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CRYSTAL CITY, Va: As the Defense Department continues to pressure companies to share the load in this time of shrinking budgets, Lockheed CEO Marilyn Hewson told reporters today her company will boost internal research and development spending 5 percent from its current level of $700 million.

“We continue to invest in our porfolio because we think it’s critical,” said Hewson at the company’s media spectacular (wink) here before the Royal International Air Tattoo and Farnborough International Air Show. She noted the company boosted IRAD spending by 13 percent last year. Hewson made her remarks in answer to a reporter’s question.

marilyn hews lockheed ceo

In the only other real news from her comments this morning, Hewson — who will attend both RIAT and Farnborough this year with the first foreign flight of the F-35B at those venues — offered strong praise for the major international air shows — Farnborough, Paris, Singapore etc. — saying they were “more efficient ways” to address large numbers of foreign delegations in one place and at one time. Her predecessor has eschewed air show attendance for the last few years and deeply reduced the company’s presence at the shows in a PR bid to show shareholders that the company was saving money.

Otherwise, Hewson made the usual comments about sequestration being bad public policy and said the company would continue to make strategic acquisitions.

Comments

  • Don Bacon

    Lockheed’s CEO and President Marillyn[sic] Hewson arrived in office about fifteen months ago and immediately shook up management with Orlando Carvalho to executive vice president of the Aeronautics business area and Lorraine Martin as vice president and general manager of the F-35 Lightning II program. (We don’t hear much, or anything, from Martin, or Carvalho either. Apparently Hewson does all the talking.)

    Meanwhile LockMart has been doing quite well financially, thank you very much. Hewson in April:
    “We’re proud to deliver to our shareholders the 11th consecutive annual double-digit increase of the Lockheed Martin quarterly dividend rate.”

    How do they do it? According to the NewYorker, Jan 2013:

    Lockheed Martin spends fifteen million dollars a year on lobbying efforts and campaign contributions. The company was the single largest contributor to Buck McKeon’s last campaign. (Lockheed Martin has a major R. & D. center in McKeon’s congressional district.) This patronage hardly distinguishes McKeon from his colleagues on Capitol Hill. Lockheed Martin contributed to the campaigns of nine of the twelve members of the Supercommittee, fifty-one of the sixty-two members of the House Armed Services Committee, twenty-four of the twenty-five members of that committee’s Subcommittee on Tactical Air and Land Forces—in all, to three hundred and eighty-six of the four hundred and thirty-five members of the 112th Congress.

    • PolicyWack

      Another CUT, COPY & PASTE job. Your “masters’ are not going to be happy.

      • ELP

        Now. What exactly is inaccurate about it? Is it important to the conversation or not? What do you think?

        • Don Bacon

          Pentagon sock-puppets don’t need to think.

          • billy

            Still waiting for an answer don.
            Why do you pretend to be American when you are Chinese?

          • Bat Man

            Don, the grown-ups are talking.

      • SS BdM Fuhress ‘Savannah

        Masters or servants aren’t happy out here in this economy. A World War up and running will aid the Masters!

  • sound air

    You would think that with all the profits LM make they could afford someone to photoshop her face a bit better ..