by Mark Silva
William Lynn, President Barack Obama's pick for deputy Defense secretary and a former Raytheon lobbyist, says he will sell his stock in the military contractor to free him from conflicts in the new administration.
The Obama White House, which has set stringent rules against lobbyists entering the administration or leaving and then lobbying their colleagues, also has said that "waivers'' may be needed in some cases. And the administration is eager to settle questions surrounding its Defense candidate.
Pentagon nominee Lynn, left, won't be forced to refrain from any decisions related to his former employer. Instead, the Defense Department says, Lynn's dealings at Defense will be subject to ethics reviews, according to Geoff Morrell, a Defense spokesman.
Defense Secretary Robert Gates, a holdover from the Bush administration, did not want Lynn to have to recuse himself from any decision involving Raytheon because it would severely limit his ability to do his job, the spokesman says.
In the current market, the former Raytheon lobbyist may not part easily with his holdings.
While the stock hit a 52-week high of $67.49 last February, it still was holding above $50 per share today, which, in the current environment, is not that bad. (See the six-month record of Raytheon's stock performance, here in the Swamp, above.).
The Associated Press and Business Week contributed.
Comments
I think President Obama is aware of this being a potential fulcrum for the right-wing noise machine to tar his administration from day one and he would be wise to stay on message by withdrawing the nomination.
It will, however, be difficult to find a defense department knowledgeable person who does not have industry connections, that's why it's known as the military-industrial complex.
Posted by: Senaca Doanne | January 23, 2009 8:05 PM
While the rabid right harp and criticize, lets remember that fact that this is the first president to attemp to change this while the last one embraced them.
Posted by: bill r. | January 23, 2009 8:08 PM
"While the rabid right harp and criticize, lets remember that fact that this is the first president to attemp to change this while the last one embraced them."
Posted by: bill r. | January 23, 2009 8:08 PM
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First of all, your perpetual, automatic characterization of anybody who even mildly criticizes Obama as "rabid" betrays your especially mean spirited ignorance. That kind of unthinking vitriol doesn't bolster your lame argument.
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As to that argument, when did Obama ever really "attempt to change this"? I mean REALLY? Yes, I know about the campaign slogans, but his entire career -- INCLUDING THE JUST FINISHED CAMPAIGN -- has been a cozy financial and working connection to lobbyists. Lobbyists even worked on his campaign staff.
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And that business as usual continues to this day, as evinced by the appointment of William Lynn.
Posted by: MJ | January 23, 2009 10:01 PM
Although I am left of center I can't support this appointment in no way. Obama just set the rules about lobbyist working for him, and he ignores them and is hires a lobbyist to run the pentagon. Where's the change ? Why not a retired general like Wes Clark, who doesn't own stock in Raytheon. One thing you can count on is the rest of the spineless dems will not protest.
Posted by: Joseph | January 24, 2009 7:30 AM
bill r, always the "herd mentality and group think" excuses. A rule is a rule or should we say when Obama decides to ignore it at his pleasure. If this had been Bush you would have went nuts. Maybe he will make exceptions on closing Gitmo and harsh interrogations too. He has been on the job for what 3-4 days and he already changing his change. Can you believe in someone who does not follow his own rules? Being a compassionate guy, it appears to be another "hiccup", so I say confirm him, at least he pays his taxes.
Posted by: Bubba Porter | January 24, 2009 8:42 AM
This gives me a really queasy feeling. Let us think it through. Lynn has already been through the revolving door several times - industry to Clinton administration, then right back to industry. We worry, not just that he will favor Raytheon above other contractors to advance the value of his personal stock holdings. Will he choose the interests of his entire industry (for instance, clusterbomb exporters) over the needs of our nation and humanity in general for actual peace and security, in all his planning and allocation of our vast resources?
The media were going on Friday about Obama's need for his Blackberry. There he stood, greeting the free press, alone and surrounded. Look at his eyes: the night before, he had taken 30 human lives, probably the first ever, on his direct personal order.
Click on this link, and watch drones and hand-held communication devices come together on the future battlefield:
http://www.defensetech.org/archives/cat_trimble_on_the_case.html
Clearly, we need somebody who understands deeply how this "military industrial complex" thing has siezed control of our national agenda. We need to break that control, but without dropping any vital balls that are already in the air.
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Posted by: Mary Porter | January 24, 2009 12:46 PM
Change? Sounds like more of the same. Raytheon = this administrations Halliburton.
Posted by: EL | January 24, 2009 3:44 PM
Wait a minute--I don't want ANYONE from the Military Industrial complex the MILITARY MAFIA in service. Why not pick Dennis Kucinich.
Posted by: Kucinish was my pick. Hope we're gonna see the spying on citizens ended | January 25, 2009 11:10 PM