One of the ways that someone can determine why a member of Congress is voting the way they are is to study the lobbyists comfortable enough to donate to them. Speaker of the House Mike Johnson has a few who are willing to show their support by publicly donating. While there were some concerns raised in the first article about donations from another lobbyist, Paul Sass is the focus of this article, along with who he represents.
Paul Sass
Here, via the Cassidy & Associates website, is a short biography on Sass.
“Paul Sass has joined Cassidy as a Senior Vice President. Paul comes to Cassidy after two decades on the Hill, where he most recently served as the Republican Staff Director of the House Committee on Transportation and Infrastructure (T&I) for Sam Graves (R-MO).”
“For the last 3 ½ years, since I took over as this Committee’s Republican leader, Paul has skillfully led our staff in many successful efforts to improve the quality and safety of our Nation’s infrastructure. No one has worked with more commitment and dedication to public service than Paul. I want to thank him for his service, his guidance, his loyalty, and his friendship over these last two decades. I wish him and his family the very best as he moves on to the next phase of his already accomplished career,” said Ranking Member Graves.”
“In addition to his time on T&I, Paul’s accomplished 20-year career on Capitol Hill included service as Legislative Director and Chief of Staff for Congressman Graves. These experiences served him well as he led strategic efforts and negotiations that contributed to the passage of substantial legislation. During his tenure as Republican Staff Director, the T&I Committee passed landmark bills including the Infrastructure Investment and Jobs Act, Water Resources Development Act of 2020 and 2022, Aircraft Certification Reform Act, and Coast Guard reauthorization, among others. Looking ahead, Paul brings deep policy and political understanding to the complex issues before the Committee, such as the upcoming FAA Reauthorization bill.”
Lobbying Clients
While this is still focusing on one of the donation forms, several clients of Cassidy and Sass can show why Johnson would want there to be continued support of Ukraine on the level that the government is supporting. One of the groups donating to Johnson is not represented by Sass, but is still donation based and making a large profit from the conflict. The companies that Sass is representing are making a lot of money from what is happening in Ukraine and the US is footing the bill for quite a bit of it.
Raytheon and Lockheed
Here, via Analyst News, is proof of the profiting that is going on for Raytheon and Lockheed Martin. Raytheon has retained Cassidy & Associates, which is Sass’s employer. Lockheed Martin has their employees donating directly to Johnson.
“Regardless of declining public support for military spending and a protracted conflict, American weapons manufacturers have seen their values skyrocket since the war began. In the weeks after Russia’s invasion, the market capitalization of Raytheon Technologies shot up to $155 billion from $128 billion at the start of the year. Lockheed Martin started 2022 worth $98 billion; by the end of year, it had reached $127 billion — its highest since records show. Northrop Grumman started the year on $61 billion and ended at $84 billion.”
“It’s a huge profit center for the big companies: Lockheed Martin and Raytheon and Boeing,” says William Hartung, a senior research fellow at the Quincy Institute, where he focuses on the global arms trade and Pentagon spending. “At the moment, I think they’re riding the wave.”
MarketWatch has also given proof of how much Raytheon is making.
“Shares of Raytheon Technologies Corp., the maker of the Stinger and Javelin missiles, rose Tuesday, after the company posted fourth-quarter profit that more than doubled from the year-earlier period, offsetting a slight miss on sales.”
“Chief Executive Greg Hayes said the Russian invasion of Ukraine had boosted demand for its products as governments raise defense budgets. The U.S. government said in December it would offer Raytheon’s Patriot air and missile defense system to Ukraine to help it defend itself against Russian missiles.”
“We remain in lockstep with the U.S. government to ensure we can continue to support our allies,” Hayes told analysts on the company’s earnings call.”
BAE Systems
BAE is represented by Sass and Cassidy. Here, via Barron’s, are the advantages they are having from the war in Ukraine.
“British military equipment maker BAE Systems on Wednesday announced a 17-percent jump in annual net profit as government defense spending increased amid the war in Ukraine.”
“Profit after tax stood at almost £1.9 billion ($2.4 billion) for 2023, BAE said in a statement. Revenue climbed nine percent to £23 billion.”
“Our performance, combined with our global footprint and record order intake, means we're well-positioned for sustained growth in the coming years," chief executive Charles Woodburn said in the earnings statement.”
Rheinmetall Defense
Rheinmetall is another client of Cassidy. Here, via Reuters, is how the German company is profiting.
“German arms manufacturer Rheinmetall (RHMG.DE), opens new tab expects record sales and increased profitability this year, as the war in Ukraine drives up defense spending in the NATO bloc in a trend set to buoy the company for years to come, it said on Thursday.”
“Rheinmetall expects to top 10-billion-euro ($10.9 billion) in sales for the first time in 2024, according to a company forecast that also envisages an operating profit margin of 14-15%, up from 12.8% in 2023.”
“"A new decade of security policy has begun," Chief Executive Armin Papperger said as the group presented results for 2023, the first full year of the Ukraine war.”
“Rheinmetall has ridden a boom in defense spending after Russia's full-scale invasion of Ukraine in February 2022 pushed Germany and other countries to ramp up military purchases to support Kyiv and replenish their own arsenals.”
“A surging share price has boosted Rheinmetall's market value to 18.4 billion euros from 4 billion euros two years ago.”
While it would be naïve to believe that there is a way to stop lobbyists from getting to politicians, this is to help educate those who may not have a chance to read donor lists. The people who are represented by these lobbyists are profit driven companies, with war being good for their business. While this is no smoking gun of illegal activity, it does show there is a definite interest to have Johnson act in a way that supports their way of thinking.
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