Word: contract
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Dates: during 1960-1969
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...biggest leak in the Defense Budget comes from another source: the process of procuring goods and services, which cost $44 billion this year. This process involves two stages: Pre-awarding of contracts, and Post-awarding of contract...
...award stage the Defense Department determines the type of contract and the process of entering it. The Defense Department has a Fixed Price type of contract, in which it pays a predetermined fixed price, and a Cost type of contract, in which it pays the cost of fulfilling the contract...
Eckstein points out first that with the war in Vietnam raging, the non-Vietnam military budget today is, by normal standards, an austerity budget. All military construction in the U.S. has been stopped. Pay-increases to military personnel have been deferred. There have been surprising declines in contract awards to aerospace industries and other businesses, Eckstein notes. The procurement of the Minuteman-three has been postponed for eleven months. In addition it has been officially announced that the extra $3 billion of Vietnam spending in the current fiscal year will come entirely from the reprogramming of non-Vietnam military expenditures...
...Italy's state-owned ENI petroleum company is ready to build a pipeline from the Ukraine to Trieste. Olivetti is in the midst of talks to supply the Soviet Union with office equipment. Almost weekly some new deal is announced in which an Italian company snaps up a contract in Russia. The man most responsible for all of this is an Italian, Piero Savoretti, 46, who for years has labored patiently to sell Italian products in Russia...
Savoretti landed his first contract, for $1,600,000 worth of grinding machines, a long, tough year after he set up headquarters in the Hotel National facing Red Square. Almost two years were to pass before two synthetic fiber plants worth $40 million were ordered through his services from Chatillon in Italy. Then things started picking up with contracts for six 50,000-ton tankers for Savoretti's client Ansaldo, followed by others and culminating in the Fiat deal, the largest the Soviets ever made with a Western firm...