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97% of Lockheed's Sales Come From Govt.

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Well there's another big battle about defense cuts that's gearing up. I mean really, does it ever end? Last summer the meer talking about was enough to spook investors and to keep them weary. And this summer shaping up to be be endless dark bates on debates on the topic. So Goldman Sachs wanted to help investors out. They put together a list of companies that get more than 20 percent of their sales from the government to see who might be vulnerable when cuts set in and boo, are we glad that they actually did that. Never before has the military industrial complex been more straight forward and frightning. All those companies receive a big chunk of their revenue from your tax dollars so we can really figure out who is living off the government doll. But the real story here are the top four: The ones that make 90plus percent of their sales from the government. So it should come at no surprise, that all four are connected to defense spending. The first company "Huntington Ingalls Industries". They build ships for the Navy and the Coastguard and 99percent of their sales are to the government. That means that 99% of their business relies on money continuing to flow in from Washington. So really it should come at no surprise that in 2011 they spent over 3.2 Million Dollars on lobbying so that the cash didn't dry up. And in just this week the head of Huntigton Ingalls was fearmongering about pentagon pledged cuts. According to him the cuts could result in a rise in the cost of their ships, in other words, "Buy more ships or else it's gonna cost you!". And our next military superstar is good old "Lockheed Martin". 97% of their revenue comes from tax payer money and they spent on whopping 15.1 million in lobbying the government. And of course Lockheed CEO trying to sway public opinion over defense cuts by declaring the cuts will result in massive layouts. And also don't forget about Lookheed Martin's defense industrie-doppelgänger "Northrop Grumman". They get 90% of their sales from uncle Sam and they spent 12.7 million on lobbying. And finally there's "L-3 Communications". They focus on surveillance and navigationsystems and 90% of their sales are to the government with 3.7 Million Dollars revenue coming back to K-Street.

Video Details

Duration: 3 minutes and 32 seconds
Country: United States
Language: English
Producer: RT
Director: RT
Views: 62
Posted by: tzmgermany on Aug 31, 2012

This week Goldman Sachs put out an list of companies that get 20 percent or more of their sales from the government. the names on the list aren't shocking, but the percentages are. Ein Beitrag zur Übersetzung für das TZM Lecture-Team Germany

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