Wednesday, October 31, 2007
War Industry Regains Command
Not to stoke any of the inane conspiracy theories running wild on the Internet, but if Osama bin Laden weren't on the payroll of Lockheed-Martin or some other large defense contractor, then he deserves to have been. What a boondoggle 9-11 has been for the merchants of war, who this week announced yet another quarter of whopping profits made possible by George W. Bush's pretending to fight terrorism by throwing money at outdated Cold War-style weapons systems.
Lockheed-Martin, the nation's top weapons manufacturer, reaped a 22 percent increase in profits, while rivals for the defense buck, Northrop Grumman and General Dynamics, increased profits by 62 percent and 22 percent, respectively. Boeing's profits jumped 61 percent, spiked this quarter by its commercial division. But Boeing's military division, like the others, has been doing very well indeed since the terrorist attacks.