LockheedMartin

Defense Cuts to Clip Lockheed's Wings?

Following Congress's debt deal, the Pentagon faces up to $600 billion in cuts, on top of $400 billion previously demanded by the president. What might this mean for Lockheed Martin, the contractor whose F35 Joint Strike Fighter -- intended to be a "cost effective" project -- has already become a fiscal and logistical disaster?

Lockheed Martin's F-35 Could Be Delayed by Three Years

Lockheed Martin Corp.%u2019s (LMT) new F-35 fighter jet could be delayed by as long as three years, with development costs soaring by as much as $5 billion, Reuters reported. The Pentagon has estimated the cost of the F-35 program could top $380 billion, its most expensive weapons program ever. The program was restructured earlier this year, adding 13 months to the development phase.