Major defense contractors Raytheon, Oshkosh, and Lockheed Martin assured investors at a Credit Suisse conference in West Palm Beach this week that they stand to gain from the escalating conflicts in the Middle East.
Lockheed Martin Executive Vice President Bruce Tanner told the conference his company will see “indirect benefits” from the war in Syria, citing the Turkish military’s recent decision to shoot down a Russian warplane.
The incident, Tanner said, heightens the risk for U.S. military operations in the region, providing “an intangible lift because of the dynamics of that environment and our products in theater.” He also stressed that the Russian intervention would highlight the need for Lockheed Martin-made F-22s and the new F-35 jets.
And for “expendable” products, such as a rockets, Tanner added that there is increased demand, including from the United Arab Emirates and Saudi Arabia because of the war in Yemen.
Listen to Tanner’s remarks to the Third Annual Industrials Conference below:
Wilson Jones, the president of the defense manufacturer Oshkosh, told the conference that “with the ISIS threat growing,” there are more countries interested in buying Oshkosh-made M-ATV armored vehicles. Speaking about a recent business trip to the Middle East, Jones said countries there “want to mechanize their infantry corps.”
Raytheon Chief Executive Tom Kennedy made similar remarks, telling the conference that he is seeing “a significant uptick” for “defense solutions across the board in multiple countries in the Middle East.” Noting that he had met with King Salman of Saudi Arabia, Kennedy said, “It’s all the turmoil they have going on, whether the turmoil’s occurring in Yemen, whether it’s with the Houthis, whether it’s occurring in Syria or Iraq, with ISIS.”
The last bit of good news for the contractors is the latest budget deal in Congress. After years of cuts following the budget sequester, the deal authorizes $607 billion in defense spending, just $5 billion down from the Pentagon’s request, which DefenseNews called a “treat” for the industry.
“Our programs are well supported [in the budget],” said Lockheed’s Tanner at the conference. “We think we did fare very well.”
You don’t know how much I loathe “all” of my old defense contract employers, except ARINC, which finally went mostly civilian and were broken up and purchased by other companies because they didn’t hire people who’d sold their souls, therefore they really couldn’t compete.
Maggie,
The remarks those men made are incomprehensible. Just pure evil.
“The last bit of good news for the contractors is the latest budget deal in Congress. After years of cuts following the budget sequester, the deal authorizes $607 billion in defense spending, just $5 billion down from the Pentagon’s request, which DefenseNews called a “treat” for the industry.”
A treat for the industry!! These people do not have a soul.
My eyes are leaking.
@Admin: Glad to see you’re hip to the “Intercept”.
Ike tried to warn us about these fuckers, but they’re still running the show. It’s high time we cut off ALL their funding.
Always enough money for more bombs. Never enough for the people. Welfare=Bad. Warfare=Good. The soul of the U.S. has been gutted by these Warfucks.
Their time is coming
“War Pigs”
Generals gathered in their masses,
just like witches at black masses.
Evil minds that plot destruction,
sorcerer of death’s construction.
In the fields the bodies burning,
as the war machine keeps turning.
Death and hatred to mankind,
poisoning their brainwashed minds…Oh lord yeah!
Politicians hide themselves away
They only started the war
Why should they go out to fight?
They leave that role to the poor
Time will tell on their power minds
Making war just for fun
Treating people just like pawns in chess
Wait `till their judgement day comes, yeah!
Now in darkness, world stops turning,
ashes where the bodies burning.
No more war pigs have the power,
hand of god has struck the hour.
Day of judgement, god is calling,
on their knees the war pigs crawling.
Begging mercy for their sins,
Satan, laughing, spreads his wings…Oh lord, yeah!