Ask the Defense Contractors to Cut Their Profits

Once upon a time, a company fell into financial trouble. Realizing its trouble, it went back to those it did business with, asking them to reduce how much they were charging for their services.

Actually, I'm thinking that is a normal-enough business practice. I've seen it done.

And, somehow, it seems this might be the time for the federal government to try this idea. Take our defense contractors. Would it be so wrong to ask them if their chief executives would consider taking pay cuts? Would it be so wrong to suggest they give up some dividends? Would it be wrong to ask the company officials to go back to their stockholders, asking them if they would be willing to hold onto their shares even though the company was planning to reduce the profits?

I do not know that that is even legal, asking stockholders such a question. But, if it is, I don't know why it would be wrong to introduce legislation making it legal.

Yes, you are hearing me right. I'm saying, Go to General Dynamics, and Halliburton, and Rockwell Collins, and Boeing, and Teledyne, and Navistar, and Lockheed, and Kellogg, Brown and Root  . . . Go to them all, asking each of them to cut their profit margin and cut their executives pay in the name of helping their country out a little.

Don't know how much, but, yes, it does seem a savings could be made. If this is the way businesses do business and if the U.S. is the biggest business of all and if it has the biggest debt of all . . . well, maybe we should try it.