Air Force backs GAO on Lockheed protest |
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Fri, 30 Mar 2007 16:42
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WASHINGTON (AP) - The Air Force has decided to follow government watchdog recommendations and back Lockheed Martin Corp.'s protest on a $15 billion helicopter deal, raising the possibility bidding will be revised and reopened.The nonbinding GAO recommendations asked the Air Force to revise contract costs and reopen discussions with rivals on a deal to upgrade 141 Sikorsky Aircraft Pace Hawk helicopters, used to rescue downed pilots.On Nov. 9, Chicago-based Boeing Co. won the initial contract, which has been on hold during the GAO review.The Air Force has asked the GAO to reconsider its recommendation on revising and reopening bidding. In a Feb. 26 finding, the GAO said criteria used to award the contract were 'inconsistent.'Shares of Lockheed Martin dropped 35 cents to $97.75 in morning trading on the New York Stock Exchange, while shares of United Technologies gained 5 cents to $65.04. Boeing shares were down 2 cents to $89.78, also on the NYSE.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Air Force won't rebid copter contract 