Mr. Vance Coffman
Chief Executive Officer
Lockheed Martin Corporation
6801 Rockledge Drive
Bethesda, MD  20817

 

Dear Mr. Coffman:

As you know, the International Association of Machinists and Aerospace Workers represents thousands of Lockheed-Martin employees.  As both employees of Lockheed-Martin, and shareholders of the Company through the saving plan, our members are significant stakeholders in the Company.  As such, we are gravely concerned about the reappointment of Mr. Frank Savage to Lockheed-Martin’s Board of Directors. 

At this time, with so much concern about corporate accountability in the wake of the Enron debacle, we fear that having Mr. Savage, who served on the Enron board, sends the wrong message to our members, shareholders, and the general public.

In addition to removing Mr. Savage from the Board, I request that we have a meeting to discuss Lockheed-Martin’s plans for avoiding an Enron-like meltdown.  In view of the importance of Lockheed-Martin as the lead supplier of defense products to the United States government, it is doubly important that positive measures are taken to avoid any appearance of impropriety and to adopt positive measures of corporate accountability.  I look forward to hearing from you as soon as possible on this matter.

 

                                                                        Sincerely,


                                                                        R. Thomas Buffenbarger
                                                                        INTERNATIONAL PRESIDENT


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