""It's good to scare people sometimes," Luckey said in an interview with Bloomberg TV."
""President Trump is saying that he wants to see defence companies building new plants, building new factories, delivering on time, and then maintaining systems cost-effectively," Luckey said in an appearance on "The Close" on Wednesday."
""These measures do apply in equal measure to me. I now cannot pay dividends. I now cannot do stock buybacks if I'm not investing in new plants," Luckey told Bloomberg."
An executive order restricts defense contractors from stock buybacks and dividends until they produce superior products on time and on budget. The order caps defense executive salaries at $5 million and ties compensation to on-time delivery, increased production, and operational improvements. The president criticized contractors for issuing large dividends, doing stock buybacks, and paying exorbitant executive compensation while underperforming. Palmer Luckey, founder and CEO of defense technology startup Anduril, expressed support for the administration's measures, said "it's good to scare people sometimes," and noted his personal $100,000 salary plus significant ownership in his company.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]