Title: Lockheed Martin: Corporate Rap Sheet | Corporate Research Project
Headings: Lockheed Martin: Corporate Rap Sheet
Lockheed Martin: Corporate Rap Sheet
Lockheed Martin

Content: Lockheed Martin: Corporate Rap Sheet | Corporate Research Project
Lockheed Martin: Corporate Rap Sheet
Lockheed Martin
By Philip Mattera
Lockheed Martin’s slogan is “we never forget who we’re working for.” That’s not difficult, given that the company receives more than 80 percent of its revenue from the U.S. government, mostly the Pentagon. Formed by the 1995 “merger of equals” of two major aerospace companies—Lockheed and Martin Marietta—it is the largest federal contractor and the largest weapons producer in the world. Lockheed, which had to be bailed out by the federal government in the 1970s, has been involved in numerous controversies involving questionable foreign payments, cost-overruns, overbilling of the federal government, race and age discrimination, and environmental racism. The Project On Government Oversight’s Federal Contractor Misconduct Database has 58 entries for Lockheed involving more than $600 million in fines, damages and other payments. Government Contracting
In March 1998 Lockheed and Unisys agreed to pay $3.15 million to settle charges of artificially inflating prices of spare parts sold to the Commerce Department for the NEXRAD Doppler Radar System. In June 2000 the State Department fined Lockheed $13 million ($5 million of which was to pay for remedial measures) for violations of the Arms Control Export Act in connection with the transfer of information about space launches to China. In August 2002 Lockheed’s Tactical Systems Division agreed to pay the federal government $2.1 million to settle charges that it submitted fraudulent bills to the Navy for work on Trident Missiles.