Lockheed Martin, the nation’s biggest military contractor, disclosed steps this week to cope with the spread of coronavirus. Chairman & CEO Marillyn Hewson said the company will sustain production of defense items while protecting workers and making its capabilities available to fight the viral plague. It also will rely on virtual technology to continue recruiting and hiring talent. Hewson revealed Lockheed will make $50 million available to small and medium-size suppliers whose businesses may be threatened by the pandemic, and is setting up a disaster relief program for workers, their families and retirees. Because they are already set up to receive federal funding, defense contractors are a relatively efficient way for Washington to channel money into the nation’s faltering economy. I have written a commentary for Forbes here.
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