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Lockheed Martin announces impact of government shutdown

  • Lockheed Martin (LMT -0.4%) says ~3K employees will be furloughed on Monday due to the government shutdown.
  • "The number of employees affected is expected to increase weekly in the event of a prolonged shutdown," the company notes. (PR)
  • United Technologies made similar comments Wednesday.
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Comments (22)
  • Darren McCammon
    , contributor
    Comments (1879) | Send Message
     
    Don't confuse a shutdown or defaulting on the debt with the debt limit. Not raising the debt limit would require us to not increase the debt; however, we can still spend every cent we bring in. Since roughly 30% of spending is paid by taking on additional debt, that still leaves the other 70% which is paid for by our taxes. There is plenty of money to pay the interest on the debt, preventing any default on that debt, plus a whole lot more left over to pay for other essential services. What we are talking about here is not allowing the debt limit to be raised and thus forcing the US government to prioritize and choose what spending is more and less essential.
    4 Oct 2013, 04:35 PM Reply Like
  • Rudester
    , contributor
    Comments (2720) | Send Message
     
    A great way to cut unnecessary expenses is to give a pay cut to all Congressmen/women, take away their pension plan and convert their retirement to Soc Sec and a 401K plan with tax payer matching matching on the first 6%. Last, but not least, closeout their medical plan and put them on the plan of their choice available under the Affordable Health Care Act.

     

    Not only will that save us a lot of money, it will ensure, once and for all, that they stop screwing around and instead fix Soc Sec, Medicare and the Affordable Health Care Act.
    4 Oct 2013, 05:39 PM Reply Like
  • financeminister
    , contributor
    Comments (977) | Send Message
     
    Seconding that, another great way to cut unnecessary expenses is to stop spending on fluff. My father-in-law and mother-in-law worked in a government funded medical hospital for the last 30 years and retired two years ago with a fancy pension. This is one of the biggest cancer hospitals in the world. He was the head of the radiology department and responsible for apart from other things, budgetting for each year. While every other department used to increase the budget year after year, he used to maintain the budget and spend on only needed resources. This irked many of the other department heads as it made them look bad. Finally one of the top level directors called him in and reprimanded him saying that he has every oppertunity to get more federal funding and needs to apply for them and there is no need for him to be so strict expenses. The senior level folks in this instution get so many benefits. Some of the outragious ones are expensing $500 wine bottles... some of these bigwigs have wine shelves in fancy resteraunts reserved in their name. My father-in-law immigrated from a third world country 40 years ago and worked his way up the old fashioned way so he knows the value of every nickle. He was always disgusted by the excesses in government run institutions by the people at the top. My mother-in-law who was an administrator explained how their pantry was full of various goodies that were usually taken home by staff and refilled day after day. They were allowed to expense pastry items in the kitchen and all the good stuff that the rest of us considered as treats.

     

    I tell you, Americans who work in the private sector probably have no clue how much wasteful spending happens in government run institutions. This country has no reason to have the debt problems it faces today. It's the richest country in the world... but it's been driven down to the pits by generations of Americans in leadership and the public who have absolutely no sense of fiscal responsibility.
    4 Oct 2013, 06:08 PM Reply Like
  • tshoe58
    , contributor
    Comments (26) | Send Message
     
    Oh, raising taxes could be a part of your solution? That would prioritize ostentatious millionaires into thinking about buying those beautiful new Chevy Impalas rather than Lamborghinis. Or should new taxes be excise or flat increase, so thoe poorer folks would effectively make more. Wasn't it our boy Hamilton that said the national debt was a national treasure? Go ahead with your Tea Party rhetoric. The original intention of the founding fathers was that the national debt would be a useful thing, as it has been. How far down from AAA to junk does US debt have to go? Would you buy it on the cheap then? Some Tea Party Patriot you!
    4 Oct 2013, 06:11 PM Reply Like
  • kata
    , contributor
    Comments (738) | Send Message
     
    As long as that includes ALL Federal employees, no exemptions for anyone, then its fine with me. They are still exempt from insider trading but no one is going to enforce a change in that anyway.
    4 Oct 2013, 06:57 PM Reply Like
  • bigbenorr
    , contributor
    Comments (863) | Send Message
     
    Alexander Hamilton was a D-bag and he finally got himself killed as a result of s*** talking the wrong guy.
    4 Oct 2013, 07:40 PM Reply Like
  • David Allen 1
    , contributor
    Comments (31) | Send Message
     
    What are yhou, financeminister? Some tea-partei crackpot making up stories about waste? I worked for the feds for 15 years--in a federal shipyard (Puget Sound), Public Buildings Service, and the Pacific Missile Range. I worked on Range Instrument Ships, and believe me, it was all business and work--no goofing off. You Tea-Partiers are tearing the nation apart with youjr shut-down of the government, and you may just trigger a Great Depression with your stupidity
    4 Oct 2013, 08:28 PM Reply Like
  • mr.investor
    , contributor
    Comments (64) | Send Message
     
    @DavidAllen - you must be a federal gov't employee to think there isn't any waste in the federal gov't. I work as a contractor for the gov't for years and i can tell you i see a ton of wasteful spending every single day. You don't need to be a liberal, conservative, or tea party to see there is a ton of wasteful spending in the gov't - you just need common sense. Now I can't say that every single division of the gov't is wasting money, but I can say that the majority of the gov't is.
    4 Oct 2013, 11:12 PM Reply Like
  • Rinascimento
    , contributor
    Comments (1160) | Send Message
     
    This country can't fix anything until our borders are secured
    4 Oct 2013, 11:16 PM Reply Like
  • tshoe58
    , contributor
    Comments (26) | Send Message
     
    As I recall, Hamilton was a heroic officer under Washington. As I recall, dirty politics was about as dirty then as now. As I recall, Hamilton fired his pistol in the air when dueling Burr in Weehawken, a gentleman's way of showing courage, with the expectation, though not assurance that the other duelist would do the same, and honor balanced. Burr challenged Hamilton to the duel. Hamilton's efforts to ruin Burr's character and career were potent and virulent, but a little short of the Koch Brothers and the TEA Baggers to Obama. Since you referred to Hamilton as a d-bag, perhaps you will note the symmetry. The Kochs are encouraging Anarchists to destroy the republic. As I recall, Communists and Socialists are to the right of Anarchists. Sure, Hamilton was a dyed in the wool and so born bastard. But you want a modern day Burr, or perhaps Joe McCarthy, look to Ted Cruz, the Anarchist.
    5 Oct 2013, 04:18 PM Reply Like
  • tshoe58
    , contributor
    Comments (26) | Send Message
     
    WHO’S GONNA BUILD YOUR WALL
    Tom Russell

     

    (G) I've got 800 miles of open border
    (D) Right outside my door
    There's (D7) minute men in little pick up trucks
    Who've de(C)cleared their own damn (G) war

     

    (G) Now the government wants to build a barrier
    (D) Like old Berlin 8 feet tall
    But if (D7) uncle Sam sends the illegals home
    (C) Who's gonna build the (G) wall?

     

    Chorus:

     

    (G) Who's gonna build your wall boys?
    (C) Who's gonna mow your (G)lawn?
    Who's gonna cook your (Em) Mexican food
    When your (D) Mexican maid is gone?

     

    (G) Who's gonna wax the floors tonight
    (C) Down at the local (Am) mall?
    (G) Who's gonna wash your baby's face?
    (D) Who's gonna build your (G) wall?

     

    Now I ain't got no politics
    So don't lay that rap on me
    Left wing, right wing, up wing, down wing
    I see strip malls from sea to shining sea

     

    It's the fat cat white developer
    Who's created this whole damn squall
    It's a pyramid scheme of dirty jobs
    And who's gonna build your wall?

     

    Chorus

     

    We've got fundamentalist moslems
    We've got fundamentalist jews
    We've got fundamentalist christians
    They'll blow the whole thing up for you

     

    But as I travel around this big old world
    There's one thing that I most fear
    It's a white man in a golf shirt
    With a cell phone in his ear

     

    Chorus

     

    Yeah, who's gonna wash your baby's face?
    Who's gonna build your wall?
    5 Oct 2013, 04:23 PM Reply Like
  • bigbenorr
    , contributor
    Comments (863) | Send Message
     
    If Hamilton wanted to delope he should have fired at the ground, not over his opponents head, and waited for Burr to fire first. Additionally, if Hamilton had wanted a non-violent end to the conflict he could have just apologized by letter as Burr requested.
    5 Oct 2013, 05:41 PM Reply Like
  • tshoe58
    , contributor
    Comments (26) | Send Message
     
    While this is all getting way off topic, firing in the air was an well accepted method of delope, or honorably ending a duel. Burr took his time aiming after Hailton's shot. But, getting back on topic, if Boehner would just let a clean cr go for vote, there would be a non-violent, or at least non-harmful, end to our present dilemma. No need for an apology, either. Based on experience, if Mr. Obama were to delope with Mr. Boehner, Mr. Boehner would take as good aim as Burr did. So, since Mr. Boehner has asked Mr. Obama to this dance, Mr. Obama can call the tune: a slow tango, sawed off shotguns at each other's chest, cocked and locked. An unusual tango, not from the Argentine, but, rather, Mexico.
    6 Oct 2013, 02:16 PM Reply Like
  • David Crosetti
    , contributor
    Comments (11658) | Send Message
     
    58:

     

    Are you "recalling" these things because you were there? Your knowledge about Alexander Hamilton makes me laugh out loud. I suggest that you might want to read: Ron Chernow's book, Alexander Hamilton." It might help you understand the man in the context of his time.

     

    It is really funny how the left gets their panties in an uproar at the mere mention of the Koch Brothers. Suggest you look at how much money the Koch Brothers actually gave to Rep causes last year vs. money given by others to Dem/Rep causes.

     

    The Koch's come up in 75th place. Top 10 political donations come from:

     

    Act Blue
    American Federation of State, County, and Municipal Employees
    AT&T
    National Association of Realtors
    National Education Assn
    Service Employees International Union
    Goldman Sachs
    American Association for Justice
    International Brotherhood of Electrical Workers
    American Federation of Teachers

     

    Way down at #75 the feared Koch Brothers. I fear them as much as I fear the Marx Brothers.

     

    A
    29 Dec 2013, 10:04 AM Reply Like
  • David Crosetti
    , contributor
    Comments (11658) | Send Message
     
    I am against the wall. Any wall. I mean where am I going to find garden help as cheap as I get it these days? I mean, does anyone stop to think what a flat of strawberries would cost if we had a wall across our border?

     

    Look at the facts. If our border was secure, then we wouldn't need all those government employees patrolling the border, arresting and releasing those who walk across our border. We wouldn't need the welfare system to remain in place, since we would eliminate so many people from welfare. We would empty emergency hospital waiting rooms, because those still in this country would go to their doctor for a cold, rather than occupy seats in the ER.

     

    I could go on forever about the savings we would have by building a wall. It would pay for itself in less than 6 months. Talk about a good return on investment! My god!
    29 Dec 2013, 10:08 AM Reply Like
  • David Crosetti
    , contributor
    Comments (11658) | Send Message
     
    Hamilton would have been better off putting a bullet in Burr's forehead.

     

    That way Burr would have never betrayed his country (hard to do when you're 6 feet under) and Hamilton would have been able to continue being an important part of our government.

     

    Just Sayin
    29 Dec 2013, 10:10 AM Reply Like
  • tshoe58
    , contributor
    Comments (26) | Send Message
     
    Good idea, but takes more than an act of Congress. You'd have to change the constitution. Perhaps we could "quarantine" pay during the crisi? That would be an interesting case to go straight to the Supremes.
    4 Oct 2013, 06:14 PM Reply Like
  • Rinascimento
    , contributor
    Comments (1160) | Send Message
     
    Don't have to change the Constitution; just place term limits and place offices only in their district far away from lobbyists
    4 Oct 2013, 11:28 PM Reply Like
  • tshoe58
    , contributor
    Comments (26) | Send Message
     
    It took an Amendment to the Constitution to limit the Presidency to 2 terms. What's your argument to support a term limit on Members of Congress without amendment? The only workable way of getting the ball rolling is 2/3rd votes in both houses, then go to the states. Congress couldn't get 2/3rds majorities to welcome the Second Coming of Jesus, let alone something that would take away its members' rice bowls.
    8 Oct 2013, 12:21 AM Reply Like
  • David Crosetti
    , contributor
    Comments (11658) | Send Message
     
    That lead singer, what's her name? She's still hot after all these years. Oh, yeah, Diana Ross! I love the Supremes.
    29 Dec 2013, 10:11 AM Reply Like
  • 1996r1100rt
    , contributor
    Comments (101) | Send Message
     
    More than 3K laid off, I was laid off THIS WEEK.

     

    LM sucks as a company..................
    4 Oct 2013, 06:41 PM Reply Like
  • mr.investor
    , contributor
    Comments (64) | Send Message
     
    Furlough does not mean laid off. When you are laid off, it means that you don't work for the company anymore. 3000 people being on furlough means that they are still employees of the company but are not allowed to work until the shutdown ends. I have been put on furlough this whole week and am forced to use my vacation.
    4 Oct 2013, 11:17 PM Reply Like
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