“Financial, Defense Lead Area Industries in Political Giving”
Executives and employees of financial services firms and defense contractors have given the most money to the two major political parties and their presidential nominees, a review of donations by some of the region’s largest companies and nonprofit organizations shows.
The leaders and employees of Lockheed Martin gave evenly to both sides as well. Its PAC and employees together injected $186,183 into the contest for the White House, with slightly more money going to Obama. That includes $60,000 evenly distributed between the RNC and DNC by Lockheed’s PAC.
The PAC does not give to specific presidential candidates as a policy, said company spokesman Thomas Jurkowsky. The company employs 140,000 people worldwide.
Nationally, the defense industry lags well behind financial services and insurance firms as a top source of campaign cash, Krumholz said. And like Lockheed, other defense companies generally prefer to contribute to the campaigns of lawmakers who have direct oversight of defense spending, rather than to White House candidates.
“The people they are concentrating on are on key committees in Congress,” Krumholz said. “They are looking to shore up relationships for bidding on future contracts or to win contracts.”