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...never underestimate the indefatigable American profit motive. One Houston contractor, Bert Screen, hopes to make his fortune rebuilding New Orleans. He was packing up his Ford pickup last week, rounding up a crew and planning to head east. "In a twisted way, I'm looking forward to it," he says. "I've always felt New Orleans was my second home, so I will help rebuild it, and make a pile of money." The recovery has already begun. --With reporting by Lisa Takeuchi Cullen, Jyoti Thottam, Dody Tsiantar and Deirdre van Dyk/New York, Wendy Grossman/ Houston and Douglas Waller/Washington

Author: /time Magazine | Title: Billion Dollar Blowout: Billion Dollar Blowout | 5/10/2006 | See Source »

...Central Intelligence Agency hand who was close to outgoing Director Porter Goss was previously a paid consultant to one of the defense contractors who allegedly bribed ex-Rep. Randy "Duke" Cunningham, according to government documents and a person familiar with the matter. The financial link between Brant Bassett - who served two stints at the CIA and recommended the controversial Kyle "Dusty" Foggo for a top agency post - and defense contractor Brent Wilkes could prove a further embarrassment to Goss in the wake of what sources in and out of government say are investigations by the CIA inspector general...

Author: /time Magazine | Title: Another Goss Aide Is Linked to Military Contracting Scandals | 5/10/2006 | See Source »

...growing investigation into a federal bribery case that has already sent former California Congressman Randy (Duke) Cunningham to prison for more than eight years. A source close to the investigation tells TIME that the Justice Department is investigating reports that one of Cunningham's benefactors, Pentagon and CIA contractor Brent Wilkes, a buddy of Foggo's since high school, provided Foggo with improper gifts, such as lavish vacations. A CIA spokesman says Foggo "denies any improper gifts," and Wilkes' lawyer has similarly denied any wrongdoing...

Author: /time Magazine | Title: The Spy Master Cracks the Whip | 5/7/2006 | See Source »

...obscure engineering work published more than 60 years ago. Then, when it turned out that other rules had been lifted from the precepts of Defense Secretary Donald Rumsfeld and humorist Dave Barry, the episode became a full-blown public relations disaster for the CEO of Raytheon, a defense contractor based in Waltham, Mass., that has 80,000 employees and more than $22 billion in annual sales. By last week a chastened Swanson apologized at the annual shareholders' meeting, and Raytheon's board docked him the equivalent of $1 million out of a pay package that amounted to $7 million...

Author: /time Magazine | Title: Rule No. 1: Don't Copy | 5/7/2006 | See Source »

...Swanson's tale to this year's ledger of fakery and its fallout. RadioShack CEO David Edmondson resigned over a tarted-up résumé. Harvard sophomore Kaavya Viswanathan has been roasted for her cribbed chick-lit novel. But Raytheon is a major government contractor that sells missiles, not stereos, and Swanson is a big boss, not a teenage undergrad. Still, he insists it all began with an innocent mix-up. Swanson asked staff members to compile a presentation from materials he kept in a file. It was such a hit that he and his staff collected 33 "rules...

Author: /time Magazine | Title: Rule No. 1: Don't Copy | 5/7/2006 | See Source »

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