kimberly-clark are all higher tyson foods higher by 2%. >> another stock trading higher would be lockheed martinhares are negative for the year as we head into 2022, what are the defense spending preerts where does lockheed fit in joining us from the ronald reagan national defense forum is lockheed martin's ceo jim taselet. >> we are here in simi valley, california, i am joined by the chairman of lack lockheed martin >> good to be here. >> i want to start with a macro issue that we have been hearing about throughout industries in north america. the supply chain issues. how are you navigating those right now? what is your outlook into 2022 >> we have been supporting the supply base at lockheed martin the last year and a half by accelerating payments to them so they can stay financially as strong as possible during the pandemic even so over the last summer or so, their supply of raw materials and parts themselves got slowed down that caused their delivers to be late to us, and many other companies, as you have been saying, that create end products, like airplanes, together we had to work through t

ah, that 35, lockheed martin's hanger queen the spider man, 3 of military grade equipment. after 176000000000 dollars and 10 years, the airplane is still no match for a bird. and sure enough, one of these little birds comes far too close for me. down the lifetime use and faster than the i can see it's ingested right into the intake. the croft has been instantly compromised, something soft fluffy and weighing less than an hour. bring the mighty f $35.00 to it's me. al qaeda's new strategy will be to throw bread crumbs onto the deck of a u. s. aircraft carrier. the idea is to get this barely flying piece of former secretary of defense. his words not mine to carry nuclear weapons. entirely new, usable nuclear weapons, and get rid of the old ones. i wonder what they're going to do with them. put them on craigslist. would you like to buy a nuclear warhead? never used. we could use more enemies. the pentagon plans to rebuild all 3 legs of the nuclear triad, simultaneously, intercontinental ballistic missiles, be $21.00 bombers, new summaries, costing over $1.00 trillion dollars.

his latest book, "prophets of war: lockheed martin and the making of the military-industrial complex." welcome back to democracy now! first of all, if you can just respond to the house passage of the largest weapons spending bill in u.s. history since world war ii. >> i think it is an outrage. if you look at what we really need, and the roundup he talked about the preparedness, the world is on fire with the effects of climate change. we have deep problems with racial and economic injustice in this country. we have an insurrection, violence on our democracy. the last thing we need to do is throw more money at the pentagon. it is a huge amount, more than we spent in vietnam, the korean war, the buildup in the 1980's all throughout the cold war. even at the time that biden pulled out troops in afghanistan, the pentagon budget keeps going up and up. nermeen: could respond specifically to the fact the budget is $24 billion mark than what was requested? is it common to have such a huge difference in terms of the amount requested, the amount granted? >> covers off has many for pet projects -

the near infrared camera being used was created at lockheed martin's advanced technology center in paloebb space telescope and pictures taken within the camera will rewrite your children's science books. it will teach us about the evolution of of the universe. it teaches about her on beginnings and how stars and planets form. >> the telescope is scheduled to launch from french guiana right near the equator on christmas eve. >>> this will attract a few stars if you will. another private club coming to san francisco. >> it will be housed in one of the most iconic buildings. as first reported by the business times, core, a members only club with locations in york city and milan, will occupy three floors of the transamerica pyramid. it will include work suites, a restaurant, a gym, and a personalized skin care program. >> is not going to be cheap. according to entrepreneur.com, initial membership fees were reported to be $50,000 back in 2016. >> i bet it is double that by now. >>> when we come back, a bay area bright sp everyone needs health insurance. covered california is making sure more

million miles away from planet earth, and on board by the infrared camera developed and created at lockheed martin's >> it is the primary imaging camera for the james webb space telescope. >> reporter: dr. allison nourse is the director of space science and implementation who has been on the project for 20 years. the mission is to does study the first light in the universe. >> the telescope and pictures taken are going to rewrite your science books. they will teach us about the evolution of the universe, our own beginnings. port kimmitt was assembled and tested extensively in palo alto before it was shipped off to nasa and 2013. >> it spent christmas 2012 in here. >> reporter: some of the testing involved a cryogenic chamber, as it will operate in space at temperatures around -400 degrees. >> if it doesn't work, the whole observatory doesn't work. >> reporter: they will provide a look at space and time that has never been seen before. the telescope is much bigger and stronger than the hubble space telescope. >> we are fascinated about what it will tell us that we did not imagine possible, what quest

you know, it's an oligopoly of the lockheed martin's and the boeing's and below these guys are all one factory making one part number, family owned, not competitive. we've this country's not making, you know, we're replacing half the naval fleet now in maintenance, getting repaired with train, stainless steel. we don't have the earth, we still have sensors. we don't have to have to have components. so it's a mess. this could be a new cuban missile crisis, but i assume the u. s. government will kind of ignore this, like they ignore most things and it will be an extraordinary success of some kind. it was extraordinary this october surprise. what's your call in a new cuban missile? crisis, we do have a sort of a lethargy and an entropy up at the top of our institutions. and there, i mean, the fact that they said that u. s. intelligence had been surprised by this, of course, you know, it, us intelligence has been completely gutted in china as you know, stacy, but came out earlier this year. the united states lost the entire network in china . there was over 30 people executed. they were ha

finland has agreed to by lockheed martin fighter jet. will replace outdated warplanes need to defending the country's border with russia. lockheed beat out boeing and manufacturers from sweden and france. in london the financial district may become a ghost town. major banks have started telling thousands of employees to work from home following new guidelines from the british government. hsbc, j.p. morgan chase comment deutsche bank are among the firms reducing the number of people in the office. in germany olaf scholz promised rapid action to curb the latest coronavirus infections but stopped short on restrictions. he has counting on an aggressive year end vaccination drive. he has not ruled out tough or restrictions over christmas. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. i am ritika gupta. this is bloomberg. alix: to add onto the virus news u.k.'s study is being released showing boosters give 75% protection against omicron. there is a lo

we're live from the reagan presidential library, with the ceo of ulaa joint venture between lockheed marting launch scheduled for this weekend with. the stp 3 mission expected to lift off this sunday thanks for joining us. >> happy to be here. dollar the fact you have the space force mission this weekend and of course we had the first meeting with the biden administration of the space counsel it's become an ever growing topic. how do you think about it, especially given the fact that china has been so hot with its launch streak? >> what a great question it is about now a war-fighting domain, where we have to strive deter aggression in space. >> so, how to we do that >> in a couple of ways first, we make assets that are there more revilsilient, able to absorb an attack and we need to make it less easy for those assets that china and russia are developing and have been for a decade now, to access our satellites on orbit and harm them, so we make their investments obsolete by leapfrogging them with technologies that do these two things >> is the u.s. working fast enough to counter for u.s. and

finland has agreed to buy lockheed martin's s 35 fighter jets. ters will replace warplanes key to defending the country's border with russia. lockheed b. bowing and manufacturers front -- lockheed beat out boeing and manufacturers from sweden and france. broadcom said it would buy back $10 billion worth of stocks -- a shortage of cream cheese in the u.s. hasn't bagel shops and bakeries rambling for supplies. it is being blamed on a cyberattack on the biggest cheese manufacturer in the country. schreiber foods in wisconsin was closed for days in october after hackers compromised distribution centers. global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in more than 120 countries. i am ritika gupta. this is bloomberg. ♪ >> record demand for durable goods and retail sales right now. if the fed wants to raise rates, they could bring the inflation picture back into line by helping to pull off the demand side of the ration. it is not just apply causing this problem, it is supply and record

finland agreed to buy lockheed martin fighter jets to replace its aging fleet of combat planes. billion deal for new f-35 a fighters is the finnish military's largest purchase ever. former israeli prime minister benjamin netanyahu defends congratulated president biden on his victory, axios reports president trump was upset with him after making a video message for the new president. benjamin netanyahu said it was important given the prominence of the u.s.-israeli alliance. some of the other stories beyond our borders tonight, we'll be right back. ♪ ♪ oh, it's just a cold. if you have high blood pressure, a cold is not just a cold. unlike other cold medicines, coricidin provides powerful cold relief without raising your blood pressure be there for life's best moments with coricidin. now in sugar free liquid. (vo) with verizon business unlimited plans, you can get 5g, truly unlimited data, and more hotspot data. because every business deserves better. and with plans as low as $30, better costs less than you think. visit us in store or book an appointment to save time and money. ♪

market takes off so what i've been doing, i've been initiated northrop grumman, added to lockheed lockheed martin, added conoco phillips, initiated apache, why because the energy space does so well, apache you can break this down by stock, apache actually over 15 years gained 3% in the last week of the year so i'm playing the odds and i'm in apache. liz: john, apache, of course, is a refiner. we know the refiners have showed real strength but you've gotta tell me what you're doing ahead of the end of the year and whether you start to see a little slowing down when it comes to the bull herd, at least in the first weeks of january, or a continued ramp up here. >> liz i believe in santa and i believe in the santa claus rally , and the reason i believe in it so much is human nature, despite what scrooge and the grinch will tell you human nature doesn't change. in the last week everyone will scramble to sell their losses, everyone, and you have to look at the things that haven't made money. there's been bear markets everywhere if you look. biotech has been going down since february. chinese internet s

the near-infrared camera being used was created at lockheed martin's advanced technology center in palopace telescope and pictures taken within your camera are going to rewrite your kids science books. they're going to teach us about the evolution of the universe. they're going to teach us about our own beginnings and how stars and planets form. >> the telescope is scheduled to launch from french guiana on christmas eve. >>> we have new video out of richmond, where high school students built a popsicle stick bridge that can withstand hundreds of pounds. check it out. students at leadership public schools built different types of bridges with popsicle sticks and glue. the winning bridge weighed just over one pound but it could initially withstand 350 pounds. the teacher, mr. grossman, wanted to take that even further, so a student sat on a platform suspended by the bridge as they kept adding 10 pound bags. well, they got up to 497 pounds. hoops. when the bridge finally snapped. mr. grossman says in five years, he has never seen a bridge like this hold this much weight. >> kids have their

software driven future so, don't miss some of the next interviews we have we have the c oh of lockheed martin and chairman jim taiclet coming up on "power lunch" at 2:00 p.m. eastern, david >> morgan, have a great weekend, as well. great stuff from out there thank you. >>> that's going to do it for us on "squawk on the street." with the nasdaq down almost 2%, let's send it over to "techcheck." >>> good friday morning. welcome to "techcheck" i'm carl quint quintanilla. stocks are selling off again the nasdaq was down a couple percent a moment ago the high-growth semis versus high growth software the ftc twisting nvidia's arm and where should investors put their money to work. plus on that theme, two big movers today the ceos of marvell and docusign heading in different directions after reporting results. >>> why one wall street firm sees 80% upside from here. the stock is now reversing some early gains. julia. >>> and amid today's selloff in the nasdaq, two sectors stick out. semis versus software. the soxx outpacing and two of the biggest movers in the past 24 hours docusigns and marvell. the

we've got to make companies like lockheed martin and big defense companies more secure.hose technologies, i believe, are out there. i know they are out there. we are not in any administration -- this administration or the last administration -- come together to form a central manhattan like project that bring the best of the private sector and public sector together to protect ourselves. until we do that and organize ourselves, we are going to be chasing in the context here -- we want to make sure that we have that same capability as well. >> thanks. i think we have time for one more question. general punaro, i want to ask you, you lay out in the book and we've talked here today about a lot of the challenges that the pentagon and the overall system around defense spending and technology procurement have. what would you want people to know about what is going right? well the pentagon is doing right, maybe that people don't know about? >> i would say and relate the point that when someone along with young jones and others who have been privileged to be in uniform for 35 ye

meaning a growing top line and boeing and lockheed martin all higher today, all in the green over they year of trading sir richard branson will join us as he looks to take another company public via spac. that's right after this break. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq at vanguard, you're more than just an investor, you're an owner with access to financial advice, tools and a personalized plan that helps you build a future for those you love. vanguard. become an owner. look, serena williams... matrix... serena... matrix... serena... matrix... ♪ get your tv together with the best of live and on demand. introducing directv stream. so, you want evs, you have come to the right place. is that tom brady? yeah. he comes in to recharge, get software updates. you know. let's go! >>> welcome back to "squack on the street." another day, anothe

in the case of the air force, the f-35, lockheed martin makes, remains the cornerstone of the fightern fighter aircraft as well. >> seems like full circle in terms of the military going to silicon valley silicon valley kind of grew out of the defense business. >> semiconductors were originally funded and seeded in large part by the government in the midst of the cold war in silicon valley to your point that was a relationship that started together and has since drifted apart. there is a lot of red tape it is hard to work with the d.o.d. officials in the d.o.d. will say it themselves. it was the topic of a panel i moderated at the reagan forum this weekend that included general brown, but also folks like vc investor -- >> the clearances you need to work on this material limits your universe of vendors in a big way. >> it does. >> after the break, crude oil higher this morning after falling for six straight weeks we'll take you live to houston and the world petroleum congress. as i observe investors balance risk and reward, i see one element securing portfolios, time after time. gold. y

our bipartisan investigation into the joint strikeforce fighter helped push lockheed martin to return $70 million to the department of defense, about 35 programs, to compensate for defective spare parts. and waste fraud and abuse, the committee helped create the pandemic and responds accountability. the general overseeing the trillions of dollars in response to the pandemic, roughly $17 for every dollar spent. we have not shied away from constructive oversight of the biden administration. in the last two weeks, we conducted oversight of the treatment of haitian asylum-seekers, the classified briefing, a request of the minority, on afghanistan, and sent a bipartisan letter on the fbi's tailing of ransomware attack's. our oversight stands in strong contrast to republicans who turned a blind eye to four years of outrageous abuses by the former president. with that, i would like to get back to the critical importance of today's hearing. first i would like to introduce our witnesses. today, we are privileged to hear from the administrator of the federal emergency management agency, deanne

a bipartisan investigation into the f-35 joint strikeforce helped push lockheed martin to return 70 million dollars to the department of defense is f-35 program to compensate for defective spare parts. again, waste fraud and abuse, this committee helped create the pandemic response accountability committee. and the committee of inspector general overseeing trillions of dollars in response of the pandemic, save roughly 17 dollars for every dollar spent. and we have not shied away from constructive oversight of the biden administration. in the last two weeks we have conducted oversight on the treatment of patients and asylum seekers, classified briefing that was the request of -- on afghanistan. and sent a bipartisan letter on the fbi's handling of ransomware attacks. oversight stands in strong contrast to republicans who turned a blind eye to a four years of outrageous abuses by the former president. with that, i'd like to get back to the critical importance of today's hearing. eari'd like to introduce our witnesses. today we are privileged to hear from the administrator of the federal emerg

we have top five defense industry companies, raytheon, lockheed martin, boeing, general dynamics, northropd they have pretty much carved out the ultimate dish -- niche for themselves. they are getting far the majority of federal contracts. so you have very powerful companies with serious interests in seeing everything go their way every year in the budget, and what they do is they hire away all of our generals and top officials and admirals from the pentagon every year. 280 top officials left pentagon jobs for lobbying, top consulting jobs in those five companies. host: do ethics rules applied to the officer class who leave the military, officer and noncommissioned -- do ethics rules applied and going to defense contractors? guest: there definitely are ethics rules cured whether they are being followed for a that is a different question. there has been a lot of work on this come a lot of activism on the hill, trying to harden some of these rules in terms of the cooling-off period. i think the cooling-off period -- and please forgive me if i do not have it right -- is one year. or is five y

after about a week, i would go, oh, that's the representative from lockheed martin, from general dynamicsevable waste at the pentagon. and it's these so-called small government conservatives that are at the forefront of that since the day eisenhauer left office. >> well, absolutely. and of course in terms of, you know, government, oh, i don't like government, the classic thing over the last ten years is don't let government take my medicare from me. people don't understand, or they do understand in the case of your lobbyists, how much government does for them. ♪ come down to the city ♪ in an office we know as "oval," a new-generation president faced down an imminent threat of nuclear war. on a bridge in selma, alabama, the preacher of his time marched us straight to passing voting rights for every american. at a gate in west berlin, a late-generation american president demanded an enemy superpower tear down a wall and liberate a continent. american generations answering the call of their time with american ideals. freedom. liberty. justice. for today's generation of leaders, the call has

we have top five defense industry companies, raytheon, lockheed martin, boeing, general dynamics, northropan, and they have pretty much carved out the ultimate dish -- niche for themselves. they are getting far the majority of federal contracts. so you have very powerful companies with serious interests in seeing everything go their way every year in the budget, and what they do is they hire away all of our generals and top officials and admirals from the pentagon every year. 280 top officials left pentagon jobs for lobbying, top consulting jobs in those five companies. host: do ethics rules applied to the officer class who leave the military, officer and noncommissioned -- do ethics rules applied and going to defense contractors? guest: there definitely are ethics rules cured whether they are being followed for a that is a different question. there has been a lot of work on this come a lot of activism on the hill, trying to harden some of these rules in terms of the cooling-off period. i think the cooling-off period -- and please forgive me if i do not have it right -- is one year. or is