marines to Guam as well.

GUAM – On his first trip to Asia as Secretary of Defense this week, Leon Panetta has repeatedly told Pacific allies that the United States intends to grow its resources in the region by continuing to build regional cooperation and fulfilling a long delayed a troop realignment agreement with Japan.