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| Article Title | Sentiment | Date | Summary | Stock | Id | Author |
|---|---|---|---|---|---|---|
| Article Title | Sentiment | Date | ||||
| Northrop Grumman Wins $80 Billion Long-Range-Bomber Contract; Boeing And Lockheed Martin Express Disappointment | -11 | 2015-10-28 00:04:01+00 | After those lines are discontinued, there are no future combat manufacturing deals on the table for Boeing, Defense News reported. “We will have further discussions with our customer before determining our next steps,” the news release from Boeing and Lockheed stated. The Northrop victory breathes new life into the ailing company, which has been struggling to keep a grip on the combat aircraft market in recent years. Less than an hour after the announcement, a joint news release from Northrop’s much bigger rivals expressed “disappointment” and suggested they might appeal the Pentagon's decision. But while Boeing's future in combat aircraft looks problematic, Lockheed has fewer worries: The Defense Department has said it plans to continue buying the company's F-35 for the next 35 years. | LMT | {} | 917 |
| Lockheed Nuclear Subsidiary Fined for Paying Lobbyists with Federal Funds | -14 | 2015-08-24 10:06:37 | The Justice Department barred Sandia Corporation from paying its multi-million dollar settlement and associated legal costs from its direct federal contract revenues. The payment by the Sandia Corporation, a wholly-owned subsidiary of Lockheed Martin that operates Sandia National Laboratory in Albuquerque, resolved claims that the corporation violated two laws that bar such a use of federal funds. The amount represents 8 percent of the bonus payments Sandia Corporation received while the lobbying effort was under way, according to federal contract records. Sandia admitted no wrongdoing, the department’s release said, but a spokeswoman for the lab expressed the corporation’s regret in a statement. “At the time of the activities, Sandia believed our actions for a contract extension fell within allowable cost guidelines,” Heather Clark said. | LMT | {"Center For Public Integrity","Patrick Malone"} | 395 |
| Lockheed Sues Pentagon Over Truck Deal | -22 | None | Lockheed is concerned about new documents that emerged during its challenge to the Oshkosh award, according to a person familiar with its legal challenge. ENLARGE A Lockheed Martin production-representative vehicle undergoes testing at the company's headquarters in Grand Prairie, Texas, in this handout picture. Photo: ReutersLockheed Martin Corp. LMT 0.01 % said Thursday that it is suing the Pentagon over its handling of a $6.75 billion military truck deal awarded to Oshkosh Corp. OSK 0.64 % in a move that could challenge efforts to start delivering Humvee replacements to the Army next year. AM General LLC, which had also bid on the truck, elected not to lodge a protest. Oshkosh shares were recently down 1.5% at $39.74, with Lockheed off 0.4% at $216.67. | LMT | {"Doug Cameron","Doug Cameron Dowjones Com"} | 460 |
| Lockheed Martin Files Lawsuit Against Pentagon Over $6.75B Humvee Contract | -14 | 2015-12-18 10:22:15+00 | Lockheed Martin Corp. said Thursday it has filed a lawsuit against the Pentagon over its decision to award a $6.75 billion contract to Oshkosh Corp. for the replacement of the U.S. Army's Humvee combat vehicles. However, the GAO rejected the challenge despite the late discovery of several documents that Lockheed said provided new grounds for protest. “After careful consideration of all options, Lockheed Martin decided to file a complaint with the Court of Federal Claims concerning our Joint Light Tactical Vehicle (JLTV) contract award process,” the Maryland-based defense contractor said, in a statement, according to Bloomberg. It remained unclear whether Lockheed sought an injunction that would force Oshkosh to again stop work. In recent years, protests over defense contracts have become increasingly common because of a relative lack of long-term military equipment deals. | LMT | {} | 461 |
| Lockheed Martin, Boeing Drop Northrop Grumman Bomber Contract Protest | -7 | 2016-02-27 06:38:28+00 | The move comes after the GAO upheld Pentagon’s contract to Northrop last Tuesday despite opposition from Lockheed and Boeing. The Pentagon gave Northrop the stealth bomber contract after meeting the U.S. Air Force's criteria. "[The] Lockheed Martin team has decided not to pursue further challenges to that award, either through the [Government Accountability Office] or in federal court," the world's largest defense contractor said in a statement, according to Sputnik News. This decision was taken, as always, with the best interests of our customer and the warfighter in mind,” Boeing said Friday, in a statement. Boeing Co. and Lockheed Martin Corp. announced Friday that they will not pursue further actions challenging the Pentagon to overturn an $80 billion contract awarded to rival Northrop Grumman Corp. Lockheed and Boeing, who launched a joint bid to win the Long Range Strike Bomber contract, had argued that Northrop's winning aircraft will join a long list of "prohibitively expensive trends" of America’s past defense acquisitions. | LMT | {} | 694 |
| How not to audit the Pentagon | -44 | 2016-04-10 00:00:00 | In other words, an effective audit of the Pentagon would pose a financial threat to a sector that is doing spectacularly well under current arrangements. These are just a few of the ways the Pentagon has found to misuse vast sums of taxpayer money. Let's take a little tour through the highlights of Pentagon spending stretching back five decades. On its own, the Pentagon will never stop funding bomb-detecting elephants and overpaying for helicopter gears. Predictably, Lockheed Martin has deployed a wildly exaggerated claim that the F-35 will produce 125,000 jobs in 46 states. | LMT | {"William D","Los Angeles Times"} | 730 |
| Lockheed Martin pays $4.7 million to settle charges it lobbied for federal contract with federal money | -20 | 2015-08-24 00:00:00 | Lockheed, which also manufactures the $400 billion F-35 Joint Strike Fighter, has contracted with the Energy Department to run Sandia since 1993. Workmen at Sandia National Laboratories test for energy irregularities in a machine. The inspector general said that Sandia’s push for a long-term no-bid contract extension under the Obama administration was not the lab’s first lobbying attempt at taxpayers’ expense. Mizer alleges that Sandia Corp., the Lockheed subsidiary, used federal money to lobby Congress and other federal officials from 2008 and 2012 “to receive a non-competitive extension” of its contract in violation of federal law. Last fall, Friedman alleged that Sandia hired Wilson’s consulting firm and two unnamed former employees of Energy’s National Nuclear Security Administration, which oversees the nuclear labs. | LMT | {"Lisa Rein Covers The Federal Workforce Issues That Concern The Management Of Government"} | 396 |
| US Air Force Weapons Buyer Removed For Not Mentioning Wife’s Northrop Grumman Retirement Plan | -11 | 2016-02-13 19:55:36+00 | “Rightfully so, the Air Force places a tremendous emphasis on accountability and professional responsibility,” Air Force spokesman Lt. Col. Christopher Karns told the Washington Post. A senior official responsible for acquisitions contracts for the U.S. Air Force was removed from his post after he disclosed his wife’s retirement account with Northrop Grumman. Lombardi was removed from his position by his boss, Air Force Secretary Deborah James, late Thursday. Photo: Northrop Grumman/Alex Evers/Handout via ReutersLombardi’s future with the Air Force is uncertain. And former defense officials are not prohibited from working for any company. | LMT | {} | 623 |