Business

June 21, 2012

Lockheed Martin commemorates centennial, addresses future, sequestration

Lockheed Martin Chairman and CEO Bob Stevens.

Lockheed Martin’s Chairman and Chief Executive Officer Bob Stevens, President and Chief Operating Officer Chris Kubasik and other senior leaders commemorated the corporation’s 100-year history during its annual media briefing June 19, while simultaneously warning of the impacts that sequestration will have on the industry.

The meeting, held at the company’s Global Vision Center in Arlington, Va., was attended by seventy industry and business reporters.

“Experience through our first 100 years has informed us in many ways and shaped who we are, our ideals, and our culture,” said Stevens. “The ability to drive the cutting edge of advanced technology has always been a central focus for us. But we are reminded daily of the great privilege that we have of supporting those who serve our nation.”

Looking at the next 100 years, Stevens said, “We have a highly integrated strategy, we’ve made smart investments, we’ve ensured that we have financial capacity and flexibility, and we have extraordinary talent and dedicated leadership at all levels of our company. We are very much ready for future challenges.”

Lockheed Martin President, COO and CEO-elect Chris Kubasik.

Stevens described sequestration as “the single greatest challenge faced by our company and industry, for which we have no good response. With only 196 days remaining we have no insight as to how sequestration, this law, will be implemented. From an industry perspective, the near-term horizon is completely obscured by a fog of uncertainty.”

Kubasik, who will become CEO on Jan.1, shared his vision of where the company is going and its priorities for research and development investments. “I think we have done an excellent job over the last several years trying to optimize our R&D spend,” he said. For example, “we look at nanotechnology with a focus on material strength and weight. That is something that each and every business area can benefit from. If we are not making progress, if it doesn’t align with the customers’ area of focus, we stop the project and move on to something else.”




All of this week's top headlines to your email every Friday.


 
 

 

Navy Awards General Dynamics contract for LCS planning yard services

The U.S. Navy awarded General Dynamics Bath Iron Works a $100 million contract to provide planning yard services for the Littoral Combat Ship program. General Dynamics Bath Iron Works is a business unit of General Dynamics. Bath Iron Works, as the LCS Planning Yard, will provide maintenance and modernization support for all Navy LCS 1...
 
 
boeing-boc

Boeing, BOC Aviation announce order for 82 airplanes

  Boeing announced Aug. 25 an order by BOC Aviation for 50 737 MAX 8s, 30 Next-Generation 737-800s and two 777-300ERs (Extended Range). The order, valued at $8.8 billion at list prices, is the largest in BOC Aviation’...
 
 

F-35 flight test program milestones maturing combat capabilities

The Lockheed Martin F-35 Joint Strike Fighter program continued a steady path of flight test milestones in August, including weapons separation, software compatibility and flight hours, all demonstrating program maturity. “The test milestones are a direct result of the detailed planning, coordination and execution between various government teams and the integrated test force,” said...
 

 
Boeing photograph

Boeing program completes critical design, safety reviews

Boeing photograph Boeing recently completed the Phase Two Spacecraft Safety Review of its Crew Space Transportation-100 spacecraft and the Critical Design Review of its integrated systems, meeting all of the companyís Commerci...
 
 
LM-C130

Keep on Rockin’: C-130J ferries to Little Rock AFB

  The 61st Airlift Squadron at Little Rock Air Force Base, Ark., received another Lockheed Martin C-130J Super Hercules airlifter Aug. 21.  Brig. Gen. Brian Robinson, vice commander, 618th Air and Space Operations Center ...
 
 

Air Force tests Raytheon’s upgraded High-Speed Anti-Radiation Missile

Raytheon Company and the U.S. Air Force successfully flight tested an upgraded High-Speed Anti-Radiation Missile. The HARM Control Section Modification is more precise and accurate, which reduces potential collateral damage. During this test mission, an F-16 aircraft fired an HCSM, AGM-88F, against an emitter located outside of a zone of exclusion, which contained a similar...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>