Lockheed Martin has big business in Washington, with Defense Department contracts representing [1] more than half of the company's $46.5 billion in net sales last year. And now, Lockheed has a former top lobbyist in a key position on Capitol Hill overseeing the company.
Former Lockheed vice president Ann Elise Sauer was hired by Sen. John McCain in February as the top Republican staffer on the Senate Armed Services Committee.
The revolving door swings regularly in Washington, but the size of the compensation package Sauer received from Lockheed when she left the company is notable. A financial disclosure form [2] shows the defense giant gave Sauer $1.6 million in compensation around the time she took a buyout [3] in January 2011.
At the moment, the stakes for Lockheed in Washington are even higher than usual, with the company leading the military contracting industry's charge to convince Congress to avoid a $492 billion, 9-year cut in military spending set to be triggered in January.
Lockheed CEO Robert Stevens was on the Hill this month warning [4] that the company would have to lay off 10,000 employees if Congress does not make a deal. "Most tragically, we feel we will be unable to provide the equipment and support needed by our military forces," Stevens told the House.
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1 comment:
Next thing you know, Congress will have Harlem's biggest heroin dealer appearing to tell them if he isn't given 5 billion this year, he won't be able to keep the addicts in line and all hell will break loose. I'd believe HIM before I'd listen to ten words from the mouths of people whose job it is to sell bombs, bullets and other weaponry and to scare us into thinking we need MORE. And you Forest Gump, Rah Rah Rah, USA! USA USA! types keeping falling for it....
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