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Lockheed Martin to lay off 123,000 and other defense contractors may follow
Tea Party Tribune ^ | 2012-11-01 08:34:48 | Gil Guignat

Posted on 11/01/2012 8:43:48 AM PDT by GilGil

 

                                                                                                                            

President Obama's administration has asked Lockheed Martin to delay its announcement of the layoff of 123,000 employees to make the unemployment numbers look much better. Lockheed Martin is one of several defense contractors ready to lay off tens of thousands and hundreds of thousands of people after the election. These numbers may indeed rocket the unemployment figures past 8%. 

The layoff notice announcement came by way of Yahoo.com on October 1, 2012 and was quickly buried apparently to fool the voters into believing the economy is much better than represented. 

"It's difficult to understate the importance of Lockheed Martin's latest announcement on the race for the White House: the defense contractor said on Monday it will not be issuing employee layoff notices to 123,000 workers on Nov. 2-just four days before the presidential election. Amidst all of the super PACs and campaign ads, the threat of telling a sizable chunk of voters in key areas of the country that they could lose their jobs if the election didn't go Lockheed's way was one of the most potent examples of corporate electioneering. But the layoff threat was largely unreported outside of Beltway trade publications. Here's why today's announcement matters:" More... 

Basically the bottom may fall out of the economy after November 6, 2012 with hundreds of thousands to be laid off. This would be devastating. Defense contractors agreed to delay the announcements in a sweetheart deal where the White House will pick up any costs associated with these layoffs. 

"Lockheed, one of the biggest employers in the key battleground state of Virginia, previously warned it would have to issue notices to employees, required by law, due to looming defense cuts set to begin to take effect after Jan. 2 because of the failure of the  Joint Select Committee on Deficit Reduction - the  so-called Super-committee, which was created to find a way to cut $1.5 trillion from the federal deficit over the next decade." More 

This move to delay the announcements of these massive layoffs and cover the costs was totally illegal according to Senator Lindsey Graham. And remember, if you watched the third presidential debates President Obama assured the 70 or so million viewers that these cuts in defense "would not happen."

"Sen. Lindsey Graham (R-S.C.) says that he will do anything he can to block the Obama administration from reimbursing defense contractors for severance costs if the firms don't send layoff notices to employees. The Obama administration issued guidance Friday that said defense firms' costs would be covered if they have to layoff workers due to canceled contracts under the across-the-board cuts set to take effect Jan. 2. The layoff notices have become a politically charged issue because they could have come just four days ahead of the election because of a 60-day notice required by federal law for mass layoffs." More...

Article shared using the Free Republish tool on Tea Party Tribune.


TOPICS: Culture/Society; Government; Politics/Elections
KEYWORDS: teapartytribune; vanity
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Can we assume from these numbers that between 500,000 to a million will be laid off if you put all the defense contractors together?
1 posted on 11/01/2012 8:43:55 AM PDT by GilGil
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To: GilGil
Watch the gubermint decide on Nov 7th that the notices can must be issued after all.
2 posted on 11/01/2012 8:49:23 AM PDT by NonValueAdded ("Why not eliminate the middle man and have whoever feeds Obama his lines debate Romney directly?")
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To: GilGil

Yes. Easily a million.


3 posted on 11/01/2012 8:50:29 AM PDT by CodeToad (Padme: "So this is how liberty dies... with thunderous applause.")
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To: NonValueAdded

More likely they’ll back-off their agreement to pay the fines and put them out of business entirely.


4 posted on 11/01/2012 8:52:20 AM PDT by mykroar (Race/religious riots & hurricanes bring November martial law. Voting postponed.)
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To: GilGil

The bigger problem here is that Obambi may have ALREADY set up the economy to crash NO MATTER WHO WINS


5 posted on 11/01/2012 8:53:20 AM PDT by Mr. K (What The World would hate more than the USA in charge is the USA NOT in charge")
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To: GilGil

Stop this BS.

Lockheed only has 123,000 employees!

Spreading stupid stories like this, is irresponsible and reflects poorly on FR.


6 posted on 11/01/2012 8:55:52 AM PDT by Professional
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To: GilGil

Strange times!

LM is up 81 centavos to $94.47.

Lots of family have retired from Lockheed, still have a few friends working there.. they are a vastly different company from years ago and have diversified into all types of fields as a result.

Skrew Obama. He couldn’t light a sparkler if ya gave him a blowtorch.. which he probably couldn’t light either.


7 posted on 11/01/2012 8:56:22 AM PDT by NormsRevenge (Semper Fi)
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To: GilGil

I can see the unions lining up already if there are layoffs and the WARN act was not adhered to. But no worries, our tax dollars will pay for any lawsuits apparently. Or not.

Lucky for me, LM laid me off over a year ago so I have no fear of getting pink slipped this time. Fortunately for me I was able to take retirement the same day. Combined with SS benefits, our take home is now 80% less. But, surviving anyway. Glad to be out of the corporate BS after so many years and all the diversity BS being shoved down our throats.

Helping keep mankind warm for 65 years.


8 posted on 11/01/2012 8:58:04 AM PDT by rktman
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To: GilGil

Good grief, no, there are not going to be 500,000 layoffs in the sector, because that is roughly how many employees there are... There are believed to be 350,000 employees for the major companies in the US employed in defense.


9 posted on 11/01/2012 8:58:07 AM PDT by Professional
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To: Professional

must be the wrong kind of tea ...


10 posted on 11/01/2012 8:58:30 AM PDT by RitchieAprile (look out for the Bull!)
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To: Professional

Direct Competitor Comparison
LMT BA NOC RTN Industry
Market Cap: 30.38B 53.62B 16.97B 18.91B 640.00M
Employees: 123,000 171,700 72,500 71,000 3.50K


11 posted on 11/01/2012 8:59:07 AM PDT by Professional
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To: Professional

The article sources yahoo.com


12 posted on 11/01/2012 8:59:07 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


13 posted on 11/01/2012 8:59:15 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


14 posted on 11/01/2012 8:59:15 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


15 posted on 11/01/2012 8:59:15 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


16 posted on 11/01/2012 8:59:15 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


17 posted on 11/01/2012 8:59:15 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


18 posted on 11/01/2012 8:59:15 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


19 posted on 11/01/2012 8:59:15 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


20 posted on 11/01/2012 8:59:15 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


21 posted on 11/01/2012 8:59:19 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


22 posted on 11/01/2012 8:59:19 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


23 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: CodeToad

My husband is sweating this. He is in the computer end of things after 35 years full time in the Air Guard. He lost his job for six months when the contractors changed. He got hired back when they realized that he is the only one on the planet that can really do that job. Now this. We nearly went under. Trying to get a job when you are in your sixties sucks.


24 posted on 11/01/2012 8:59:24 AM PDT by Himyar
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To: Professional

The article sources yahoo.com


25 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


26 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


27 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


28 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


29 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


30 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


31 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


32 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


33 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: Professional

The article sources yahoo.com


34 posted on 11/01/2012 8:59:24 AM PDT by GilGil
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To: CodeToad

My husband is sweating this. He is in the computer end of things after 35 years full time in the Air Guard. He lost his job for six months when the contractors changed. He got hired back when they realized that he is the only one on the planet that can really do that job. Now this. We nearly went under. Trying to get a job when you are in your sixties sucks.


35 posted on 11/01/2012 8:59:51 AM PDT by Himyar
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To: Himyar

Yell me about it. I’m 55


36 posted on 11/01/2012 9:01:40 AM PDT by GilGil
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To: GilGil

So does the article sources yahoo.com?

I can’t tell


37 posted on 11/01/2012 9:02:01 AM PDT by SengirV
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To: GilGil

Ya’ think?


38 posted on 11/01/2012 9:02:06 AM PDT by Loud Mime (What really matters?)
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To: GilGil

source?


39 posted on 11/01/2012 9:02:23 AM PDT by don-o (He will not share His glory and He will NOT be mocked! Blessed be the name of the Lord forever.)
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To: GilGil

Well, why don’t you tell these real, or fake, tea people that they need to calibrate their numbers...

Is there going to be a downsizing in the sector, yes, and there probably needs to be. 25-35k in layoffs, that would not surprise me. Though BA may ramp up numbers because of commercial aviation production, as 787 ramps up. That plane alone, is going to be a 30 yr producer. Basically, people assume that what 747 and 737 did for BA, is coming from 787.


40 posted on 11/01/2012 9:02:37 AM PDT by Professional
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To: GilGil

Shouldn’t be a problem, Mitt has 12M jobs ready to go next wed.


41 posted on 11/01/2012 9:03:18 AM PDT by stuartcr ("When silence speaks, it speaks only to those that have already decided what they want to hear.")
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To: GilGil

What brand of phone are you posting from?


42 posted on 11/01/2012 9:05:10 AM PDT by Fresh Wind (If Obama is an empty chair, then Biden is the whoopee cushion.)
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To: Himyar

Sorry to hear about your struggles. Take heart in the fact that your husband IS qualified, and knows something of great importance. If possible, he should find some similar colleagues and start their own firm. IN 3 yrs, he’ll make more money than he ever did, and be happy... Oh, and he’ll have equity value in his company for you, your kids, and estate.

Hey, it worked for me. Started my firm back in 4/09, during the worst of times. It was easier than I thought, and couldn’t be happier.


43 posted on 11/01/2012 9:05:16 AM PDT by Professional
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To: GilGil

I’m sorry Gil²....what was the source?


44 posted on 11/01/2012 9:05:29 AM PDT by Bloody Sam Roberts ("The heart of the wise inclines to the right, but the heart of the fool to the left." Ecclesiastes 1)
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To: SengirV

Here is the yahoo.com source in the article. It is in the first excerpt. The author clearly said his source was yahoo.com! http://news.yahoo.com/did-lockheed-martin-just-win-virginia-obama-183231738.html;_ylt=A2KJ3Ca_d2pQyGwA_UrQtDMD


45 posted on 11/01/2012 9:05:51 AM PDT by GilGil
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To: Bloody Sam Roberts

http://news.yahoo.com/did-lockheed-martin-just-win-virginia-obama-183231738.html;_ylt=A2KJ3Ca_d2pQyGwA_UrQtDMD


46 posted on 11/01/2012 9:07:09 AM PDT by GilGil
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To: All

You know, I wish we had so way of getting this news out but the media has pretty much embargoed anything to do with Obama that isn’t a glowing story.

I just don’t think it matters, like the tree that falls in the woods.


47 posted on 11/01/2012 9:08:01 AM PDT by newnhdad (Where will you be during the Election Riots of 2012/2013?)
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To: Fresh Wind

Made the mistake of hitting post several times. Was not thinking. Sometimes FR takes a few minutes to post and you simply have to wait and go do something else until it posts.Posting from laptop.


48 posted on 11/01/2012 9:09:25 AM PDT by GilGil
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To: GilGil

Tell us, who does the article source?


49 posted on 11/01/2012 9:11:58 AM PDT by crosshairs (America: Once the land of the free. Still the home of the brave.)
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To: GilGil
***...defense cuts set to begin...if the Joint Select Committee on Deficit Reduction - the so-called Super-committee, which was created to find a way to cut $1.5 trillion from the federal deficit over the next decade.”***

The answer is simple: what we need is a SUPER-DUPER Blue Ribbon Committee. That’ll get the job done alright!

50 posted on 11/01/2012 9:12:32 AM PDT by MichaelCorleone ('We the People' can and will take this country back...starting today.)
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