Trump blasts ‘out of control’ F-35 fighter costs, and maker’s stock price swoons

Memo to Corporate America: Be ready to be Donald Trump’s next target. Defence giant Lockheed Martin Corp found that out Monday when the president-elect again used Twitter to blast the F-35 fighter-jet programme for costs he termed “out of control.”

The stock prices of Lockheed Martin, the project’s prime contractor, and of one of its suppliers quickly dropped. It was the same scenario that hit Boeing last week when Trump tweeted that the development of new Air Force One jets was too expensive.

Never mind that Trump championed building up US defence as part of his presidential bid. The F-35 contractors learned that any company can suddenly find itself on Trump’s bad side, especially those that do business with Uncle Sam.

“The clear message that’s being sent is that the president-elect is going to fight to save taxpayer money at every turn,” said Trump spokesman Jason Miller. “I would expect this to be wide reaching and impact all of government as we look to come up with better deals.”

Presidents have leaned on big companies in the past in hopes of enacting change. But what’s happening with Trump is novel, public relations experts and business analysts said, because he’s using the lightning-fast communication tool of social media to spread his complaints to millions of people, with no prior warning. And he’s yet to take office.