Capital Buzz: Lockheed Martin’s Hewson gets a raise

December 2, 2012

Thomas Heath is away this week, so we rounded up some news in his absence.

Marillyn A. Hewson is getting a raise after being named Lockheed Martin ’s next chief executive, set to take over Jan. 1.

The Bethesda-based contracting giant said in a filing last week with the Securities and Exchange Commission that it has increased Hewson’s base salary to $1.1 million from $700,000 and her target bonus percentage to 125 percent from 90 percent. Both changes are retroactive to Nov. 9 — the day that Christopher E. Kubasik, who was expected to become CEO, resigned and Hewson was selected for the position. (Kubasik was forced out after the company said it discovered a personal relationship with a subordinate employee).

The salary applies only until Jan. 1, when Hewson will receive another raise. Her salary will increase to $1.38 million, with a target bonus percentage of 175 percent.

She will also be “required” to use a corporate jet for business and personal use, and Lockheed will provide personal security, according to the filing.

Robert J. Stevens, Lockheed’s chief executive until Hewson takes over, will become the contractor’s executive chairman as of Jan. 1 and will be a strategic adviser to the CEO through Feb. 28, 2014.

As strategic adviser, he will receive a base salary in 2013 of $1.8 million with a target bonus of 150 percent. By 2014, the company said his role will decrease, and he will receive a salary of $100,000 per month.

Through the end of 2014, Stevens will be able to use a corporate jet for business and personal use, and Lockheed will provide security.

— Marjorie Censer

A room with a view ... and no men

The Hamilton Crowne Plaza in Northwest Washington recently unveiled a new round of renovations, complete with a women-only floor for female business travelers.

The rooms come with plush bathrobes, magnifying mirrors and magazines — and can only be accessed with special elevator keys. (Although male guests are occasionally allowed to stay on the floor if the hotel is fully booked.)

And for women who need a bite to eat — the 14K Restaurant & Lounge at the hotel has a chef’s community table for women who are traveling alone. A nightly “women’s inspired networking” dinner is also available to women staying on the exclusive floor.

Development delayed

To great fanfare a year ago, the Peterson Cos. announced plans to build an office building of between 140,000 and 175,000 square feet at National Harbor, their sprawling development along the Potomac River in Prince George’s County. Parking and access were already in place — all the new building needed was tenants.

A year later, the Petersons are still waiting. Senior Vice President Jon Peterson said he thinks more corporate clients are considering the property. A key selling point: the site’s superior access to the Capital Beltway compared to its top competition, Alexandria.

His trigger finger is ready. “From a timing standpoint, if someone wants a quick transaction, we could move someone in in about 14 months,” he said.

On the other hand, Peterson could just decide to build something else there. “The beauty of National Harbor is that today it could be an office building, tomorrow it could be something else.”

— Jonathan O’Connell

The Buzz hears:

Dan Akerson, the Carlyle Group alumnus who is now General Motors chairman and chief executive, is auctioning off his personal 1958 Chevrolet Corvette to raise money for Habitat for Humanity Detroit and its efforts to rebuild the Morningside Commons neighborhood, located east of GM’s Renaissance Center headquarters in downtown Detroit. The auction, to be conducted by the Barrett-Jackson Auction Co. in Scottsdale, Ariz., is scheduled for Jan. 18.

— Thomas Heath

Hines, a privately owned firm involved in real estate investment, development and property management, will lead the redevelopment of Montgomery County’s former Public Safety Training Academy.

— Jonathan O’Connell

Government Liquidation next week plans to auction off an initial batch of Vietnam-era Air Force C-5 Galaxy engines, totaling more than 87,000 pounds of scrap metal. Government Liquidation — which operates as the federal unit of District-based Liquidity Services — is keeping the engines at Fort Meade, where winning bidders will scrap them on site. The company could end up selling off as many as 100 of the engines, which measure 8 feet tall, 26 feet long and 8.5 feet wide.

On Dec. 14, Government Liquidation will start accepting bids for the first batch of eight online. The engines will be auctioned in groups of eight to a dozen; bidding for each batch starts at $150.

The first auction will close Dec. 18.

— M.C.

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