Aircraft > Specials > Lockheed Martin > Lockheed Martin KC-130

  • Lockheed misses out on $31.5 million in F-35 performance bonuses

12J00087_55Bloomberg News reporter Tony Capaccio reports that Lockheed Martin's under performance on the F-35 program cost it $31.5 million last year.

Lockheed achieved only two of five performance goals set by the Defense Department, each of which was worth $10.5 million in performance fees.

it was the second straight year Lockheed has failed to earn all of the performance fees after former Defense Secretary Robert Gates tightened payment criteria for the F-35, the Pentagon’s most costly weapons program, in February 2010.

Falling short on the milestones “matters to Lockheed Martin shareholders,” Byron Callan, director of defense analysis for Capital Alpha Partners LLC, in Washington, said in an e-mail. “Clearly, if incentives aren't being earned, it means the program isn't exceeding expectations. Being on track might be OK, but being on firmer ground would be even better in this budget environment.”

Higher fees to Lockheed Martin would confirm “what investors have been hearing -- that the program is making progress and test milestones are being knocked down,” he said.

- Bob Cox

 

 

Tags

Aircraft

F-35
Lockheed Martin KC-130
F-35 Lightning II

Aircraft Manufacturer

Lockheed Martin

City

Washington

Person

Bob Cox

Article Categories


Comments - please comment below...

Required fields
Using a recaptcha to prove you're not a script

Spam is a scourge for all websites, so webmasters have to take measures to ensure that thier sites are protected. One of the best ways of protecting a site is to create a task on the signup/commenting forms, that only a human can do with reasonable accuracy. CAPTCHAs ("Completely Automated Public Turing test to tell Computers and Humans Apart") as shown below ask you to read some distorted text, which the average computer finds very hard to do.

You can use the control buttons in the captcha to help you as follows.

Refresh Button - If you're having trouble working out the words to enter, you can request a new set of words, without having to submit your form by pressing the refresh button.

Audio Button - Alternatively if you have trouble with your vision, you can use the audio CAPTCHA, pressing the audio button will playback a set of words for you to type in.

The words you enter need not have the same uppercase/lowercase as the images shown, the system ignores case, likewise it only uses the characters a-z and 0-9, so you dont have to enter any odd characters, accents etc.

 
Please prove you're a real person and not a computer program up to no good.