Raytheon Awarded $49 Million DoD Contract Weeks After Former Board Member Lloyd Austin Confirmed as Defense Secretary

Secretary of Defense Lloyd Austin stands to profit from a new Department of Defense contract with arms contractor Raytheon, even after he promised to divest from Raytheon holdings he acquired as a civilian.

A new $49 million contract was awarded to Raytheon last week, just weeks after the company’s former board member Lloyd Austin was confirmed as the new Secretary of Defense. The contract is for engines for VTOL (vertical take-off and landing) aircraft.

Austin joined the board of Raytheon Technologies in 2016, the same year he retired from the armed forces. As of 2020, his disclosed Raytheon stock and compensation holdings amount to more than $1.4 million, and it’s likely he’ll sell his Raytheon shares at an inflated price due to the latest contract while in office as Secretary of Defense.

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Author: HP McLovincraft

Seeker of rabbit holes. Pessimist. Libertine. Contrarian. Your huckleberry. Possibly true tales of sanity-blasting horror also known as abject reality. Prepare yourself. Veteran of a thousand psychic wars. I have seen the fnords. Deplatformed on Tumblr and Twitter. View all posts by HP McLovincraft