00:00It's Benzinga, bringing Wall Street to Main Street
00:02President Trump said construction was underway on a new granite helipad
00:06on the White House South Lawn, with Lockheed Martin agreeing to pay roughly $5 million
00:11toward the project, according to the Wall Street Journal.
00:14Trump said Sikorsky, Lockheed's helicopter unit, was paying because the new Marine One
00:19helicopters were more powerful than expected. Sikorsky makes the helicopters that carry
00:23presidents and won a 2014 contract to develop a new fleet with more powerful engines.
00:29Lockheed said it donated the funds to the National Park Service and said its federal
00:34engagement follows ethics and compliance standards. Officials knew as early as 2018 that the newer
00:41VH92A models could damage the lawn. The plan is part of a broader White House revamp that
00:46includes a delayed ballroom project backed by undisclosed donations from Lockheed and other
00:51companies. For all things money, visit Benzinga.com.
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