they also happen to be assembled at a lockheed martin facility. also, the bill -- in the bill, the appropriators have funding or two. communitieshat the in wisconsin and alabama >> what has been the view on the associations process so far? >> this year, probably a bit easier. back i believe it was in march. really fluffed up the funding for the pentagon. mores allowed them to get of what they wanted. as the debate is underway and there are over 130 amendments , what are some of the key ?ssues you're looking for >> they have in a minute that would decrease the overall funding. it is probably not going anywhere. the amendment i'm interested in american -- an arizona republican to be winning the a-10 warthog. cinnamon wants to fleetorate the existing and that is something like $65 million over what the pentagon had requested. she is looking to be winning the air force and that will be a debate. >> that will be them accredit priorities. democrats target defense bills for immigration. tell us about that. >> there are more than a dozen in the midst that

so, for instance, if a russian company were going to attempt to purchase lockheed martin, a big defense contractor, a big supplier of very important, sensitive, and advanced military equipment to our armed services, armed forces, on such a case cfius would take, i think, a pretty quick review of that and recommend a no, and the president would almost certainly block such a transaction. so we understand there is a sensible need for this committee to exist and to do its work. so let's get back to the underlying legislation before us. under exist law, under current law, the range of transactions that cfius can review for this purpose of determining whether it's a threat to our national security is pretty narrow. it's fairly narrow. and i think there are legitimate concerns that it's too narrow, especially considering aggressive and even hostile acts that are taken under the auspices of the chinese government to acquire sensitive american technology. so as i say, there's this delegation of authority to broaden that, and i would argue that this rule making, the decisions that cfius will make

policies like this exist in other companies and you think back to 2012 and lockheed martin unfold withir expected ceo at the time. how long have these policies existed? given the fact that we are in a day in age where it seems ceos -- more is expected of them not just from a business standpoint but social standpoint how does that -- >> lockheed martin they wound up winning the lottery with the ceo who took over after this guy stumbled, the intended successor. they did quite well with it. it's a shame, they still paid that exiting ceo candidate $3.5 million severance. we wonder what will happen here. that was clearly a misconduct issue. that was 2012. we had david petraeus, of course, in government, dunn in best buy all around that same period going back even earlier, i'm sure bill will remember crusty, honorable great guy after he celebrated his 50th wedding anniversary, he was having an affair with the director of the board. again, these were all consensual, but that was a mistake. that was at boeing that's where we started to see this enforced where consensual relationships matter we

s of lockheed martin and raytheon, two of the top four u.s. defense contractors who were each paid paid -- contractors were each paid over $20 million in total compensation. moreover, more than 90% of the revenues from those cpanies came from defense spending. so they get the bulk of their money that comes from the taxpayers of the united states, and then they pay their c.e.o.'s exorbitant compensation packages. i think the american people might like to know why a defense contractor can pay its c.e.o. 100 times more than the secretary of defense whose salary is capped at $205,000. in my mind, that is a reasonable question. how does the c.e.o. of a defense contractor get 100 times more salary than the secretary of defense? and that is why, mr. president, i have filed an amendment to prohibit defense contractor c.e.o.'s from making more money than the secretary of defense. moreover, mr. president, as the g.a.o. has told us, there assive defense department's acquisition budget that we have got to address. according to the g.a.o., the pentagon's $

berger package says the number one cause of global warming emissions on the side of the free lockheed martin cap that you get at the ballpark doesn't say we sell birder around the world and and your lambskin condom doesn't say made out of all very surprised sheep all right. he had no idea this was going to be his future at the end of the day nestle is winning ad capitalism you buy every resource you can for as little as possible they they often steal millions of gallons from areas for a few hundred dollars a year you. find workers that are as cheap as possible sometimes slaves then you sell those resources back to the people at a greatly exaggerated price and you buy up all your competitors so that you become too powerful to stop we have to boycott nestle as well as all these brands that they own the rights and all of those brands as well that they and all of those brands that. they are this was the one over there and what. pockets of progress do you think if there's one thing pure in this world is hot pockets. and lead cuisine if i boycott lean cuisine where will i get my guy real from i'll

bush your big drink companies that use a lot of aluminum cans the coursers boeing and there's lockheed martin any company that uses a lot of steel and particularly imported steel could be negative negatively affected by the tariff if the tariffs take place absolutely and what about you know we talk about the winners what are some of the the i mean the losers if the steel if it comes in and those companies are it have a higher price on steel or aluminum it's definitely going to hit them but are there other losers out there others that might we might not be thinking of that might take a hit in the future. well you got to introduce the consumer because you understand that in general motors and ford if they get can are hit with terrorist for the because they're huge exporters of the automobile so if these countries got bank say well you know we'll just thank you one good turn deserves another so we're going to put these tires on your vehicle that's going to really hurt ford and general motors and have wars in the big dream companies that use a lot of aluminum in order to to package their products

s of lockheed martin and raytheon, two of the top four u.s. defense contractors, were each paid over $20 million in total compensation. moreover, more than 90% of the revenue from those companies came from defense spending. in other words, we have a situation where companies that get almost all of their revenue from defense contracting are paying their c.e.o.'s 100 times more than the secretary of defense gets whose salary is capped at $205,000 a year. that, to me, makes no sense at all, and that is why, madam president, i have filed an amendment to prohibit defense contractor c.e.o.'s from making more money than the secretary of defense. moreover, madam president, as the g.a.o. has told us, there are massive cost overruns in the defense department's acquisition budget that must be addressed. according to the g.a.o., the pentagon's $1.66 trillion acquisition portfolio currently suffers from more than 5 -- $537 million in cost overruns with much of the cost growth taking place after production. in other words, defense contractors say we're goin

perhaps not surprising to see some of the biggest makers of those systems like raytheon and lockheed martineading to the downside today keep in mind this sector has had a big run still up 8% this year, despite a recent earnings season sell-off that said, from buckingham research, noting that the exports globally last year south korea and japan accounted for less than 10% of that total. factor in other bad actors, china, russia, iran, et cetera the asia-pacific region may not represent an area of growth, plenty of other potential drivers of military hardwaresalf other analysts i've spoken with don't see a lot of positive catalysts for defense stocks, richly valued, i note. he does say early plans for fiscal year 2020 defense budget will be key come later this summer he expects double-digit growth in defense spending outlets. i would also note that the national defense authorization act of 2019 is kicking around congress, the senate specifically and going back to this discussion of china on the heels of a hack of a navy contractor just last week that we reported by china, with everything that

defense stocks falling at this hour including the names of raytheon, aerojet, general dynamics, lockheed martin, the usual suspects moving lower. 1 1/2 in the case of cradle's defense, down 3%. the other movers on wall street, twitter hitting a three-year high after analysts at jpmorgan boosted their price target on the stock to $560 from 39 cents per share. that can't be right. there's an extra o in there. the highest price target on twitter, the stock up 4.5%. investors celebrating a brand-new member of the s&p 500. twitter the best performer on the index. good day for twitter. >>> jpmorgan giving a boost to weight watchers, after the bank initiated the stock with a $500 price target saying it'se to s watchingrom the sidelines. weight watchers up 4.5%. >>> and amazon sends a shiver down retailers' spines, in the case of sears, jumping at this hour after the retailer is expanding partnership with amazon. if you can't beat them, join them, to 118 auto centers. people can buy tires online and take them to centers to install them. >>> t-minus one hour away on a decision that could change the face

my stock is lockheed martin. >> this whole group is going down because it's bapeace is ba breaking out in the korean peninsula. give me a break. i think lockheed is inexpensive too but i see when stocks are down trends give them some room. wait a day or two and then let it drop 5, 6, 7 period points and then you'll be fine. david. >> booyah. in pittsburgh pa, home of the pittsburgh steelers, six time champions. jim. >> yeah. >> question. >> yeah. >> i'm investing for my grandchildren. i bought some docusign. >> that's is such a good company. zora these companies are doing -- they're doing incredibly well. docusign is at the forefront of the subscribed economy let's go to ron in california, ron. >> booyah, jim. >> booyah. >> how are you doing >> i'm good. long day what's going on. >> oh, i was hoping to hear something about one of my stocks, check resources. >> mineral stocks remain strong. at this point in the cycle you actually are going to keep some strength in tact it can break down to the upside. i'm taking another one let's go to clay in north carolina, clay. >> mdgl. >> this thin

i appreciate that at last week's ceremony with lockheed martin on celebrating the partnership that the state department did not send a representative to the ceremony. it is part of sending a clear message to turkey about what our views are, but i know there's some confusion about whether planes have been delivered. it's my understanding dod officials have said we have begun delivery of planes. it's my understanding that's not the case. can you confirm whether any planes have been delivered to turkey? >> as you know, in this program u.s. maintains custody of aircraft until their transferred which normally occurs after a lengthyingrocess. that's helpful because it gives us time to continue the messaging. i think were in the training phase. we have watched developments on the hill and know what's being considered. we believe that we have existing legal authorities to allow us to withhold transfers. given that, we believe we continue to have the time and ability to ensure turkey does not move forward before having to take a decision on f35. were being cleared are messaging that there will

i appreciate that at last week's ceremony, with lockheed martin, celebrating the partnership with turkey on the f 35, that the state department did not send a representative to the ceremony. i think that's a part of trying to send a clear message to turkey about what our views are. but i do know there is some confusion about whether planes have actually been delivered. it's lander standing they have not yet delivered planes. can you confirm whether or not any planes have actually been a delivery? >> in my view this is helpful in the circumstances because this gives us time to continue the messaging. my understanding is we are in the training phase. we have watch developments on the hill and we know what's being considered on f 35's. we believe we have existing authorities that would allow us to withhold certain things including with national security concerns. we continue to have the ability to determine they haven't moved forward on s 400 before we make a decision on f 35. we are clear with our messaging with the turks that there will be consequences. beyond that i would request the abi

raytheon, northrop grumman, lockheed martin, all on the downside this morning.ctually helping push the overall market to the downside. different story for lands' end, clothing retailer. les down 20% in the last quarter but they loss less money than expected to lose. they're not doing too badly. have come back to just about dead break even. that is where we are, down just a fraction of a point. 25,320. >>> democrats, they're going right after president trump after the north korea summit. here is nancy pelosi. quote, in his haste to reach an agreement, president trump elevated north korea to the level of the united states while preserving the regime's status quo. coauthor of the book, let trump be trump, and citizens united president david bossie is with us now. why don't i clear the stage, let you go right at what nancy pelosi had to say. go. >> look, she is once again delusional. she continues to hate this president more than she loves our country. she has a complete disregard for american history. she said and others like her said the exact same thing about ron

executives here lockheed martin and others here at the white house discussing the policy. during the meeting president trump calls for a six-branch of the military governing out of space. >> i am here by directing the department of defense and pentagon to immediately begin the process necessary to establish a space force as the s six-range of the armed forces. we are going to have the air force and we'll have the space force. separate but equal >> it is going to be something >> also, in that meeting the president defended the administration controversial immigration policy the department of justice of zero tolerance of separation the images have been dividing members of the administration. and earned criticisms from the first lady and melania trump and laura bush, here is what the president said about that policy today. >> the united states will not be a migrant camp and it will not be a refugee holding facility, it won't be. >> you look at what's happening in europe and you look at what's happening in other places, we can't allow that to happen to the united states, not o

[laughter] marilyn huson who has done a fantastic job at lockheed martin. marilyn. marilyn. have done. [applause] what do you think of that merger for the space launch? what do you think? they're sitting together. oh, boein [laughter] no wonder we don't get the pricing we want, huh? dennis mullen berger, great guy, head of boeing. you have done a great job on all fronts, commercial, military, both of you. what a job you have both done. thank you. stay apart, stay apart. don't get together. stay apart. [applause]just a great group ofr executives here from the top companies and it is patriots like you that are the reason why america was fir flight, first to the moon and why america will always be first in space. you know before i got here, wasn't looking so good. [applause] before we came in i will tell you they didn't have such big plans for space. now they have plans. it is great, not only in terms of jobs and everything else, it is great for the psyche of our country. this morning it came out that small business is the most optimistic it has ever been in the history of our

up with trader telling is buying on drip of lockheed martin and raytheon and northrop grumman saying, northrop grumman was favorite of best balance sheet. general dynamics not picking that one up. we see this group in particular pulling back some. back to you, neil. neil: thank you, nicole. thank you very much. as nicole was talking rifling through some issues whether a trade deal is a hand or close to one, i'm sorry, military deal, peace deal, whatever you want to call it, security deal with the north koreans, if all sudden now you're talking about cutting back on joint military exercises with the south koreans, notingly defense and related issues go down. uncanny how that goes. market watchers keith fitz-gerald and david johnson all that. what do you think the markets are telling us post this initial talks stage? >> essentially it is reiterating the fact something like north korea and nuclear conflict is what we call a tail risk. it is highly unlikely yet severe type situation and markets can't respond to it. they don't drop when they worry about nuclear war, how do you price someth

so, for instance, if a russian company were going to attempt to purchase lockheed martin, a big defense contractor, a big supplier of very important, sensitive, and advanced military equipment to our armed services, armed fs,n such a case cfius would take, i think, a pretty quick review of that and recommend a no, and the president would almost certainly block such a transaction. so we understand there is a sensible need for this committee to exist and to do its work. so let's get back to the underlying legislation before us. under exist law, under current law, the range of transactions that cfius can review for this purpose of determining whether it's a threat to our national security is pretty narrow. it's fairly narrow. and i think there are legitimate concerns that it's too narrow, especially considering aggressive and even hostile acts that are taken under the auspices of the chinese government to acquire sensitive american technology. so as i say, there's this delegation of authority to broaden that, and i would argue that this rule making, the decisions that cfius will make as it

a joint venture between boeing and lockheed-martin, u-l-a is the only other company eligible to launchvernment in 20-16 for the right to bid on military contracts. its falcon heavy is the most powerful rocket in operation. ( darya ) coming up after the break... madison bumgraner looks to get back on track against the san diego padres. ( darya ) happening now... a warning if you are planing on heading to santa cruz this weekend. the sheriff's office has issued a shark warning for the beach below the seascape resort. this is a picture posting a warning sign. they say several pele saw a 10 foot shark swimming about 30 feet from the shore. deputies e asking people to be extra careful if they are in that weekend. (james)(darya) welcome back. lets get a check of weather and traffic... a robust warming trend is forecast from friday and late saturday as high pressure builds in the bay area. highs are expected to climb into the 70s and 80s near the ocean and bays and from the 90s to 105 inland. this will lead to hot conditions on saturday with moderate to locally high heat risks across mainly i

we are very diverse from medical, logistics, aviation, lockheed martin and bell helicopter are in fort. facebook's largest data center. we are very diverse. fort worth is going to continue to grow. our biggest challenge is .aintaining a feel it is on the right path. >> "washington journal" continues. host: open phones until 9:30 eastern. we will have a brief session. for republicans. democrats, 202-748-8000. , 202-748-8002. job numbers are out. unemployment rate falling to 222,000ployers adding -- 223,000 jobs in may. let's hear from connecticut. tom. good morning. republican. caller: good morning. i enjoyed the last presentation but emily did not answer the question of what her college -- is.is feared host: i should -- her college degree is in journalism and political science from the state university of new york. she has worked at a number of media organizations. it.er: i appreciate it was a good presentation. host: lisa in virginia, democrat line. caller: good morning. say, the guest from the new republic mentioned that the government is responsible , ora lot of the cleanup whatever

lockheed martin voiced support and noted they had been involved in space activities for a long time thesual suspects would benefit from this, lockheed, boeing, ratheon. >> the age-old arguments re-emerged yesterday we don't have clean water in michigan why are we going to space? that's been around since the beginning. if it was purely to satisfy sort of the yearning to know, is it still worth it mankind has to move forward, but when you put it in terms of gps, warfare, not lose ground -- when you put it that way, it doubles the rationale for pushing back on those arguments we can't solve everything here before we try to do that we have to do both >> i think it's all interconnected also when you talk about something like tariffs and potential trade wars with china, when you talk about high-tech, jex it comes back to capability. there was a report about the hacking of a navy contractor by china for some trade secrets it's a key part of that conversation that doesn't get talked about very much >> all right there will always be people trying to do bad things and take over james bond will ne

classified satellite for the very first time, the air force confirming a joint venture of boeing and lockheed marting the decision spacex pleased to offer american taxpayer cost effective reliable services for vital national security space missions that is is expected to headed skyward summer or fall 2020, new hard rock hotel casino atlantic city new jersey a 30 foot tall guitar but with a misspelled word the world rhythm misspelled put extra letter "e", officials saying typo was corrected by removing the extra letter hard rock hotel casino to open next thursday i will be heading there let you know if they corrected that. >> cool, okay. good we will see from you there then susan thank you futures upward we are expecting a good rally start of trading as you see up 130 points, this is high of the morning right here -- stephanie pomboy says a summer selloff could be on horizon she is on her way here. >> avocado toast could come to chipotle near you back in a moment. ♪ ♪ hi.i just wanted to tell you that chevy won a j.d.power dependability award for its midsize car-the chevy malibu. i forgot. chevy also

you're looking for reaction, perhaps we see a drawdown in some of the military markets and the lockheed martince than some of those names might move a little bit lower. i think it's a net positive, especially on the humanitarian front and i agree this also brings china a little closer to us and helps relationships with everybody here. >> i was wondering in the china example, if these talks are deemed successful they both go home looking better for their efforts, that might lighten the trade penalties or whatever were looking for china down the road. what you think of that. >> think you're absolutely right because the trade talks and these toxins singapore are interlinked. china was behind the spread this is not a two-way summit. you know china is also the third party in this and if there's some sort of agreement , if somehow there ie sort of something they can hash out and make trump look good will there be some alleviation when it comes to tough trade talks. neil: we read a lot into body chemistry and signals and vibes and it seems to be very positive with these two. when you look at these an

capabilities and i think longer term, you know, that's pretty beneficial for companies like raytheon an lockheed martin lockheed, reiaytheon, all relatively unchanged in terms of the timeline of what may happen and how it could kbangt tho impact those stocks, what are you looking for? >> i think as you talked about this morning, there's a long way to go from here to a verified denuclearization i think until there are more steps to getting there, i'm not sure how much the market is going to give to this signing. >> in terms of downside, though, you look at those particular stocks you want to separate them out a little bit for us? >> i think the easy way to differentiate, raytheon has by far the most exposure to international foreign military sales. they're really focused on missile defense and missiles so i think they are the best way to play the kind of heightened threat environment inrnationally. lockheed would be a second then air environment which is a smaller cap name would probably be a third >> fred was telling -- what was the news you just saw cross? >> this is the interesting thing. reuters is

they also happen to be assembled at a lockheed martin facility in her district. builds 12 ships for the navy compared the presence request of 10. the appropriators have approved funding for two combat ships as one that the president requested. shipbuilders in wisconsin and alabama will be busy. they will probably end up in the final bill. what spin the chairs view of the appropriations process so far and her work with her ranking member? patrick: this year is a little easier because of budget agreemk in the spring. over 135 amendments -- >> what are some of the key issues you are looking for that might come up under the second rule? patrick: a couple of amendments will get the ball rolling. there's an amendment that would billion.funding by $5 it's probably not going anywhere but that gets the ball going. the amendment i'm particularly anerested in watching is arizona republican and two of her colleagues. it's the a 10 warthog which is an aircraft in the air force. appropriate $163 to the current a-10 fleet. it's over what the pentagon requested. that funding lev

they also are assembled at lockheed martin place in her district. and also the bill approves -- compared to the president's request for 10. in this bill the appropriators ha approved funding for combat ships as opposed to the one that the president requests. and it appears that the ship building communities will continue to be busy because the senate appropriations subcommittee just this morning just past their companion bill up to the full appropriations committee also including dish so it looks like those will probably end up into the final bill. you pointed out that kay granger , what is been her view of the appropriations process so far for 2019 and her work with peter visclosky? >> this year it is easier because the budget agreement that was past the spring, -- i believe it was in march the president signed an agreement that helped the funding for the pentagon. so it allowed the appropriators to get more what they wanted and it showed when the house appropriations committee passed that bill out of the full committee. >> as the debate gets under

ey happened to be at assembled at a lockheed-martin facility in her district but she's really looking for cost savings and also the bill approves 12 ships for the navy compared to the presidents request of 10. nmap will the appropriators have approved funding for two combat ships as opposed to the one that the president requested so it appears the ship the link communities in wisconsin and alabama will continue to be busy because the senate appropriations defense subcommittee this morning passed their companion bill up to the full appropriations committee also including combat ships so in effect those will probably end up to be the final bill. >> host: you point out cade granger to chair the of the subcommittee on defense. what has been her view of the appropriations process so far for 2019 and her work with her ranking member? >> guest: i guess it's a little bit easier because of that budget passed back in the spring back i believe in march but congress passed and the president signed a two-year budget agreement for 2019 a plus.the funding for the pentagon. it's rarely allowed approp