Defense Contract Management Agency News
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The Pentagon’s withholding of payments from Lockheed Martin Corp. over flaws in a business system used to track costs and schedules for its F-35 fighter has increased to $130 million.
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Rolls-Royce Holdings Plc was an average of 160 days late last year in delivering equipment needed for the U.S. Marine Corps version of the F-35 fighter to hover and land like a helicopter, according to the Pentagon.
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Lockheed Martin Corp., the No. 1 U.S. defense contractor, is the first company to have payments withheld under a new Pentagon rule intended to correct deficiencies with internal systems that track cost, schedules, accounting and purchases, according to the Defense Department.
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Boeing Co. should lose as much as $271 million in government payments for satellite launch services because the No. 2 U.S. defense contractor violated federal accounting rules, the Pentagon’s audit agency said.
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Lockheed Martin Corp. won’t ask the Pentagon to reimburse part of the $3.5 million it is paying the chief operating officer who left last month after it was disclosed he had an extramarital affair with a subordinate.
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A U.S. contractor in Iraq overbilled the Pentagon by at least $4.4 million for spare parts and equipment, including $900 for an electronic control switch valued at $7.05, according to a new audit.
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The Pentagon is withholding $46.5 million from Lockheed Martin Corp, its biggest contractor, because of continued flaws with a business system used to track costs and schedules for the F-35 fighter.
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The Pentagon’s contracts management agency has increased to 5 percent from 2 percent the funding it is temporarily withholding from Lockheed Martin Corp.’s aircraft unit, according to a Defense Department document.
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The jury deliberating whether Hynix Semiconductor Inc. and Micron Technology Inc. conspired to push Rambus Inc. out of the memory-chip market is reviewing trial testimony by Farhad Tabrizi, a former Hynix executive.
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Boeing Co. claims in a lawsuit that it and a venture it has with Lockheed Martin Corp. are owed more than $260.4 million by the U.S. for equipment and launch services used by the space program.
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