Announced in March of 2015, oil titan ExxonMobil plans to cut its capital budget by approximately 12% in the next year, with further reductions over the next two years. Current spending is at USD$38.5 billion, but the company intends on further lowering this figure in fiscal year 2015 to at least USD$34 billion. Despite these cuts, Exxon said they will increase their output of oil-equivalent barrels, delivering 4.3 billion barrels per day in 2017. Although the overall United States rig count is decreasing, crude oil production continues to climb higher. In a statement released to news outlets, the company’s CEO – Rex W. Tillerson – attributes the increase to savings in raw materials, service, and construction costs. Capital expenditures for the company peaked two years ago in 2013 at USD$42.5 billion.
Established in 1922, Raytheon is a major American defense contractor and industrial corporation with core manufacturing concentrations in weapons and military and commercial electronics. Until early 2007, it was involved in corporate and special mission aircraft and is currently the world’s largest producer of guided missiles.
Headquartered in Fairfax County, Virginia, General Dynamics is an aerospace and defense company that offers a wide range of products and services to many platforms including business aviation, combat vehicles, shipbuilding, and weapons systems and munitions. It also offers various communications and information technology systems and solutions.
The name DynCorp was established in 1987. Previously the company was named Dynalectorn Corporation after California Eastern Aviation, Inc. acquired Land-Air, Inc. In the late 1990’s DynCorp Technical Services (DTS) was established. DTS handled DynCorp’s entire portfolio of domestic contracts while DynCorp International LLC handled all international business. Then in 2003 Computer Sciences Corporation purchased DynCorp and all of its subsidiaries. The next year CSC sold DynCorp International, DynMarine and specific DTS contracts to VERITAS Capital Management for $850 million. CSC retained the DynCorp name to become DynCorp International. Finally DynCorp International was acquired by Cerberus Capital Management for $17.55 per share.
Raytheon was founded in Lexington Massachusetts in 1922 under the name American Appliance Company. It was not until 1959 that the company was renamed Raytheon.In 1922 they revolutionized the radio by inventing the S gas rectifier tube. This tube allowed radios to draw power from the wall socket instead of an expensive battery. The new technology revolutionized the radio into an affordable home appliance. The same technology was eventually used to power radars for the U.S. and British armies in World War II. Today Raytheon has grown into the fifth largest defense contractor in the world and the world’s largest producer of guided missiles. Roughly 90% of Raytheon’s total revenues came from defense contracts. Worldwide the company has about 63,000 employees and annual revenues of nearly $25 billion.The Raytheon Company is divided into four major divisions: Integrated Defense Systems, Intelligence and Information Services, Missile Systems, and Space and Airborne Systems.
