CNN Host Is Concerned Banning Saudi Weapons Sales Hurts Corporate Profits
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13-09-2016, 07:09 AM
CNN Host Is Concerned Banning Saudi Weapons Sales Hurts Corporate Profits




In a Thursday evening interview with Kentucky Sen. Rand Paul ®, CNN anchor Wolf Blitzer expressed skepticism over Paul’s resistance to the U.S. government striking a $1.1 billion arms deal with Saudi Arabia

"defense sector jobs" is Code for "profits and bonuses to fat cats"
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13-09-2016, 07:17 AM
RE: CNN Host Is Concerned Banning Saudi Weapons Sales Hurts Corporate Profits
I'm not surprised that someone working for the Clinton News Network would be in favor of selling weapons to Saudi Arabia so they can bomb more children in Yemen.

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13-09-2016, 09:08 AM
RE: CNN Host Is Concerned Banning Saudi Weapons Sales Hurts Corporate Profits
(13-09-2016 07:09 AM)Ace Wrote:  "defense sector jobs" is Code for "profits and bonuses to fat cats"

Is it? Lockheed Martin is the biggest US defense sector contractor. 88% of their $46,130,000,000 revenue for 2015 was from the defense sector. Their 10.88% gross profits of $5.02 billion netted them $3.61 billion after a 28.29% tax of $1.42 billion. That's a net margin of 7.83%.

How does that stack up against the rest of industry in the US? According to NYU the industry average net margins for the aerospace and defense sector was 7.6%. By comparison money center and regional banks pulled net rates better than 24%. Drugs ran better than 17%. Water utilities did better than 15%. Entertainment almost hit 15%. Semiconductors hit 14.4% and computers and peripherals were at 13.5%. Green and renewable energies lost more than 6%. At those rates 7.83% doesn't sound all that high to me when compared to some other sectors. It's respectable. They didn't loose money, but the US government isn't in the business of paying big margins these days so most contractors don't earn big margins.

Yes there are some fat cats out there that way the fuck more in compensation than they are worth. You do realize I hope that most of the compensation these people get is in the form of stack options that don't actually cost their employers anything.

On the other hand some of us like to think we earn our bonuses. I'm a professional with 30 years experience in the aerospace and defense industry. That doesn't even count the seven years I spent in the military. I got a 15% bonus last year. All my projects are/were on schedule and under budget. My team closed out one 3 year $17 million contract this spring. We brought it in almost 3% under budget. We saved the company more than $500K on that project and they rewarded us for our efforts.

In fact every employee of the small business I work for that doesn't fall under a collective bargaining agreement got a cash bonus last year. Even the shelf stockers and seamstresses working in our CIF warehouses at the low end of the scale got a bonus equivalent to 2 weeks pay.

As far as "defense sector jobs" go Lockheed Martin has 126,000 employees. That's almost .1 percent of all the jobs in the US. Nationally the contractor defense work force accounts for more than 3% of the US workforce. If you include government employees and soldiers it's more than 5%. Like it or not government spending in the defense sector does equal jobs.

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13-09-2016, 10:43 PM
RE: CNN Host Is Concerned Banning Saudi Weapons Sales Hurts Corporate Profits
Maybe it's just me but I'd rather a couple thousand people be out of a job than a couple thousand children get bombed.

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14-09-2016, 02:09 AM
RE: CNN Host Is Concerned Banning Saudi Weapons Sales Hurts Corporate Profits
(13-09-2016 09:08 AM)Popeyes Pappy Wrote:  ...
Like it or not government spending in the defense sector does equal jobs.

This is true.

And don't forget all those extra hospital and undertaker jobs that are being created in the Yemen.

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14-09-2016, 02:52 AM
RE: CNN Host Is Concerned Banning Saudi Weapons Sales Hurts Corporate Profits
On the plus side when the kids get tired of getting bombed you can sell more weapons locally to protect against the terrorist threat Yes

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(06-02-2014 03:47 PM)Momsurroundedbyboys Wrote:  And I'm giving myself a conclusion again from all the facepalming.
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