Raytheon Technology Corp. (RTX) has been assessed a $200 million fine for violating export laws involving exchanging information on U.S. combat aircraft with prohibited countries. The laws are associated with the International Traffic in Arm Regulations. According to the U.S. State Department, RTX is guilty of improperly classifying and controlling exports of defense articles, including classified material.
The penalties for even accidentally revealing export controlled materials can be quite harsh. We had rooms that were off-limits to foreign nationals because simply having a computer running and a screen visible was a five-figure fine. And that’s even if it had nothing on it but a cat picture.
Not necessarily. RTX is a huge corporation, the resultant of a 2020 merger of United Technologies and Raytheon. They became RTX in 2023. While a large portion of their revenue ($68+ Billion in 2023) is from government contracts, it is not their only source of income. These things are never as simple as they appear from a news article.
If you have never been through a merger between two major companies, it is a very complicated process involving hundreds of people and thousands of documents. Both companies set up data rooms where people come and go, looking through the information to determine various things that may dictate terms or pricing information, etc. I can see how it would be possible for some sensitive information to be obtained by people who should not have access, but I am very confused as to how this data could have been sent to Russia, China and Iran, all of whom are obvious adversaries of the US. If someone allowed foreign nationals from these countries into the data exchange process, they should be in prison themselves. Being a stockholder of RTX, I will be very interested in hearing more of this story.
I have concerns about the LEAP LEBANON INNOVATION PROJECT.
I believe an employee of RTX & Previously Raytheon may have been the mastermind behind this money laundering scheme, the IEDC & Govenor(s) have concocted using the Taxpayer’s money in land purchases and now the infrastructure needed
