M.I.C. pigs with their snouts deep in the public trough
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Bloomberg) The Pentagons purchasing agency says Boeing Co. (BA) must refund $13.7 million in excessive prices charged on spare parts, including a $10 device for which the defense contractor charged $2,286 apiece.
The Defense Logistics Agency is seeking a refund from Boeing, spokeswoman Michelle McCaskill said in an e-mailed statement. The refund will be for the full $13.7 million identified and will be requested by July 31, she said.
The agency overpaid about $1.3 million for 573 of the aluminum bearing sleeves used on an aircrafts main landing-gear door that should have cost $10 each, the Pentagons inspector general said in an audit labeled For Official Use Only.
Wasteful spending resulted from agency personnel failing to negotiate good deals or to perform adequate oversight, and from Boeings failure to pass on savings it won from subcontractors, according to the complete audit report. A summary of the findings was reported by Bloomberg News on June 7. ......................(more)
The complete piece is at:
http://www.bloomberg.com/news/2013-06-19/boeing-told-to-repay-after-charging-2-286-for-10-part.html