Word: gao
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Dates: during 1970-1979
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Pretax Profits Reply to Questtionaire GAO Study of 146 Contracts
...seem to bear them out. Yet charges have often been leveled that defense contractors make excessive profits on contracts for the military, frequently without much risk. Last week the controversy was given new life when a draft report by the Government's General Accounting Office leaked out after GAO staffers became fearful that its findings might be watered down. The report's conclusion: producing arms for the Pentagon is far more rewarding than is commonly realized...
...report, due to be issued this month in its full form, caused an immediate storm. It was condemned by spokesmen of the aerospace industry. The Pentagon-treated to an advance look-strongly urged the GAO to do its sums over again. The Pentagon's concern over the GAO's "interim" findings was understandable enough. The report contains startling disparities between the pretax profits that defense and space contractors acknowledged in reply to a GAO questionnaire and the GAO's findings after a detailed study of 146 recently completed contracts totaling $4,256,000,000. This...