NEW YORK: When Hell freezes over -- Raytheon
"When you get right down to it," the company spokesman continued, "there's just no excuse for our not winning this round. But knowing that we could have won and should have won is just going to encourage us to try harder.
"To L-3, its partners at Boeing
If you're reading the above press release for the first time, there's good reason for that: It never existed. Raytheon never wrote it -- I did. Why? Well, to illustrate a point. When I read the story of the C-27J's award to L-3 yesterday, it got me to thinking: Why is it that when a company has good news (or at Lockheed
I mean, news of the C-27J award engendered not one but two crowing press releases from the victorious L-3 yesterday. If you relied upon Raytheon to tell you what was important at Raytheon, you'd think the only thing of note yesterday was the firm's win of a $6.5 million contract to research silicon chips. And the $6 billion contract to build military transport aircraft? Pshaw! Peanuts.
Call me naive if you will, but as a shareholder myself (though not in Raytheon), I think our companies owe their owners better. They owe it to us to tell us about material events, whether good news or bad. Instead, they hand us a shovel and tell us to dig it up for ourselves.
For related Foolishness: