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War Profiteers Threaten Layoffs to Extort More Money From Congress
Never mind that military spending produces fewer jobs than any other spending or even tax cuts for working people.
War profiteering companies know how to force Congress critters to do their bidding.
Lockheed Martin, the world’s largest defense contractor and a bellwether of the industry, already has started preparing for the possibility of staff reductions. The company, which is dependent on government contracts for the bulk of its revenue, recently has seen its stock price slide.
At a March aerospace luncheon, Lockheed CEO Robert Stevens acknowledged the company has a legal responsibility to provide notice of layoffs. “How do we start positioning our businesses in different locales to be able to advise our employees of the consequences of sequestration?” he said. “These are not easy problems for businesses to wrestle with.”