Posted on 11/01/2012 8:43:48 AM PDT by GilGil
President Obama's administration has asked Lockheed Martin to delay its announcement of the layoff of 123,000 employees to make the unemployment numbers look much better. Lockheed Martin is one of several defense contractors ready to lay off tens of thousands and hundreds of thousands of people after the election. These numbers may indeed rocket the unemployment figures past 8%.
The layoff notice announcement came by way of Yahoo.com on October 1, 2012 and was quickly buried apparently to fool the voters into believing the economy is much better than represented.
"It's difficult to understate the importance of Lockheed Martin's latest announcement on the race for the White House: the defense contractor said on Monday it will not be issuing employee layoff notices to 123,000 workers on Nov. 2-just four days before the presidential election. Amidst all of the super PACs and campaign ads, the threat of telling a sizable chunk of voters in key areas of the country that they could lose their jobs if the election didn't go Lockheed's way was one of the most potent examples of corporate electioneering. But the layoff threat was largely unreported outside of Beltway trade publications. Here's why today's announcement matters:" More...
Basically the bottom may fall out of the economy after November 6, 2012 with hundreds of thousands to be laid off. This would be devastating. Defense contractors agreed to delay the announcements in a sweetheart deal where the White House will pick up any costs associated with these layoffs.
"Lockheed, one of the biggest employers in the key battleground state of Virginia, previously warned it would have to issue notices to employees, required by law, due to looming defense cuts set to begin to take effect after Jan. 2 because of the failure of the Joint Select Committee on Deficit Reduction - the so-called Super-committee, which was created to find a way to cut $1.5 trillion from the federal deficit over the next decade." More
This move to delay the announcements of these massive layoffs and cover the costs was totally illegal according to Senator Lindsey Graham. And remember, if you watched the third presidential debates President Obama assured the 70 or so million viewers that these cuts in defense "would not happen."
"Sen. Lindsey Graham (R-S.C.) says that he will do anything he can to block the Obama administration from reimbursing defense contractors for severance costs if the firms don't send layoff notices to employees. The Obama administration issued guidance Friday that said defense firms' costs would be covered if they have to layoff workers due to canceled contracts under the across-the-board cuts set to take effect Jan. 2. The layoff notices have become a politically charged issue because they could have come just four days ahead of the election because of a 60-day notice required by federal law for mass layoffs." More...
Article shared using the Free Republish tool on Tea Party Tribune.
Does the article source yahoo.com?
Trying to get a job when you are in your sixties sucks.
I would imagine it would. Are you close to retirement? Many people are working past 65 which is a big problem for younger folks. If every person would retire 65 and older, we would not have any unemployment problems. Time to pack it in folks and enjoy what is left of your lives. Times goes VERY fast and working until your 75 or 80 will not leave enough time to enjoy a decent retirement. With your Air Guard retirement, Social Security and 401K, you should be perfectly ready financially for retirement. Good luck with the job search IF you have to find another job.
Sounds like the CEO took a very strong and personal shot at Obama. I seriously doubt that Obama can get 20% of the vote from the employees of LMT.
I think you set a record.
When all else fails, stop hitting the post button.
I imagine what one considers a decent retirement varies a lot.
I know. I know this. I was not thinking. when the comment is long to post you have to leave it alone no matter how long it takes to post. Better to go do something else.
Here in Arizona 10 years ago the average age of employees at Home Depot was late twenties. Now it is late fifties.
What do you mean “may have”? I am no economic genius but I can add two and two and two and two and come up with eight and it is plain to see that Obama has eight up our economic lunch already. It is true that we had problems when he went in but he has gotten real results since then...ALL BAD!
Apparently Obama promised to pay all the costs associated with the layoffs if Lockheed delayed its announcements. Somehow i think Lockheed will get screwed.
I’ll second that.
I guess, in the same way as you might either pull out your hair, or cut 1/10th of it off. If you think that is the same thing, then yes.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.