Tag: Lockheed Martin

U.S. Congress poised to limit contractor pay: Is $487,000 a year enough?

U.S. Congress poised to limit contractor pay: Is $487,000 a year enough?

By Andy Sullivan 1 hour ago
A general view of the U.S. Capitol Dome in Washington

A general view of the U.S. Capitol Dome in Washington, October 4, 2013. REUTERS/Jonathan Ernst

By Andy Sullivan

WASHINGTON (Reuters) – Congress is poised to nearly halve the salary cap for U.S. government contractors after years of dramatic increases driven by skyrocketing executive pay.

A broad budget bill that won approval by the House of Representatives on Thursday would lower the cap to $487,000 a person, down from its current level of $952,000. The Senate is expected to pass the bill next week.

The measure would be a partial victory for the White House, which for years has sought to rein in contractor reimbursements that fund salary and other personnel costs. In May, the White House proposed limiting the reimbursement level to $400,000 a person – the amount Barack Obama earns as president.

At least 616 employees at contracting companies earned more than that last year, according to the Government Accountability Office. Continue reading “U.S. Congress poised to limit contractor pay: Is $487,000 a year enough?”

Contractors find little relief from government shutdown impacts

Contractors find little relief from government shutdown impacts

By , Updated: Tuesday, October 8, 8:44 PM E-mail the writer

Steve Shockley has burned through vacation time to shield his family from the lapse in federal appropriations that forced him out of work indefinitely last week. He planned to use his last day on Wednesday.

The resident of South Riding, Va., a contracted technical writer for the Justice Department, is supporting a wife, who just opened a new preschool last month, and three children, ages 7, 8 and 9.

The short-term former Democratic senator is going back to Mintz, Levin, Cohn, Ferris, Glovsky and Popeo in Boston.

Ten Questions That USASpending.Gov Can’t Answer

POGO Project On Government Oversight - Blog

 Ten Questions That USASpending.Gov Can’t Answer

May 15, 2013

1. How many federal dollars are spent in my community?

Problem: USASpending.gov gives limited state-level spending summaries, but there is no data on a more local level. Searching for federal contract and assistance awards by congressional district, one will find an alarming number of “Unknown” congressional districts (and even some districts blatantly lumped together)—unknown districts with billions of dollars of funding over the years make the whole dataset suspect. There are no spending summaries on a county or municipal level.

2. What small businesses in my community are receiving federal dollars?

Problem: While some data on this is available on USASpending.gov, many local businesses and organizations are left out. Only the first two levels of award recipients are reported, prime awardees (e.g., states) and first-tier sub-awardees (e.g., counties and municipalities). Often there are several levels of federal spending allocation, so local businesses can be second or third-tier sub-awardees and thus are left out of reporting. Continue reading “Ten Questions That USASpending.Gov Can’t Answer”

As federal belts tighten, contractor CEOs enjoy million-dollar raises

As federal belts tighten, contractor CEOs enjoy million-dollar raises

Apr. 23, 2013 – 09:13PM   |

By JIM McELHATTON   |

On the same day in March that Lockheed Martin warned that the sequester could lead to thousands of employee furloughs and layoffs, the nation’s largest federal contractor disclosed that it had just boosted the compensation of its former CEO by more than $2 million.

Former Lockheed Martin CEO Robert Stevens testifies before the House Armed Services Committee in 2012.Former Lockheed CEO Robert Stevens, who retired as CEO on Jan. 1 but remains chairman, saw his overall compensation rise from $23.4 million in 2011 to $27.5 million in 2012, according to Securities and Exchange Commission (SEC) forms.

The disclosure shows how even with a looming sequester, budget standoffs and defense cutbacks, federal belt-tightening hasn’t yet hit the wallets of top executives for some of the nation’s biggest federal contractors.

“I don’t think you’re going to start seeing that until companies’ numbers are going flat and negative,” said Paul Dorf, managing director of Compensation Resources Inc. Continue reading “As federal belts tighten, contractor CEOs enjoy million-dollar raises”

Lockheed Campaign Cash Has Flowed to Members of House Panel Probing F-22 Problems

POGO Project On Government Oversight

Sep 13, 2012

Lockheed Campaign Cash Has Flowed to Members of House Panel Probing F-22 Problems

 

Pogo_special_report_box

By JACOB WASHKURAK, JOHN PARKER and BEN FREEMAN

When members of a House subcommittee convene today for a hearing on the troubled F-22 stealth fighter, they’ll have more in common than just an interest in the mysterious symptoms that caused some pilots to declare the plane unsafe to fly earlier this year.

All but one of the 25 subcommittee members have received contributions in the current election cycle from individuals or political action committees associated with Lockheed Martin, the prime contractor on the F-22, according to a Project On Government Oversight (POGO) analysis of data from the Center for Responsive Politics.

The one exception, Pennsylvania Republican Todd R. Platts, is retiring from Congress. In a 2010 op-ed piece, he said that as always his campaign was being funded solely by contributions from individual citizens and that he refused to accept contributions from special-interest groups. There are no records of his ever having accepted any funds from employees of Lockheed Martin during his congressional career, according to the Center for Responsive Politics. Continue reading “Lockheed Campaign Cash Has Flowed to Members of House Panel Probing F-22 Problems”

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