Skip to main content

Lockheed Martin Executive Defends F-35 After Criticism From Acting Secretary of Defense

Lockheed Martin Executive Defends F-35 After Criticism From Acting Secretary of Defense

  
An Air Force F-35A Lightning II fighter jets takes off for from RAF Lakenheath, England on April 19, 2017. WILLIAM HOWARD/STARS AND STRIPES
WASHINGTON — Executives from Bethesda, Maryland-based defense giant Lockheed Martin sought to reassure investors after a top Defense Department official criticized the cost of the F-35 Joint Strike Fighter, a $90 million jet that is the crown jewel of Lockheed's business, in a news conference Tuesday morning.
Acting Secretary of Defense Patrick Shanahan, a former Boeing executive, said the F-35 "has room for a lot more performance" in response to questions about whether he is biased toward his former employer, which competes with Lockheed for Pentagon weapons deals. His comments come amid news reports that the Pentagon is considering buying F-15 fighter jets from Boeing.
"I am biased toward performance," Shanahan said. "I am biased toward giving the taxpayer their money's worth. And the F-35, unequivocally, I can say, has a lot of opportunity for more performance."
Lockheed Martin chief executive Marillyn Hewson responded by saying she had been assured by Defense Department officials that any purchase of Boeing F-15 jets would not affect how many F-35s it buys.
"If they chose to have an order on F-15 . . . it won't be at the expense of F-35 quantities," Hewson told investors. "I'm hearing that directly from the leadership in the Pentagon . . . not just our suspicion, but I've been told that directly. So I'm not concerned about that."
Almost since its inception, the F-35 has been criticized by acquisition experts and politicians from both parties for its soaring costs. Longtime chairman of the Senate Armed Services Committee John McCain called it a "poster child for acquisition malpractice" as he took the Pentagon and Lockheed Martin to task for delays and cost overruns.
President Donald Trump drew attention to the plane's "out-of-control" costs in a tweet early in his presidency, in which he threatened to "price out a comparable F-18 Super Hornet" to save money on the F-35 as the Defense Department was negotiating with Lockheed Martin over the price of its 10th shipment of 90 planes. The Defense Department later announced a deal that was roughly in line with what had already been planned, shaving an estimated $728 million in costs.
The F-35 has continued to be a major driver of business for Lockheed Martin. Earlier this year, the company announced that it had added more than 250 aircraft to its order backlog at an estimated value of $19 billion, bringing the company's overall order backlog to over 400 aircraft.
In a Tuesday call with investors, Hewson seemed to push back on criticism of the plane's costs, pointing to her company's progress toward getting the plane's unit cost down to $80 million. The plane's sticker price dropped below $90 million for the first time last year as the company has been producing the planes at a faster rate.
"We're going to continue to drive the price down . . . and we won't stop there," Hewson said. "We will always be looking at ways that we can take cost down in the program as it continues to mature and grow."


 skunty empire

Comments

TRENDING

Stormy Daniels seeks Trump testimony on her sex claims

How Generative AI is Transforming Healthcare

Two Ingredient No Yeast Pizza Dough

How to prepare Seared Steak

Home made Magnolia Bakery’s Banana Pudding

How to prepare Menemen

Drinking Water Crisis in Rural Towns

Trump friend says president told him to expect one or two more major personnel changes

Popular posts from this blog

Stormy Daniels seeks Trump testimony on her sex claims

New post Stormy Daniels seeks Trump testimony on her sex claims 25 minutes ago Share this with Facebook   Share this with Twitter   Share Media caption Stormy Daniels: 'I was threatened' Adult-film star Stormy Daniels has filed a court motion for US President Donald Trump to testify about her claim that they had a relationship. Her lawyer wants sworn testimony from Mr Trump about a "hush" agreement the actress says she signed. The attorney, Michael Avenatti, is also seeking a legal interview with the president's lawyer. Ms Daniels alleges she had unprotected sex with Mr Trump in 2006 a year after he married Melania Trump. He denies it. Mr Avenatti's motion, filed in a court in the Central District of California early on Wednesday, ramps up the legal duel between the porn star and the president. Should Trump be worried about Stormy Daniels? The president and the porn star: Why this matters Ex-model ...

How Generative AI is Transforming Healthcare

  How Generative AI is Transforming Healthcare: A New Era of Personalized Medicine In this blog post, we will explore one of the most fascinating and impactful trends in modern healthcare – the use of generative artificial intelligence (AI) technology.  This innovative approach is set to change the face of personalized medicine by creating new opportunities for diagnosis, treatment planning, drug discovery, and patient care. As the world faces complex medical challenges, generative AI can offer solutions that are more effective, efficient, and equitable. The Role of Generative AI in Healthcare Generative AI is a powerful tool that can create new insights from massive amounts of data. This state-of-the-art technology can generate customized solutions that suit the needs of each patient, leading to better treatments and outcomes.  The potential benefits are immense, affecting various aspects of healthcare delivery, such as: Drug Discovery:  Generative AI algorithms can...

Two Ingredient No Yeast Pizza Dough

  Pizza at home shouldn't be a scary errand. With a little assistance from the wizardry of self-rising flour this batter meets up rapidly, with only one extra fixing. Prepare the mixture in minutes, and afterward embrace your inventiveness with garnishes. A Mediterranean pie, a meat-darling's enjoyment, or even a taco pizza to fulfill two desires without a moment's delay, are only a couple of thoughts to begin. The choices are interminable and outfitted with this mixture, you can get imaginative (and supper on the table) right away. This formula yields sufficient mixture for two 10-inch round pizzas. INGREDIENTS   2 cups self-rising flour 1 cup full-fat Greek yogurt Preparation  Step 1  Gather ingredients. Step 2 Mix together the flour and yogurt in a large bowl with a fork until a dough forms. At first, the dough may appear dry but continue to mix until a shaggy dough comes together. Step 3 Turn the dough out onto a lightly floured work surface and knead the do...

How to prepare Seared Steak

  Reverse-Seared Steak Time 45 to 55 minutes, plus lighting the grill Reverse-searing is a grilling technique for steak that ensures a dark, sizzling crust and a rosy center that is perfectly cooked to your desired degree of doneness. This brilliant grilling method combines the low and slow cooking of traditional barbecue with the high heat charring practiced at steakhouses. Though it works well with any thick steak, from picanha to porterhouse, this recipe calls for a cut of steak popularized in Santa Maria, Calif., and is today known and loved across the U.S. as tri-tip. As the name suggests, it’s a triangular or boomerang-shaped steak cut from the tip of the sirloin, blessed with a robust beefy flavor. INGREDIENTS Yield : 4 servings * 1large or 2 small wood chunks (such as oak, hickory or mesquite) or 1½ cups wood chips * Canola oil, for greasing the grill grate * 1tri-tip steak (about 2 to 2¼ pounds; see Tip) * Coarse kosher or sea salt * Freshly ground black pep...