Trump targets Lockheed Martin's F-35 fighter jet costs

[Calista241]

Source: Reuters

(Reuters) - U.S. President-elect Donald Trump took aim at another major defense contractor on Monday, saying the cost of Lockheed Martin's F-35 fighter jet program was too high.

The aerospace giant's shares dropped about 4 percent in early trading after Trump's tweet, while shares of several other defense contractors also weakened.

"The F-35 program and cost is out of control," Trump said on Twitter. "Billions of dollars can and will be saved on military (and other) purchases after January 20th."

Jeff Babione, Lockheed Martin's F-35 program leader, responded by saying the company understands concerns about affordability and has invested millions of dollars to reduce the jet's price.

Read more: https://www.google.com/amp/mobile.reuters.com/article/amp/idUSKBN1411HF?client=safari

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For once he's said something I agree with.

[randr]

1. Anymore questions re: our Russian mole

[bluedigger]

2. That is some low hanging fruit he's picking.

Few F-35 supporters outside of L-M's sphere of influence.

[BeyondGeography]

3. Shiny object/distraction

Means he's having a bad time with the real story of the moment.

[yallerdawg]

4. Corrupt Trump is freakin' insane.

There isn't a store you go to to buy fighter jets.

We don't go offshore for them, like TVs and iPhones.

On the other hand, screwing with Lockheed Martin will seriously speed up his removal from office!

[underpants]

5. I agree but wait until he finds out how things work

The Pentagon brass sees POTUS's as temps and they are much more interested in making sure they have their retirement military contractor job liked up.

[Ford_Prefect]

6. What sort of payoff is he looking for now? Preferred stock?

[snooper2]

9. Probably want Putin to put his name on the Kremlin after he buys new Russian jets

[shraby]

7. Remember, he's working for the Kremlin now. In that light, wouldn't he

want to make us weaker? If we have better planes than Russia, that disadvantages Russia.

[cstanleytech]

11. Its a distraction as the f-35 has been in the news for years about the problems and the cost so this

is not some major revelation by him to the american people.

[wishstar]

8. But Trump probably wants to eliminate unions and reduce workers' pay to save costs

Make fewer employees work harder at lower pay. I doubt he wants the highest executives to take any pay cuts.

[JudyM]

10. What's with his focus on aircraft?

[malthaussen]

12. So he's gone after Boeing and Lockheed.

He must own shares in General Dynamics.

-- Mal

[NWCorona]

13. Or more likely in Mikoyan

[Pachamama]

14. Comrade Trumpski figures using Nukes on Middle East and China are soooo much cheaper...

[jmowreader]

15. There are 2.88 million LMT shares held short

http://shortsqueeze.com/shortinterest/stock/LMT.htm

Notice that every time Trump goes off on some company that's got quite a bit of short interest, like Boeing the last time Trump went off, that company's shares drop - EXACTLY what a professional short needs to happen.