Alliant Tech: Warfare Queen
During these trying economic times, profits are hard to come by. But "consumer confidence" doesn't mean much when your profits derive from government-issued contracts. In which case, you're still sitting pretty. Especially when said government harbors an insatiable lust for war and you just happen to specialize in the production of primate-killing projectiles.
Which brings us to Eden Prairie-based weapons manufacturer Alliant Techsystems, Inc. Last week, the taxpayer-dependent government subsidiary, er, freedom-defending private firm, announced it enjoyed a doozey of a second quarter: Profits shot up by 27 percent! This year's net income, $65 million, surpassed last year's $51 million, thanks to increased ammunition sales.
But while the Bush administration has been a boon to Alliant's profits, the arms maker is hedging its bets: Of the $230,000 Alliant Tech splurged on national campaign contributions this election cycle, 55 percent went to Democrats.
Get the This Week's Top Stories Newsletter
Every week we collect the latest news, music and arts stories — along with film and food reviews and the best things to do this week — so that you’ll never miss City Pages' biggest stories.