Word: 5b
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Dates: during 1980-1989
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...such investigation uncovered by Pentagon auditors that came to light last week: because of inflated cost estimates, claims an internal Air Force memo, the Lockheed Corp. stands to earn nearly twice the profits agreed upon for the production of five C-5B transport planes. Another horror story was reported last week by the Washington Post: in 1981, top executives at General Dynamics allegedly sought to delay the disclosure of a $100 million cost overrun on its nuclear-submarine program until lucrative new Navy contracts that would offset the losses were signed. Sherick laments, "I keep turning over rocks, and under...
...Observer and Miami Herald, mail out questionnaires to the subjects of certain news stories to ask whether they feel they were treated accurately and fairly. When the Los Angeles Times in April found that a business story had grossly misrepresented the cost overruns on Lockheed Corporation's C-5B military transport plane, the newspaper ran a corrective follow-up that was twice as long as the erring story. CBS's 60 Minutes has, on the air, looked critically at its stories and techniques, and CBS and ABC have explored journalistic ethics in series of round-table documentaries...
...House debate began last week, both Lockheed and Boeing extolled their planes in a flurry of splashy full-page ads in the New York Times, Washington Post and Wall Street Journal. Smooth-tongued Georgians led the House forces for the C-5B, which is to be built in Marietta, Ga., while a squadron of Boeing backers from Washington and Kansas derided Lockheed's plane as the Edsel of the air. Democratic Representative Thomas Downey of New York echoed Boeing supporters: "The C-5B is in the top five of turkeys. The alltime turkey hall of fame...
...letter to Democratic Senator William Proxmire of Wisconsin, who called for the GAO investigation, Deputy Defense Secretary Frank Carlucci argued that the Pentagon's decision to buy the C-5B "was based on a careful analysis of our airlift needs." Indeed, experts predict that the joint congressional committee responsible for reconciling the two versions of the 1983 defense authorization bill will almost certainly follow the Pentagon's wishes. Unlike the 747, the C-5B can carry such outsize cargo as M-l and M-60 tanks and self-propelled howitzers, which can easily roll up the ramp...
...congressional hearing in May, five Pentagon experts were asked whether the difference in performance was worth the extra cost of the C-5B. Absolutely, was the unanimous reply. Thus the public can take consolation from the fact that the House may have made the right choice-even if it made it for all the wrong reasons. -By Richard Stengel...