Word: raytheon
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Last year the Pentagon paid the Raytheon Corp., its fifth largest contractor, a cool $10 billion for its missiles, missile shields and a constellation of electronics. This year President Barack Obama is putting Raytheon's recently departed top lobbyist in charge of the Pentagon's day-to-day management...
...plenty of people with far greater business-management experience than that of a lobbyist." Nonetheless, Lynn, who during his confirmation hearing on Jan. 15 pledged to "maintain the highest ethical standards," appears headed for Senate confirmation. To ease some Senators' concerns, he has promised to sell all his Raytheon stock and have his dealings at the Pentagon for the first year subject to an ethics review...
...role of the deputy in a better manner than anybody else that I saw," Gates said. The next day, Obama spokesman Robert Gibbs said Lynn would be getting one of a "very limited number of waivers" so he could assume the Pentagon post despite being a registered lobbyist for Raytheon from...
...appropriately dubbed "Pension Palpitations" report details, the S&P 500's pensions are now collectively underfunded by at least $115 billion. The problem stretches far beyond the finance sector. Five of the companies with the highest dollar amount of pension underfunding, according to the report, are Raytheon (underfunded by $1.6 billion), Johnson & Johnson ($1.5 billion), ExxonMobil ($1.4 billion), Macy's ($980 million) and Alcoa ($950 billion). "This is affecting the broad swath of companies that make up the fabric of what we call the 'real economy,'" says Mark T. Williams, a risk-management expert and finance professor at the Boston...
...everyone will profit, however. India's bureaucracy still moves slowly, and huge social and infrastructural demands on the country's budget compete with defense spending. Jerry Powlen, Vice President of Integrated Communication Systems for U.S. defense contractor Raytheon, acknowledges that sales growth in India has been "slower than anyone had hoped it would be." But he says the emerging country is crucial for future growth. India "is one of the most important markets for us as a company going forward and the United States wants to foster good relations with India," he says. "It gets better every...