Word: bidding
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Dates: during 1990-1999
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...only other high-volume producer in the area, had a contract for a million tons, including some extracted from right beneath Highway 50. With both contracts due to expire on Jan. 1, the utility saw a chance to pit the two against each other in an all-or-nothing bid to be the plant's major coal supplier. It asked both Consol and Mettiki to bid for a five-year contract, with a buyer's option to renew for an additional two. Word went out in August 1995 that Consol had won, apparently assuring the future of the Potomac mines...
...that was not the last word. Virginia Power had also offered Consol and Mettiki the option of devising any other kind of bid they wanted, and the Maryland mine came through with a 10-year bid that Consol couldn't match. With coal prices still on a downward trend that began 19 years ago, fuel contracts of that length are all but unprecedented. But Mettiki vice president for operations Tom Wynne insists there was nothing nefarious about this. "We invested every inch of our effort for two years into getting this contract," he says. "We did our homework...
...before he submitted the bid, Wynne says, he got cold feet and slashed an additional 50[cents] a ton off the delivered price: it came in at $24.85, 19% lower than last year's. Wynne says he trimmed the bid to the bone because the jobs of Mettiki's 260 non-union workers, 30% of whom live in West Virginia, were every bit as much at stake as the jobs across the Potomac River. The men who actually work at the face of the mine (as opposed to some maintenance and support workers on the "outside") receive wages and benefits...
...been suspended in the defense industry, Thompson notes. "There's just one customer: the government. It's never been that competitive to begin with." If the merger comes off, the Pentagon will be mightily dependent upon three big defense contractors: Lockheed/Northrop, Boeing/McDonnell and Raytheon, which recently put in a bid for General Electric's Hughes Electronics. Maybe then they will merge...
...Senate investigators are now trying to determine whether the Forum was used to launder foreign campaign funds. The controversy was foreshadowed in the memo by Baroody, who explained he was resigning partly over Barbour's "fascination" with foreign sources of funding. Baroody wrote that while the think tank's bid for nonprofit tax status required it to distance itself from partisan activities, staff members felt the group was "operated like a division" of the Republican National Committee. He cited examples of R.N.C. intervention to underline his "concern that separation between [the Forum] and R.N.C. is a fiction." A Barbour associate...