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.
Shouldn’t be a problem, Mitt has 12M jobs ready to go next wed.
What brand of phone are you posting from?
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.
I’m sorry Gil²....what was the source?
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
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.
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.
Tell us, who does the article source?
The answer is simple: what we need is a SUPER-DUPER Blue Ribbon Committee. That’ll get the job done alright!
Did you read the first few paragraphs? This guys source is yahoo.com. Duh! http://news.yahoo.com/did-lockheed-martin-just-win-virginia-obama-183231738.html;_ylt=A2KJ3Ca_d2pQyGwA_UrQtDMD
It is more than fines, however. Without the required 60 day notice, the contractor will have to pay the employees for 60 days while the new notice takes effect. The cost would be enormous - and unallowable.
If there are going to be layoffs let’s fire the people on the committee first and then hold off on the rest. There should be some real positive impact from getting rid of the committee.
Would be typical of Lockheed Martin to shoot themselves in the foot by helping out Obama. They have been laying off employees continuously for the last 4-5 years. I should know, I was one of those who had been avoiding a layoff. After 30 years with the company, I was laid off two months ago. If they truly are helping out Obama here, it will be like sticking a knife in the heart of those who have worked for them.
Just don’t know how Obama can win re-election with this kind of crap going on. there are a lot of people involved here. Sorry to here about your experience.
The headline is stupid, and false.
The issue was sending WARN notices, which might have to go to every employee since they wouldn’t know which employees were going to be in programs that were cut.
But they wouldn’t have to lay off more than 10% of the workforce for a 10% reduction in projects.
On the other hand, the estimate is that hundreds of thousands of jobs will be lost in Virginia if sequestration happens.
Sounds like you are splitting hairs. In the end hundreds of thousands will get wiped out.
Ok, according to this story, layoff notices were going to be sent to ALL employees to send a message to the President...
Very interesting read, check this out.
The issue is that the cat is out of the bag. The employees know that thousands of heads are going to roll. Lockheed is celebrating becasue it will save a bundle becasue they won’t have any layoff coast but the employees are still screwed and tens of thousands will be let go.
How is LM saving money? If sequestration goes through, given the size of the layoffs, then WARNs will need to be issued to those being laid off. They are just pushing the cost of the layoffs out further.
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