Thursday, April 18, 2013
EPA applauds companies for leadership in use of renewable energy.
Bethesda-based defense giant Lockheed Martin Corporation ranked ninth on the Environmental Protection Agency's list—released Wednesday—of organizations using renewable energy, according to an EPA news release. Microsoft Corporation, whose Mid-Atlantic District headquarters is in Chevy Chase, came in at No. 2 on the list of the nation's top 50 organizations "that are choosing to use electricity from clean, renewable sources." Microsoft "moved into second place by increasing its green power use to more than 1.9 billion kilowatt-hours (kWh) annually," the news release added. The top 10 renewable energy-using organizations in the country, according to the EPA, are: "We applaud the leadership demonstrated by organizations that are helping …
Thursday, April 11, 2013
24/7 Wall Street has named the Bethesda-based defense giant among nine largest companies that can't get bigger.
Bethesda-based defense giant Lockheed Martin has been named by 24/7 Wall Street as one of the nine largest American companies that can't grow. Lockheed's heavy reliance on the federal government for sales and the lack of growth in its market, combined with federal cutbacks that will likely affect defense projects, earned it a spot on the list, according to the report. The companies that qualified for the list were among the 100 largest in sales, had a sales growth of 3 percent or less in recent years and had a growth estimate of less than 3 percent for 2013, 24/7 Wall Street reported, citing Capital IQ data. Revenues at Lockheed rose only slightly from $46.5 billion in 2011 to $47.2 billion in 2012, according to the report. Other companies…
24/7 Wall Street has named the Bethesda-based defense giant among nine largest companies that can't get bigger.
Bethesda-based defense giant Lockheed Martin has been named by 24/7 Wall Street as one of the nine largest American companies that can't grow. Lockheed's heavy reliance on the federal government for sales and the lack of growth in its market, combined with federal cutbacks that will likely affect defense projects, earned it a spot on the list, according to the report. The companies that qualified for the list were among the 100 largest in sales, had a sales growth of 3 percent or less in recent years, and had a growth estimate of less than 3 percent for 2013, 24/7 Wall Street reported, citing Capital IQ data. Revenues at Lockheed rose only slightly from $46.5 billion in 2011 to $47.2 billion in 2012, according to the report. Other …
Tuesday, April 9, 2013
The legislation would exempt defense giant Lockheed Martin from paying hotel taxes on its conference center.
A bill that would exempt Bethesda-based defense giant Lockheed Martin from paying taxes on its conference center passed the Maryland House of Delegates Monday, Maryland Juice reported. If the measure is approved, Lockheed would be exempted from about $450,000 a year in taxes, The Washington Post reported. The version of the legislation that passed the Senate last month dropped language that would have required Montgomery County to pay Lockheed a $1.8 million refund, Maryland Juice reported. The bill would apply to Maryland companies that operate lodging facilities used only to support training or conference centers—a description Sen. Nancy J. King (D-Montgomery) said currently applied only to Lockheed Martin, The Post reported. Opponents …
The legislation would exempt defense giant Lockheed Martin from paying hotel taxes on its conference center.
A bill that would exempt Bethesda-based defense giant Lockheed Martin from paying taxes on its conference center passed the Maryland House of Delegates Monday, Maryland Juice reports. If the measure is approved, Lockheed would be exempted from about $450,000 a year in taxes, The Washington Post reported. The version of the legislation that passed the Senate last month dropped language that would have required Montgomery County to pay Lockheed a $1.8 million refund, Maryland Juice reported. The bill would apply to Maryland companies that operate lodging facilities used only to support training or conference centers – a description Sen. Nancy J. King (D-Montgomery) said currently applied only to Lockheed Martin, The Post reported. Opponents …
Tuesday, March 26, 2013
The bill that would exempt Lockheed Martin's conference center from Montgomery County's hotel tax is heading to the House Ways and Means Committee.
The Maryland Senate has voted to support a bill that would exempt Lockheed Martin from paying taxes on its Bethesda training center, and the legislation is moving on to the House Ways and Means Committee, Maryland Juice reports. If the measure is approved, Lockheed would be exempted from about $450,000 a year in taxes, The Washington Post reports. The version of the legislation that passed the Senate dropped language that would have required Montgomery County to pay the Bethesda-based defense giant a $1.8 million refund, Maryland Juice reported. The bill would apply to Maryland companies that operate lodging facilities used only to support training or conference centers – a description Sen. Nancy J. King (D-Montgomery) said applied only to…
Tuesday, March 12, 2013
Debate over the lodging facility Lockheed operates for its Bethesda training center has emerged once again, The Washington Post reports.
The Maryland Senate has advanced a bill that would exempt Lockheed Martin from paying taxes on its Bethesda training center, The Washington Post reported. If the measure is approved, Lockheed would be exempted from about $450,000 a year in taxes and the county could owe the Bethesda-based defense giant a $1.4 million refund, according to the report. The bill would apply to Maryland companies that operate lodging facilities used only to support training or conference centers—a description Sen. Nancy J. King (D-Montgomery) said applied only to Lockheed, but for which other facilities may qualify in the future, The Post reported. Sen. Bryan W. Simonaire (R-Anne Arundel) called the bill a “carve-out” for Lockheed Martin, according to the …
Monday, March 11, 2013
Debate over the lodging facility Lockheed operates for its Bethesda training center has emerged once again, The Washington Post reports.
The Maryland Senate has advanced a bill that would exempt Lockheed Martin from paying taxes on its Bethesda training center, The Washington Post reports. If the measure is approved, Lockheed would be exempted from about $450,000 a year in taxes and the county could owe the Bethesda-based defense giant a $1.4 million refund, according to the report. The bill would apply to Maryland companies that operate lodging facilities used only to support training or conference centers – a description Sen. Nancy J. King (D-Montgomery) said applied only to Lockheed, but for which other facilities may qualify in the future, The Post reported. Sen. Bryan W. Simonaire (R-Anne Arundel) called the bill a “carve-out” for Lockheed Martin, according to the …
Tuesday, February 19, 2013
The retiring heads of two Lockheed Martin Corp. divisions will receive $1.2 million each in bonuses, the Washington Business Journal reports.
Two top retiring executives at the Bethesda-based Lockheed Martin Corp. will receive $1.2 million each in bonuses, according to a Washington Business Journal report. Lockheed executive vice president of Space Systems Joanne Maguire and executive vice president of Information Systems and Global Solutions Linda Gooden will receive the bonuses, according to the report, which cited a Securities and Exchange Commission filing. Neither will receive severance or termination benefits beyond the bonuses, according to the report. Both will stay on as employees through May 1. Gooden will also be reimbursed for penalties owed to the Internal Revenue Service after Lockheed mistakenly distributed a long-term incentive award she had chosen to defer. Read…
Thursday, February 7, 2013
Lockheed spokeswoman Nettie Johnson said the company expects to reduce its workforce by about 300 to 350 employees, The Washington Post reported.
Looking to shrink its workforce by "about 300 to 350 employees," Lockheed Martin is offering a voluntary layoff program to a select group of mid-level managers, The Washington Post reported. The company, head-quartered in Bethesda, is giving certain employees in its Gaithersburg-based information systems unit the chance to nominate themselves for layoffs, ahead of non-voluntary selections. Certain employees within sectors including the transportation solutions and defense businesses are eligible for the program, a memo issued by Lockheed said, according to the report. The Washington Post reports Lockheed said in a statement that the “reduction in force is designed to best position the business to remain competitive and operationally …
Eric S.
9:59 am on Friday, April 12, 2013
Yeah, nothing against the company at all. You're right that they're big and need to work on a different timeline. I was just addressing the point that they're not going to grow anytime soon. They're also the biggest of their kind in an industry that is already hard to grow in, so it's not a shocker. And yeah, I expect any non-govt. work will be done via partnerships or buying smaller companies. … more ›