Lockheed CEO says 100% of progress payment increases should flow down to subcontractors

By Tony Bertuca / December 3, 2022 at 2:33 PM
(Editor's note: This story and headline have been updated with additional information to clarify the focus on increased progress payment rates, not all progress payments.) SIMI VALLEY, CA -- Lockheed Martin President and CEO James Taiclet said today that large prime contractors, like his company, should commit to flowing 100% of all progress payment increases down to smaller subcontractors to strengthen the U.S. defense industrial base. Taiclet, speaking on a panel here at the Reagan National Defense Forum, said...

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