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lockheed martin
As Bombs Drop, Weapons Industry Stocks Take Off
One wonders how the executives of these companies feel about their products being used for mass slaughter in Gaza and dangerous escalation in Lebanon.
Oct 04, 2024
It’s a sad but familiar spectacle — as people die at the hands of U.S. weapons in a faraway war zone, the stock prices of arms makers like Raytheon and Lockheed Martin soar. A piece posted yesterday at Forbes tells the tale: “Defense Stocks Hit All-Time Highs Amidst Mideast Escalation.”
One wonders how the executives of these companies feel about their products being used for mass slaughter in Gaza and dangerous escalation in Lebanon. For the most part they’re not talking, although they are glad to occasionally inform their investors that “turbulence” and “instability” means their products will be needed in significant quantities by our “allies.”
And, not unlike the Biden administration, they tend to couch their rhetoric in terms of a “right to self-defense.” They act as if Israel’s killing of 40,000 people and displacing millions more — the vast majority of whom have absolutely nothing to do with Hamas, nor any way to influence their behavior — can somehow be white washed by calling it a defensive operation.
No one who steps outside the bankrupt world of official Washington to look at the impacts on actual human beings in Gaza, the West Bank, and Lebanon can take the notion that U.S. weapons are being used for defense in the current Middle East war seriously.
Peter Thiel and his colleagues at Palantir are an exception to the closed mouthed approach of executives at the larger weapons companies. When asked how he felt about his company’s technology to pick targets in Gaza, he said “I'm not on top of all the details of what's going on in Israel, because my bias is to defer to Israel. It's not for us to second-guess every, everything.” And Palantir CEO Alex Karp flew the entire company board to Israel earlier this year to show solidarity with Israel’s war effort in Gaza.
At least Palantir’s leaders are honest and open about where they stand. Leaders of firms like Lockheed Martin, Raytheon, General Dynamics, and Boeing that supply the weapons that have laid waste to Gaza and are now pounding Lebanon prefer to hide behind euphemisms about promoting defense, deterrence, and stability, and assisting allies.
But what about when those allies are engaged in widespread war crimes that prompted the International Court of Justice to say that Israel’s war on Gaza could plausibly be considered a genocide? Is it morally acceptable to just cash the checks and avert one’s eyes, or do the companies profiting from this grotesque humanitarian disaster have a moral responsibility for how their products are being used?
A few years ago, during the height of Saudi Arabia’s brutal invasion of Yemen — enabled by billions of dollars of U.S.- and European-origin weapons — Amnesty International probed this very point. In a report entitled “Outsourcing Responsibility,”the group provided the findings of a survey it had done of 22 arms companies, asking them “to explain how they meet their responsibilities to respect human rights under internationally recognized standards.”
Amnesty noted that "many of the companies investigated supply arms to countries accused of committing war crimes and serious human rights violations, such as Saudi Arabia and the UAE.” None of the companies queried provided evidence that they were doing any sort of due diligence to ensure that their weapons weren’t being used to commit war crimes or human rights abuses. Fourteen companies failed to respond at all, and of the eight that did answer Amnesty’s questions gave variations on the theme of “we just do what the government allows.”
This casts influential arms makers as innocent bystanders who await government edicts before marketing their wares. In fact, weapons manufacturers spend millions year in and year out pressing for weaker human rights strictures and quicker decisionmaking on the sale of arms to foreign clients.
The weapons merchants are right about one thing. It is going to take changes in government policy to stop the obscene trafficking of weapons of war into the world’s killing zones. That will mean breaking the web of influence that ties government policy makers, corporate executives, and many members of Congress to the continued production of weapons on a mass scale. We can’t expect a profit making entity like Lockheed Martin to regulate itself when there are billions to be made fueling conflicts large and small.
Which means the responsibility for ending the killing and the war profiteering it enables falls to the rest of us, from students calling for a ban on arming Israel to union members looking to reduce their dependency on jobs in the weapons sector to anyone who wants a foreign policy driven by what makes us safe, not what makes Palantir and Lockheed Martin rich.
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'The Genocide Gentry': Weapon Execs Sit on Boards of Universities, Institutions
"This research provides a view into just how embedded the corporate, profit-fueled war machine is in our higher education and cultural institutions," said one campaigner.
Sep 18, 2024
A trio of human rights groups on Wednesday announced a new interactive initiative exposing what the coalition is calling a "Genocide Gentry" of weapons company executives and board members and "54 museums, cultural organizations, universities, and colleges that currently host these individuals on their boards or in other prominent roles."
The coalition—which consists of the Adalah Justice Project, LittleSis, and Action Center on Race and the Economy (ACRE)—published a map and database detailing the "educational and cultural ties to board members of six defense corporations" amid Israel's ongoing annihilation of Gaza, for which the U.S.-backed country is on trial for genocide at the International Court of Justice.
" Israel has destroyed every university in Gaza and nearly 200 cultural heritage sites since October 2023, using bombs and weapons manufactured by the companies included in the Genocide Gentry research," the coalition said. "As of April, these attacks have killed more than 5,479 students and 261 teachers and destroyed or critically damaged nearly 90% of all school buildings in Gaza."
"Universities across the country including the likes of Columbia University, Harvard University, the University of Southern California, and New York University have remained largely silent on Israel's genocidal campaign in Gaza," the groups added. "Behind closed doors, these same universities are hosting executives and board members of the companies manufacturing the weapons used in these attacks as board members, trustees, and fellows."
Members of the Genocide Gentry include:
- Jeh Johnson, Lockheed Martin board of directors: Johnson is currently a Columbia University trustee, and sits on the board of directors at MetLife and U.S. Steel. Columbia University notably shut down student protests demanding divestment from weapons companies like Lockheed Martin.
- Brian C. Rogers, RTX board of directors: Rogers is currently a trustee of the Harvard Management Company, tasked with managing the $50 billion endowment. Notably Harvard administrators have cracked down on students demanding divestment from weapons companies like RTX, formerly Raytheon.
- Catherine B. Reynolds, General Dynamics board of directors: Reynolds is a trustee of the Kennedy Center and sponsors a fellowship at New York University, which has also cracked down on anti-genocide protests and recently enacted a policy equating anti-Zionism with antisemitism.
"Students on university campuses across the country have not only been demanding divestment, but transparency," said Sandra Tamari, executive director of the Adalah Justice Project. "Transparency about their institutions' investments, partnerships, donors, and decision-makers, and their connections to individuals and companies directly enabling and profiting off war and genocide."
"This research helps provide some of this transparency by illuminating just how embedded the interests of the weapons industry are within our institutions, so we can begin chipping away at the power and influence that they wield," she added.
ACRE campaign director Ramah Kudaimi noted that "as part of its genocide since October 2023, Israel has targeted universities and cultural centers across Gaza, destroying campuses, museums, libraries, and more."
"That this is all backed by the United States means U.S. educational and cultural institutions have a responsibility to consider what their role is in helping end these war crimes, and that starts with reconsidering their connections with the weapons companies profiting from the destruction," Kudaimi said.
Munira Lokhandwala, director of the Tech and Training program at LittleSis, said: "This research provides a view into just how embedded the corporate, profit-fueled war machine is in our higher education and cultural institutions. Through this research, we show how the defense industry shapes and influences our civic and cultural institutions, and as a result, their silence around war and genocide."
"We must ask our institutions: What role are you playing in whitewashing war and destruction by inviting those who profit from manufacturing weapons onto your boards and into your galas?" she added.
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Maine's Largest City Becomes First on US East Coast to Back Israel Divestment
"We urge everyone to join this effort in their own communities," said the Maine Coalition for Palestine. "Our tax money should not be spent killing women and children in Palestine."
Sep 05, 2024
Lawmakers in Portland, Maine voted unanimously on Wednesday to divest public funds from "all entities complicit" in Israel's assault on the Gaza Strip, making the city the first on the U.S. East Coast to take such a step.
Sponsored by the Maine Coalition for Palestine and the Maine chapter of Jewish Voice for Peace (JVP), the newly approved resolution contains a "divestment list" of more than 85 companies, from U.S.-based Chevron, Lockheed Martin, and Boeing to Israel-based Elbit Systems. The list also includes public entities such as Israel Bonds and state-owned Israel Aerospace Industries.
"The city of Portland recognizes the ongoing humanitarian crisis in Gaza and seeks to avoid economically supporting this crisis through the city's financial investments," the resolution states. "The city council urges that the city manager divest the city of Portland from all entities complicit in the current and ongoing humanitarian crisis in Gaza and occupation of Palestine, including, without limitation, all entities on the divestment list when it is feasible and carries no financial penalty to the city."
Additionally, the resolution "urges the city manager to not make any future directly held general fund investment in any entities complicit in the humanitarian crisis in Gaza and occupation of Palestine."
The Maine Coalition for Palestine said Wednesday's vote makes Portland the fourth U.S. city to adopt an Israel divestment resolution. Two California cities—Hayward and Richmond—and Hamtramck, Michigan passed similar divestment resolutions earlier this year.
"Just as the people of the world spoke to end South African apartheid with economic pressure, we must do the same for Israeli apartheid and genocide."
In a statement, the Maine coalition called out the state's congressional delegation and the Biden administration for supporting Israel's destruction of Gaza, whose population is facing mass starvation and disease—including the reemergence of polio.
"Generations of families are being decimated by U.S. bombs supplied to Israel," the coalition said. "Maine Senators [Susan] Collins and [Angus] King, and Representative [Jared] Golden, accept significant campaign contributions from the Israel lobby, and they have refused to listen to their constituents' demands."
"Americans overwhelmingly want a cease-fire and an arms embargo," the group continued. "Divestment sends a clear message that current U.S. policy towards Palestinians is morally unacceptable and does not serve the interests of our country. We urge everyone to join this effort in their own communities. Our tax money should not be spent killing women and children in Palestine."
Sarah Snyder, a spokesperson for the Maine chapter of JVP, said that "as Jews in Portland, we have immense gratitude for the Portland City Council's resolution to divest municipal funds from the Israeli government and corporations complicit in the ongoing genocide of Palestinians."
"We are outraged and grief-stricken by the continued atrocities perpetrated by Israel," Snyder added, "and fully support our city heeding the call to divest. Just as the people of the world spoke to end South African apartheid with economic pressure, we must do the same for Israeli apartheid and genocide."
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