Sen. Jay Rockefeller said "scoundrels" are targeting members of the armed forces.
The defense giant grapples with budget cuts.
Boeing and Lockheed Martin are joining forces to bid on the Pentagon’s new bombers, the companies announced Friday.
The House-Senate budget committee is the new target for the defense industry as it looks for a way to get rid of sequestration.
Defense industry suppliers delivered ...
Boeing reported Wednesday that its profits increased by 12 percent in the third quarter on the strength of the company’s commercial aerospace business.
Boeing reported a profit of $1.2 billion in the third quarter, up from $1 billion last year, and raised its earnings forecast for the year.
The increased profits come as the company’s defense units are grappling with sequestration. Boeing’s increased profits were fueled by its commercial business, where its operating margin rose to 11.6 percent.
Lockheed Martin reported Tuesday that its profits increased by 16 percent despite defense budget cuts and sequestration.
Lockheed, the largest U.S. defense contractor, reported third-quarter profits of $842 million, up from $727 million last year.
The defense firm also raised its full-year earnings expectations to $9.40-$9.70 per share, up from $9.20-$9.50 in its second-quarter report.
Federal government workers weren’t the only ones facing furloughs during the government shutdown as many defense firms also put their workers on unpaid leave.
Now those furloughs are coming to an end, too.
Lockheed Martin said in a statement Thursday that the 2,400 workers it furloughed during the shutdown would be “back to work soon.”
Lockheed Martin said Monday it was cutting the number of employees facing furloughs due to the government shutdown to 2,400, down from the 3,000 it planned to furlough Friday.
Lockheed was able to trim its staff furloughs due to Defense Secretary Chuck Hagel’s announcement Saturday that most of the civilian workers at the Pentagon who had been furloughed would return to work Monday.
The defense firm said the Pentagon decision “will not eliminate the impact of the shutdown,” but it did ease the pain somewhat.
Lockheed Martin, Boeing and others will furlough thousands if the government shutdown has not ended.
Covington & Burling has hired Roger Zakheim, general counsel of the House Armed Services Committee, as a lobbyist in its defense, homeland, and national security practices.
Zakheim will officially begin work on Nov. 4, and the firm expects him to play a role in its government affairs and global public policy teams.
Timothy Hester, the chairman of Covington’s management committee, called him a “dynamic addition” to the firm.
“He is widely respected across the defense industry and both branches of government for his in-depth knowledge of the budget, public policy, and legal issues facing the sector,” Hester said.