Political Capital

Posts tagged: sequestration

An AIM-120 Advanced Medium Range Air-to-Air Missile manufactured by Raytheon Co., is seen on a Lockheed Martin Corp. F-16D Fighting Falcon aircraft, during the Singapore Airshow in Singapore on Feb. 12, 2014.

Photograph by Brent Lewin/Bloomberg

An AIM-120 Advanced Medium Range Air-to-Air Missile manufactured by Raytheon Co., is seen on a Lockheed Martin Corp. F-16D Fighting Falcon aircraft, during the Singapore Airshow in Singapore on Feb. 12, 2014.

Defense Companies Play Offense in 2014 Elections

Government contractors are putting their money where their mouths are. The top 10 contractors, as compiled by Bloomberg Government, have increased their political action committee spending by 29 percent for the 2014 congressional elections, compared with their donations for the 2012 races....

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Northrop Grumman Corp.'s Longbow Apache helicopter.

Source: Northrop Grumman Corp. via Bloomberg

Northrop Grumman Corp.'s Longbow Apache helicopter.

Defense Contractors Lead $87 Million Lobbying by Top 10 in 2013

Lobbying spending by the 10 biggest U.S. contractors increased by just 2 percent last year over the previous 12 months as they faced a new round of across-the-board spending cuts and a partial government shutdown. The companies, including Northrop Grumman Corp. and...

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A model of a F-16 fighter jet, manufactured by Lockheed Martin Corp., during the 13th Dubai Airshow at Dubai World Central on Nov. 18, 2013.

Photograph by Duncan Chard/Bloomberg

A model of a F-16 fighter jet, manufactured by Lockheed Martin Corp., during the 13th Dubai Airshow at Dubai World Central on Nov. 18, 2013.

Aerospace Industry Decries ‘Excessive Pursuit of Fiscal Austerity”

The defense aerospace industry, which includes contracting giants Lockheed Martin and Northrop Grumman, has been a strong financial supporter of congressional Republicans, allotting 63 percent of their campaign donations this year to the party’s candidates and committees. The Republicans’ insistence...

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Grover Norquist, president of Americans for Tax Reform, speaks during an interview in Washington, D.C.

Photograph by Rich Clement/Bloomberg

Grover Norquist, president of Americans for Tax Reform, speaks during an interview in Washington, D.C.

Norquist: ‘End of the Grand Bargain’

Democrats, chafing at the “choke collar” on their appropriators, are yielding their desire to raise taxes to their thirst for bigger spending, says one of the capital’s leading anti-tax activists. The budget deal at hand — approved overwhelmingly by the...

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United States Naval Academy graduates stand and cheer for the Blue Angels during their graduation ceremony.

Photograph by Chip Somodevilla/Getty Images

United States Naval Academy graduates stand and cheer for the Blue Angels during their graduation ceremony.

Blue Angels Back: Budgetary Boon

So much for that sequestration. The Blue Angels, whose breathtaking public performances of aircraft synchronization may have been pre-empted by mandatory budget cuts in defense spending in recent months,  have been keeping their skills honed. And they have shaken their...

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V-22 Osprey aircraft sit on the deck of the USS Kearsargeat docked at the Norfolk Naval Shipyard in Virginia.

Photograph by Joshua Roberts/Bloomberg

V-22 Osprey aircraft sit on the deck of the USS Kearsargeat docked at the Norfolk Naval Shipyard in Virginia.

Bloomberg by the Numbers: $63 Billion

That’s about how much over two years a budget accord announced yesterday would restore in automatic budget cuts known as sequestration. The agreement came together after negotiations led by Republican Rep. Paul Ryan of Wisconsin and Democratic Sen. Patty Murray...

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An attendee visits the Northrop Grumman Corp. booth during the 28th National Space Symposium in Colorado Springs.

Photograph by Matthew Staver/Bloomberg

An attendee visits the Northrop Grumman Corp. booth during the 28th National Space Symposium in Colorado Springs.

Coalition of Industries and Advocates Fight Sequestration

The defense aerospace industry gave 60 percent of its donations to Republicans during the 2012 elections. The high-tech industry gave 59 percent of its contributions to the Democrats. Now, representatives of both industries are teaming up to push back on a...

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Completed M88 Hercules heavy recovery vehicles wait for delivery at the BAE Systems Plc Land & Armaments facility in York, Pennsylvania.

Photograph by Andrew Harrer/Bloomberg

Completed M88 Hercules heavy recovery vehicles wait for delivery at the BAE Systems Plc Land & Armaments facility in York, Pennsylvania.

‘Planting the Seeds’ in Advance of Defense Industry Lobbying Blitz

In advance of the defense industry’s  two-month lobbying surge on Capitol Hill against budget sequestration, its political action committees have boosted their campaign contributions. The PACs of Bloomberg Government’s 10 biggest prime contractors contributed $8.3 million from January to September, 32 percent...

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A Lockheed Martin Corp. F-35 Lightning outside the company's stand during the Farnborough International Air Show.

Photograph by Chris Ratcliffe/Bloomberg

A Lockheed Martin Corp. F-35 Lightning outside the company's stand during the Farnborough International Air Show.

Was Lockheed Martin a Boy Scout?

The companies most affected by the government shutdown weren’t much affected at all. They simply followed the old Boy Scout motto: “Be prepared.” The biggest U.S. federal contractors reported third-quarter earnings this week that showed little harm to their profits,...

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Reporters wait for U.S. senators to walk by to ask them about the government shut down, on Capitol building on October 14, 2013 in Washington, DC.

Photograph by Andrew Burton/Getty Images

Reporters wait for U.S. senators to walk by to ask them about the government shut down, on Capitol building on October 14, 2013 in Washington, DC.

Shutdown Journal: Day 15

Updated at 9 am though 8:27 pm EDT Often, on days like these — and there have been dozens of them lately — the morning dawns with a breeze of optimism. By mid-afternoon, all that was dashed. By evening, it...

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