The Air Force chief of staff warned that cuts in weapons programs and other spending are likely because of the pressure of the financial crisis. Gen. Norton Schwartz told the Wall Street Journal he expects “additional pressure” on big-ticket programs.

The Air Force must decide next year whether to continue production of its mainstay F-22 fighter, made by Lockheed Martin, and the C-17 Globemaster transport aircraft built by Boeing. In addition, there could be pressure to slow development of the F-35 Joint Strike Fighter, a Boeing project.

Senate Small Business Committee Chairman John Kerry, D-MA, is in line to become chairman of the Foreign Relations Committee in the new Congress, according to published reports. Vice President-elect Joe Biden is vacating the Foreign Relations seat.

After Kerry, the next three members on the majority side of the Small Business panel already head more desirable committees. Sen. Mary Landrieu, D-LA, may succeed to the chairmanship.

Rep. Edolphus Towns, D-NY, has announced he will run for chairman of the House Oversight and Government Reform Committee, which has jurisdiction over procurement issues. Towns is next in seniority among Democrats after outgoing Chairman Henry Waxman, D-CA. Waxman unseated Rep. John Dingell, D-MI, to become chairman of the Energy and Commerce Committee.

Towns headed the Oversight Subcommittee on Government Management, Organization and Procurement.

House Democrats will vote on the chairmanship in December.

Businesses owned by women of color are growing three times faster than all U.S. firms, according to the Center for Women’s Business Research.

“The face of women entrepreneurship is changing,” the center’s chair, Margaret A. Smith, said in releasing its ninth biennial report. “Today, women of color represent 26% of all women business owners — up from 20% just a few years ago.”

As of 2008, there are 2.3 million firms 50% or more owned by women of color, providing 1.7 million jobs and generating $235 billion in revenues, the report says. Between 2002 and 2008, the number of those firms grew 30%, while all other businesses grew 9%. Revenues for those businesses grew 35%, compared to 15% for all other firms, and employment grew 22% compared to 2% for all firms.

Among women of color, Latinas have the largest number of businesses, an estimated 747,108 firms employing 430,000 workers and generating revenues of nearly $62 billion in 2008. African American women own the second-highest number of firms, 734,664, employ 281,055 people and have revenues of over $32 billion. Asian-American women own the third-largest number of businesses, 627,837, but their firms tend to be larger, employing 898,240 people with revenues of $128 billion.