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.
randr
(12,409 posts)bluedigger
(17,086 posts)Few F-35 supporters outside of L-M's sphere of influence.
BeyondGeography
(39,367 posts)Means he's having a bad time with the real story of the moment.
yallerdawg
(16,104 posts)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!
underpants
(182,740 posts)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.
Ford_Prefect
(7,876 posts)snooper2
(30,151 posts)shraby
(21,946 posts)want to make us weaker? If we have better planes than Russia, that disadvantages Russia.
cstanleytech
(26,280 posts)is not some major revelation by him to the american people.
wishstar
(5,268 posts)Make fewer employees work harder at lower pay. I doubt he wants the highest executives to take any pay cuts.
JudyM
(29,225 posts)malthaussen
(17,184 posts)He must own shares in General Dynamics.
-- Mal
NWCorona
(8,541 posts)Pachamama
(16,886 posts)jmowreader
(50,552 posts)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.