real-time news and commentary for investors
Monday, Oct 1
2012, 1:07 PM
After receiving personal assurances from the White House that the Pentagon will not cut...
After receiving personal assurances from the White House that the Pentagon will not cut contracts in January, Lockheed Martin (LMT +0.3%) says it won't issue layoff notices to employees before the election, as it had threatened to do. The decision ends a stand-off with the administration over deep automatic cuts set to hit defense spending if Congress can't find a budget solution, and the layoff notices were set to go out to hundreds of thousands of LMT employees in Virginia - a key electoral state.