Trump tweets that F-35 program is costly---Lockheed Stock Drops--Trumps says Cuts, Billions...

Trump tweeted about the cost of military purchases, and he will cut billions. Even though Trump didn't mention Lockheed, they seemed to know it was them he was tweeting about. The US military made up 78% of Lockheed's revenues. Looks like the there may be some fiscal responsibility forced on the military, no BLANK CHECKS...

— Shares of Lockheed Martin fell Monday, wiping out nearly $4 billion of the company's market value, as President-elect Donald Trump tweeted that making F-35 fighter planes is too costly and that he will cut "billions" in costs for military purchases.

Trump didn't mention any specific company in his tweet, but Bethesda, Maryland-based Lockheed makes the F-35 one-seat fighter aircraft and is a major U.S. defense contractor.

The F-35 program made up 20 percent of Lockheed's total 2015 revenue of $46.1 billion. And U.S. government orders made up 78 percent of its revenue last year. The F-35 program directly or indirectly supports more than 146,000 U.S. jobs, according to the company's website .

finance.yahoo.com...

Lockheed worked to lower the price of the 35 by more than 60%. They welcome any questions, I'm sure they do, their business depends on the tax payers paying for the weapons that keep us safe. I wounder what Trump will have to say about the 14,000,000,000$ super carrier, with a 23% over run.

In a statement Monday, Lockheed said that it has worked to lower the price of the F-35 by more than 60 percent and said it expects the aircraft to cost $85 million in 2019 and 2020.

"We welcome the opportunity to address any questions the president-elect has about the program," said Jeff Babione, general manager of the F-35 program. "It's an amazing program."

Isn't the F-35 kind of out of date now? The project has definitely overrun costs already, I kind of wonder if it's intentional. Its a shame that in order for people to keep jobs, they have to work on weapons of war. I know we need to have an advanced military, but I'm sure it can be done a lot more efficiently than it has been.

a reply to: eXia7
Blank checks given out is a huge issue. The cost and over runs are a running joke.

Be careful, there are people who hold these projects very close to their hearts.

a reply to: seasonal

Well, Maybe they should ask the pentagon where that $6.5 trillion went. Then their overpriced, outdated air plane could've been funded no problem.

Doesn't the F35 require tons of maintenance for short flight hours? We have F35's at our local AFB, I see them all the time, they are always doing touch and go landings.. but then again they train pilots here.

a reply to: eXia7

Don't even think about asking about the raptor, the hanger queen that's top secret coating is flaking off. Just like a 1989 ford F150.

a reply to: seasonal

Yeah I read about that. It's a shame that these planes have these issues. They are both gorgeous looking aircraft. Maybe they can re-use them as fighter drones in the future who knows. I'd hate to see these things sitting in a boneyard in the near future.

a reply to: seasonal

So do we find out who's making the Super Carrier and short their stock so when Trump tweets out he's canceling that order we can make a killing when the companies value dips. This happened with both Boeing and Lockheed.

I wonder if any Trump insiders or Trumps businesses shorted those stocks before the tweets. Can you imagine that SEC nightmare?

F-35 was supposed to be the cheapest stealth combat aircraft ever built. Ironically now it's the most expensive. I would say the program needs to be axed and make improvements to the semi-autonomous combat UCAV projects.

A.I. Combat UCAVs are the future.

This is exactly the kind of shakeup we need. It's nice to not only see the big bad war companies recoil in fear when they're called out but they get a little payback in the process.

I get that people will loose jobs over this but when the company you work for is doing bad business, I'm sorry, thems the breaks.

a reply to: 4N0M4LY

You are correct, the need to have pilots in combat may very well be on it's way out. And this $ could have gone into some other things, like the drones.

originally posted by: seasonal
a reply to: 4N0M4LY

You are correct, the need to have pilots in combat may very well be on it's way out. And this $ could have gone into some other things, like the drones.

That money should go to something non war related.

But I guess I'm one of those hippy liberals that would rather see infastructure, healthcare, and education taken care of before toys 4 warz.

a reply to: RomeByFire

I agree we should take serious look at those you mentioned. I have no problem with improving them.

originally posted by: eXia7
Isn't the F-35 kind of out of date now? The project has definitely overrun costs already, I kind of wonder if it's intentional. Its a shame that in order for people to keep jobs, they have to work on weapons of war. I know we need to have an advanced military, but I'm sure it can be done a lot more efficiently than it has been.

If by out of date you mean the most advanced plane there is, doing missions no other plane could dream of doing .. then yeah, definitely.

originally posted by: 4N0M4LY
F-35 was supposed to be the cheapest stealth combat aircraft ever built. Ironically now it's the most expensive. I would say the program needs to be axed and make improvements to the semi-autonomous combat UCAV projects.

A.I. Combat UCAVs are the future.

Totally .. except it's actually about HALF what the F-22 costs, and costs are dropping still.

originally posted by: RomeByFire

originally posted by: seasonal
a reply to: 4N0M4LY

You are correct, the need to have pilots in combat may very well be on it's way out. And this $ could have gone into some other things, like the drones.

That money should go to something non war related.

But I guess I'm one of those hippy liberals that would rather see infastructure, healthcare, and education taken care of before toys 4 warz.

So we can all be healthy when China/Russia come strolling in.

How come we cant just have China and Mexico build our military stuff at a super savings? LOL! Just kidding!

a reply to: visitedbythem

Careful, they will, profits at any costs.

originally posted by: OccamsRazor04

originally posted by: eXia7
Isn't the F-35 kind of out of date now? The project has definitely overrun costs already, I kind of wonder if it's intentional. Its a shame that in order for people to keep jobs, they have to work on weapons of war. I know we need to have an advanced military, but I'm sure it can be done a lot more efficiently than it has been.

If by out of date you mean the most advanced plane there is, doing missions no other plane could dream of doing .. then yeah, definitely.

F-35 has been obsolete for two years since the S-400 weapons systems have been in the field.

We are under contract for the f35.
He can affect future orders but not current ones.
This plane is the next 40 years of the military.
Besides our older planes can't stay in the air so we have to replace them.

a reply to: Bluntone22

The present planes are falling out of the air?