Remember that time President-elect Donald Trump sent out a couple off-the-cuff tweets that decimated Lockheed Martin and Boeing stocks for a day?
CEOs of both companies went out to Trump’s Mar-a-Lago resort in Palm Beach Wednesday to meet with the soon-to-be POTUS regarding the costs of the Air Force One and F-35 programs he disparaged on Twitter. Eight generals and admirals, and the Pentagon’s top civilian procurer also met with Trump, Time reported.
While Boeing CEO Dennis Muilenburg seemed open to negotiation, telling reporters after the meeting that the company would cut costs to below the initially agreed upon $4 billion price tag, Lockheed Martin CEO Marillyn Hewson was less publicly accommodating, according to The Street.
She released the following statement after the meeting:
"I appreciated the opportunity to discuss the importance of the F-35 program and the progress we've made in bringing the costs down. The F-35 is a critical program to our national security, and I conveyed our continued commitment to delivering an affordable aircraft to our U.S. military and our allies."
Despite Trump's unprecedented behavior, he seemed pleased with the results of the meeting.
Boeing’s stocks rebounded after the initial damage. Lockheed Martin’s are also up to $252.52 per share from $251 in the hours leading up to Trump’s Dec. 12th tweet, according to Business Insider.
Lockheed Martin is a Maryland-based global aerospace and defense company with locations in Denver, Englewood and Littleton.
Multimedia business & healthcare reporter Chloe Aiello can be reached via email at [email protected] or twitter.com/chlobo_ilo.
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