Flying high: thanks to Boeing's job modification initiative, the company now enjoys a tenfold return on its injury reduction investments. It's also enjoying big boosts in productivity and employee-employer relations

Risk & Insurance, May, 2004 by Dan McCue

Chief risk executive: Leon Palmer, Director, Risk Management

CEO: George David

CFO: Steven F. (Steve) Page

Board audit chair: Frank P. Popoff

Total revenue: $30,723.0 million

Net income: $2,361.0 million

Number of employees: 203,300

Primary broker: Marsh

Captive: UT Insurance (Vermont) Inc.

Risk exposures: Product liability issues associated with products under warranty; changes in federal and state regulations: fluctuation in the price of raw materials

Risk strategies: The company uses derivative instruments, including swaps, forward contracts and options, to manage certain foreign currency, interest rate and commodity exposures

LOCKHEED MARTIN CORP. Bethesda, Md.

Lockheed Martin Corp., an advanced technology company, was formed in March 1995 with the merger of two of the world's premier technology companies, Lockheed Corp and Martin Marietta Corp. Lockheed Martin is principally engaged in the research, design, development, manufacture and integration of advanced technology systems, products and services. Nearly 80 percent of Lockheed Martin's business is with the U.S. Department or Defense and the U.S. federal government agencies.

Chief risk executive: Dermis Bronco, Director, Risk Management

CEO: Vance D. Coffman

CFO: Christopher E. Kubasik

Board audit chair: Gwendolyn S. King

Total revenue: $31,8240 million

Net income: $1,053.0 million

Number of employees: 125,000

Primary broker: Withheld

Captive: No

Risk exposures: The availability of government funding both domestically and internationally; launch failures and potential problems that might result, including potential loss of future or existing orders; the ability to procure insurance to cover operational and contractual risks, including launch and satellite failures on commercially reasonable terms; economic business and political conditions both domestically and internationally

Risk strategies: Lockheed Martin sometimes uses derivative financial instruments to manage its exposure to fluctuations in interest rates and foreign exchange rates

HONEYWELL INTERNATIONAL INC. Morristown, N.J.

Honeywell is a diversified technology and manufacturing leader of aerospace products and services; control technologies for buildings, homes and industry; automotive products; power generation systems; specialty chemicals; fibers; plastics and advanced materials. Honeywell products touch lives everyday, whether you're on a plane, driving a car, heating or cooling a home, furnishing an apartment or playing a sport.

Chief risk executive: Lois Fuchs, Assistant Treasurer-Risk Management

CEO: David M. Cote

CFO: David J. Anderson

Board audit chair: Russell E. Palmer

Total revenue: $23,103.0 million

Net income: $1,324.0 million

Number of employees: 108,000

Primary broker: Aon

Captive: Honeywell Assurance Ltd. (Bermuda)

Risk exposures: Asbestos related litigation; changes in federal, state and local regulation with regard to employee health and safety and the environment; a significant portion of Honeywell's customers are in the commercial air transport industry (aircraft manufacturers and airlines) accounting for approximately 17 percent of its consolidated sales in 2002