General Dynamics Doesn’t Need Money From Connecticut or Maine

[NOTE: A version of this opinion article was published in The Day newspaper, of New London, Conn.]

General Dynamics is not a poor company.

Farm from it.

Like all of the country’s top defense contractors, its stock is trading at record highs. As of this writing, one share in the Falls Church, Virg.-based company costs more than $226, nearly $55 more than tech giant Apple.

General Dynamics’ current market capitalization, a measure of a company’s value, is $67.2-billion, up $14.6-billion from 2016. To put that into context, Maine’s entire gross domestic product was $59.3-billion in 2016.

On a recent earnings call, CEO Phebe N. Novakovic told analysts the company’s revenue last year exceeded $31.7-billion, outperforming the prior year by $412-million. Cash flow for the year was $3.45-billion.

And things should only get better. Continue reading

Jack Reed, Jim Langevin, and the Defense Industry

[NOTE: This opinion article was published simultaneously on RIFuture.com.]

A couple months back, I was emailed by South County, R.I., activist Jonathan Daly-LaBelle, who wanted to know if I’d seen Rep. Jim Langevin’s press release announcing the rationale behind his recent yes vote on a nearly $700-billion Pentagon budget.

It “is really quite disturbing,” Daly-LaBelle wrote.

No argument from me on this one.

Langevin, Democrat of Rhode Island’s Second Congressional District, has embraced a bizarre and increasingly dangerous stance on “defense” issues in recent years, and that attitude was on full display in his prepared statement.

Among his many points in support of a monstrous Pentagon budget that will go unaudited, as it always does, and undoubtedly lead to waste, was the contention that Congress must make certain “our nation’s warfighters are never sent into a fair fight.”

Tough talk.

But maybe Langevin should consider asking all those innocent civilians in the numerous countries we’ve dropped bombs on since 9/11 what it feels like to be on the receiving end of an “unfair fight.” Continue reading