January 22, 2010 Vigil
wevigilo February 23rd, 2010
Lockheed Martin is the world’s largest arms manufacturer and the world’s largest arms exporter. Last year it grossed over $42 billion—84% of this from the U.S. government. Its job is finding and implementing ways of killing massive numbers of people. It produces everything from sophisticated weapons systems such as AEGIS to the Trident missile, one of which one alone carries enough explosive power to obliterate most countries. It is one of the world’s largest makers of cluster munitions, which it sells to 14 countries.[i] This last week it happily announced a contract for the new AGM-158 JASSM cruise missile. Lockheed’s web site lists at least 28 countries to whom it sells its products. 13% of its sales are to foreign governments. [ii] Apparently, it is not too careful about how it obtains its orders; there have been over 50 instances of “civil, criminal or administrative misconduct since 1995.” [iii]
Lockheed’s business is business, and it actively seeks more. Last year it wracked up $10.3 million in lobbying expenses, employing a house staff of 36 as well as 41 contract lobbyists..[iv] Recent campaign contributions include funding to both our U.S. Senators and many of our representatives from both parties.[v] Its PAC for political spending spent $1.5 million. Recipients of its philanthropy include numerous Washington think tanks that help formulate our national defense agenda. It sponsors talks in honor of important defense officials and in a recent example of doublespeak that might surprise even Orwell, it has donated $1 million to a United States Institute for Peace. [vi]
This mostly funded by the taxpayers who are providing at least 84% of Lockheed’s profits.
Lockheed certainly recognizes the source of its revenues: war. Bruce Jackson, the a Lockheed VP, was a prominent member of the Project for a New American Century, a group that advocated war against Iraq as early as 1998. Upon leaving Lockheed, he chaired the Committee for the Liberation of Iraq. His efforts were effective. Lockheed’s stock price more than quintupled. Executives have been well-rewarded. Board members each receive over $220,000 in annual compensation. In 2009, Robert Stevens, the CEO, took in $26.5 million. [vii] The so-called revolving door has definitely been swinging of late. According to a May,2008 report by the General Accountability Office, Lockheed currently was employing 221 former senior and acquisitions officials from the Department of Defense.[viii] Their salaries are not disclosed, but we can bet they earn their keep.
In short, Lockheed Martin is working for itself.
Endnotes.
[i] http://www.mineaction.org/downloads/1/netwerk_cluster%20bombs,%20landmines%20and%20banking.pdf
[ii] http://www.lockheedmartin.com/. Click on the tab labeled Global. Another informative document is Lockheed’s 10-K statement filed with the Securities and Exchange Commission. This, and others, may be found through http://www.sec.gov/.
[iii] http://www.pogo.org/pogo-files/alerts/contract-oversight/co-fcm-20090421.html
[iv] “Raptor in dogfight for its future,” http://www.usatoday.com/money/industries/manufacturing/2009-02-25-lockheed-martin-raptor_N.htm
[v] http://www.opensecrets.org/politicians/index.php
[vi] http://www.usip.org/newsroom/news/lockheed-martin-contributes-1-million-endowment-united-states-institute-peace
[vii] “Raptor in dogfight for its future,” http://www.usatoday.com/money/industries/manufacturing/2009-02-25-lockheed-martin-raptor_N.htm; http://people.forbes.com/profile/robert-j-stevens/49897
[viii] Post-Government Employment of Former DOD Officials Needs Greater Transparency
GAO-08-485, May 21, 2008 http://www.gao.gov/new.items/d08485.pdf