Lockheed Martin to Pay $38 Million for Overbilling Air Force

http://www.spacewar.com/2003/030827213051.yuysn61a.html

Lockheed Martin will pay the US government 37.9 million dollars to settle accusations that it inflated the cost of contracts for the US Air Force, the justice department said.

However, the company was awarded $17 billion in defense contracts in 2002, up from $14.7 billion in 2001. And another $4 billion multi-year contract with the U.S. Air Force and the Marine Corps for the Hercules Aircraft for 2003.

In 2003 they got a $106.6 million contract for Paveway II GBU-12 and –16 Laser Guided Bomb (LGB) kits, as part of a $281 million contract.

And they benefited from the $1 billion in contracts that the Pentagon transferred to Lockheed after the Boeing spy flap.

The government had also accused Lockheed Martin of purposely inflating a contract proposal for a foreign military sales contract under the Low Altitude Navigation and Targeting Infrared for Night (LANTIRN) programme. The US government had hoped to sell the equipment to Saudi Arabia, Greece and Bahrain as a means of offsetting a cost over-run on another Air Force contract.

In announcing the settlement, Assistant Attorney General Peter Keisler warned that Lockheed should be an 'example' to other companies that try to overcharge government agencies.

Example:
$17 billion defense contracts
$14.7 billion defense contracts
$4 billion defense contracts
$106.6 million defense contracts
$1 billion = $37 billion+

Sweet. Immunity from government penalties for abuse, as long as we keep them on the dole...

I know. Those are old contracts. But the year’s not over yet.
The company reports 80% of its business is with the U.S. Defense and federal government. And Boeing, their main competetor is banned from future rocket contracts...

What did we pay to prosecute these guys?

"In announcing the settlement, Assistant Attorney General Peter Keisler warned that Lockheed should be an 'example' to other companies that try to overcharge government agencies. "

yeah, ... what an "example" ... overbill supposedly on purpose, ... maybe get caught (how many other times have they done this and not got caught?), ...and at worst pay a small fine,.... and then get awraded hundreds of millions or billions in more contracts. yes, some "example."

when are they going to start revoking corporate charters? and holding individuals criminally responsible? and, maybe not allowing those that engaged in such activity to work in a corporation again. Aren't these people that do this a "threat to national security"?

when are they going to start revoking corporate charters?

this is imperative if we're going to create positive change

How do they get these contracts?

Peter Teets, the former president and chief operating officer of Lockheed Martin who retired from the company in late 1999,
presently serves as the director of the National Reconnaissance Office (NRO), undersecretary of the Air Force, and chief procurement officer for all of military space, controlling a budget in excess of $65 billion, a figure that includes $8 billion a year for missile defense and $7 billion annually for NRO spying.

To date, it is believed that the NRO has provided slightly more than $500 million each to Lockheed Martin and Boeing.
http://www.webnetarts.com/socialjustice/laertes.html

Former Lockheed Martin Vice-President Bruce Jackson was a finance chair for the Bush for President campaign; Vice-Presidential spouse Lynne Cheney is a former board member of Lockheed Martin, and used to receive $120,000 per year from the company for attending a handful of semi-annual board meetings.

Chris Williams, lobbyist for Johnston & Associates, is one of nine members of the Defense Policy Board to have ties to defense companies. His firms represent Lockheed Martin, Boeing, TRW and Northrop Grumman.


Does this threaten national security?

Lockheed faces China trade charges: The US State Department accuses Lockheed Martin of giving sensitive rocket technology to China in breach of US export control- http://news.bbc.co.uk/1/hi/world/americas/704327.stm


The strange bedfellows of China
http://www.worldnetdaily.com/news/article.asp?ARTICLE_ID=16340


'China acquiring missiles at faster rate'
http://www.bday.co.za/bday/content/direct/1,3523,1401369-6079-0,00.html

Lockheed has been named in at least 33 cases concerning overcharges on govt. contracts, improper technology transfers to China, falsifying results on nuclear saftey tests, job discrimination, pollution, and more.
http://www.the-catbird-seat.net/LockheedMartin.htm