GAO: Security clearance backlog hinders defense contractors

Article Abstract:

A report by the General Accounting Office (GAO) revealed that a huge backlog in the security clearance processing at the Department of Defense (DOD) will cost defense contractors time and money, raise national security risks and cause inefficiencies. The report came out in the form of testimony before the House Government Reform Committee by George Wilshusen, acting director for defense capabilities and management at the GAO.

United States. Government Accountability Office, Security clearances

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Lockheed rejects assertions that C-130J is flawed

Article Abstract:

Lockheed Martin Corp. and Air Force reject the findings of a report submitted by Department of Defense (DOD) Inspector General (IG) which state that Lockheed C-130J Hercules is rife with problems like the propeller blades coming apart and the 'hurricane hunters' that are unable to perform the missions. However, Air Force feels that the C-130J is meeting cost, schedule, contract, and regulatory commitments.

United States. Department of Defense

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Lockheed: Profits soar problem addressed in defense programs

Article Abstract:

Lockheed Martin Corp. increased its profit by 22.3% in April-June 2004. Lockheed faced problems in aircraft programs of F/A -22 Raptor Fighter, the F-35 Joint Strike Fighter (JSF) and Space Based Radar (SBR).

Sales, profits & dividends, Company sales and earnings, Company earnings/profit

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