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Mon Dec 12, 2016, 10:17 AM

Trump targets Lockheed Martin's F-35 fighter jet costs

Source: Reuters

(Reuters) - U.S. President-elect Donald Trump took aim at another major defense contractor on Monday, saying the cost of Lockheed Martin's F-35 fighter jet program was too high.

The aerospace giant's shares dropped about 4 percent in early trading after Trump's tweet, while shares of several other defense contractors also weakened.

"The F-35 program and cost is out of control," Trump said on Twitter. "Billions of dollars can and will be saved on military (and other) purchases after January 20th."

Jeff Babione, Lockheed Martin's F-35 program leader, responded by saying the company understands concerns about affordability and has invested millions of dollars to reduce the jet's price.

Read more: https://www.google.com/amp/mobile.reuters.com/article/amp/idUSKBN1411HF?client=safari



For once he's said something I agree with.

15 replies, 2224 views

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 10:20 AM

1. Anymore questions re: our Russian mole

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 10:25 AM

2. That is some low hanging fruit he's picking.

Few F-35 supporters outside of L-M's sphere of influence.

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 10:27 AM

3. Shiny object/distraction

Means he's having a bad time with the real story of the moment.

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 10:27 AM

4. Corrupt Trump is freakin' insane.

There isn't a store you go to to buy fighter jets.

We don't go offshore for them, like TVs and iPhones.

On the other hand, screwing with Lockheed Martin will seriously speed up his removal from office!

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 10:29 AM

5. I agree but wait until he finds out how things work

The Pentagon brass sees POTUS's as temps and they are much more interested in making sure they have their retirement military contractor job liked up.

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 10:29 AM

6. What sort of payoff is he looking for now? Preferred stock?

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Response to Ford_Prefect (Reply #6)

Mon Dec 12, 2016, 11:01 AM

9. Probably want Putin to put his name on the Kremlin after he buys new Russian jets

 

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 10:30 AM

7. Remember, he's working for the Kremlin now. In that light, wouldn't he

want to make us weaker? If we have better planes than Russia, that disadvantages Russia.

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Response to shraby (Reply #7)

Mon Dec 12, 2016, 11:33 AM

11. Its a distraction as the f-35 has been in the news for years about the problems and the cost so this

is not some major revelation by him to the american people.

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 10:59 AM

8. But Trump probably wants to eliminate unions and reduce workers' pay to save costs

Make fewer employees work harder at lower pay. I doubt he wants the highest executives to take any pay cuts.

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 11:07 AM

10. What's with his focus on aircraft?

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 11:45 AM

12. So he's gone after Boeing and Lockheed.

He must own shares in General Dynamics.

-- Mal

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Response to malthaussen (Reply #12)

Mon Dec 12, 2016, 12:16 PM

13. Or more likely in Mikoyan

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Response to Calista241 (Original post)

Mon Dec 12, 2016, 12:20 PM

14. Comrade Trumpski figures using Nukes on Middle East and China are soooo much cheaper...

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Response to Calista241 (Original post)

Tue Dec 13, 2016, 01:47 AM

15. There are 2.88 million LMT shares held short

http://shortsqueeze.com/shortinterest/stock/LMT.htm

Notice that every time Trump goes off on some company that's got quite a bit of short interest, like Boeing the last time Trump went off, that company's shares drop - EXACTLY what a professional short needs to happen.

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