This was from "Is Lockheed Martin Stock in Dire Need of a Buyback" By Rich Smith Motley Fool june 2, 2013 'Paraphrased excerpts'.
Lockheed Martin Stock is in dire need of a Northrop recently upped plan share repurchase program to $5 billion, effectively assuring investors that even if its earnings as a company should decline, it can still make its earnings per share grow.
I should add that LMT has many SpaceX rejects. Most never got past the phone interview or online 45 minute test.
SpaceX isn't a legal tool to transfer shareholder and taxpayer wealth into the hands of a few hundred executives. As an example the position of corporate vice president.
Numbers of that magnitude can be off a $billion or 2 either way and the pension provider remains guility of a criminally negligent lapse of fiduciary reponsibility.
We never stop thinking about the future and, our progress on that front will be measured not just by our balance sheet, it will be measured by the value we create for everyone who’s counting on us, including our customers, our executives, our partners, our major shareholders, and others.
That’s why we’re renewing our commitment to sustainable business practices and increased profits. Sustainability encompasses many activities that promote responsible growth, protect our visible campus environment, and strengthen our workforce with younger, eager, new hires. It means that we will continue to act within the legality of ethics and integrity as we always do when we lay off the older employee, and we will take action to: ensure the safety and health of our employees by reducing campus gun violence, develop a diverse and inclusive workforce for the next generation, make our operations greener with envy and money, and support science and technology education among the gifted minorities.
We’re aligning all of those initiatives under the banner of sustainability, because when they come together, they make us a stronger, longer lasting, more responsible, and a more successful financial earning enterprise.
· In the employee survey, Ethics & Integrity was the highest rated element of our organizational health, and had the largest increase for the second year in a row. That’s why we chucked the diversity maturity model.
· We reduced carbon emissions by more than 450,000 metric tons since 2007 by only using 15 watt desk lamps and exit signs.
· Simply by not heating the bathrooms in the winter, allowing the toilets to flush every third use, we reduced consumption electricity, natural gas and water costs by more than $20 million in 2012 compared to just five years-savings we have invested executive compensation.
· For the third year in a row, our inVoluntary Lay Off (VLO) has been a great success of eliminating those over 50 years of age reducing our pension liability's.
No one is forcing LMT to meet their pension obligations. They are nder no obligation to give you anything once you walk out that door. Anyone not receiving a pension and/or under 50 is a fool to work at this place.
Knowledge share is knowledge transfer. I won't mentor or bother ot train anyone to take my job.
Its not just the gym membership, its the whole, d.a_m!n mess. Its the attutides of the Joseph Goebbels type managers there
United Launch Alliance employees hurt by arc flash at SLC-6, Cal/OSHA Suspects Negligence
March 09, 2013 12:47 pm
Two United Launch Alliance employees were seriously injured Saturday morning in an electrical explosion at Space Launch Complex-6 on south Vandenberg Air Force Base. They were injured Saturday in what was described as an “arc flash” while working at Space Launch Complex-6 on South Base.
Vandenberg Fire Department emergency responders took one of the injured workers to meet a CalSTAR air ambulance for transportation to a hospital. The other injured person was transferred from a Fire Department vehicle to a ground ambulance to Santa Barbara Cottage Hospital, Vandenberg officials said.
“The ULA employees were immediately transported to Santa Barbara Cottage Hospital and subsequently transferred to Grossman Burn Center West Hills near Los Angeles that specializes in treating severe burn patients where they are being treated for their injuries,” ULA officials said in a written statement Monday morning. “Our thoughts and support are with the employees and their families during this difficult time.”
The injured mens names, job functions or conditions weren’t immediately available. ULA spokeswoman Jessica Rye said Saturday ULA would not comment on the incident. No details have been released regarding the incident, including whether it occurred at the launch pad or in the nearby hangar where rockets are processed.
“ULA has begun their full investigation into the accident and will provide more details as they become available,” the ULA statement said. Cal/OSHA, the California Occupational Safety and Health Administration plans on conducting its own independent investigation. New Cal/OSHA safety regulations, beginning in 2004, now consider evidence of Negligence Per Se in Third-Party Tort Actions.
*** - God Bless - Unfortunately the poor souls injuried won't live long enough to see a dime. ULA will spend millions to see to that.
bLAH, BLAH, blah tell us more about kim kardashian and sisters. Isn't that the fake sensationalism you thrive on?
You've exposed the truth. The company isn't serious about employee health, but it makes for good press. Many large company's continue to pay 100% of their employees health fitness membership.
"The company has no obligation to provide you a job, health care, a 401K".
This attitude hurts the war fighter, our customer and the nation.
I have no obligation to mentor or train my replacement. I have no obligation to put comment statements in my code or write an easy to follow piece of code.
Re-invent the wheel from scatch, leverage nothing, and lay off all the older employees.
"At an Australian air show, Lieutenant General Christopher Bogdan accused the plane's manufacturer, Lockheed Martin Corp (LMT) and engine maker Pratt & Whitney, a unit of United Technologies Corp (UTX), of trying to "squeeze every nickel" out of the U.S. government for the planes."
F-35B toast. Good entry point after announcement. Republican House apparently hates it. Its failure represents a political victory against the president with no regard for the nation and national security.
Unlawful Termination continues today along with descrimination in many forms. A victory for the Unlawful Termination of the reservist case demonstrates that years of efforts to prevent bias and prejudice has failed. I can only hope our customer (uncle Sam) severely punishes those allowing the perpetuating of these crimes and also the corporation.
"the right thing to do is make" or create strategic value for your self, like congress does for themself once in office.
Age Discrimination and Retaliation
Date: 04/07/2008 (Date of Announcement)
Misconduct Type: Labor
Enforcement Agency: EEOC
Contracting Party: None
Court Type: Civil
Synopsis: Lockheed Martin Global Telecommunications, Inc. settled an age discrimination
lawsuit with the Equal Employment Opportunity Commission (EEOC), agreeing to pay
$773,000 in back pay to eight employees. The EEOC claimed Lockheed Martin violated the Age
Discrimination in Employment Act (ADEA) when it fired the employees, who were between the
ages of 47 and 65, during a reduction in force implemented in the COMSAT Mobile
Communications Division in October 2000. In 2007, Lockheed Martin paid $131,000 in
damages to two employees to settle retaliation claims brought in the lawsuit.
RCRA and False Claims Act Violations at Paducah Gaseous Diffusion Plant
Date: 08/28/2003 (Date of DOJ Intervention)
Misconduct Type: Environment
Enforcement Agency: Energy
Contracting Party: Energy
Court Type: Civil
Synopsis: “On August 28, 2003, the Department of Justice (the DoJ) filed complaints in partial
intervention in two lawsuits filed under the qui tam provisions of the Civil False Claims Act in
the United States District Court for the Western District of Kentucky, United States ex rel.
Natural Resources Defense Council, et al v. Lockheed Martin Corporation, et al, and United
States ex rel. John D. Tillson v. Lockheed Martin Energy Systems, Inc., et al. [Both cases were
joined in 2004.] The DoJ alleges that we committed violations of the Resource Conservation and
Recovery Act at the Paducah Gaseous Diffusion Plant by not properly handling, storing, and
transporting hazardous waste and that we violated the False Claims Act by misleading
Department of Energy officials and state regulators about the nature and extent of environmental
noncompliance at the plant. We dispute the allegations and are defending against them.” A trial
is currently scheduled for February 2010.
Ernest v. Lockheed Martin (Unlawful Termination)
Date: 10/01/2007 (Date of Filing)
Misconduct Type: Labor
Enforcement Agency: Non-Governmental
Contracting Party: None
Court Type: Civil
Synopsis: Joseph “Max” Ernest, a Navy reservist who was laid off from his job at Lockheed
Martin after serving in Iraq, filed a federal lawsuit claiming his termination violated the
Uniformed Services Employment and Reemployment Rights Act (USERRA) and Colorado law.
Ernest was working as a counterintelligence/counter-terrorism and law enforcement analyst for
Lockheed Martin when, in March 2006, he was put on active duty for 11 months, including a
nine-month deployment to Baghdad.