Word: tridents
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...years as chairman and chief executive of General Dynamics, David S. Lewis, 67, helped turn the company into one of America's most important defense contractors. The firm builds the Trident nuclear submarine and the sophisticated F-16 fighter aircraft. In recent months, though, General Dynamics has been awash in charges of millions of dollars in overbilling on Government contracts and allegations of fraud. Congress and the Department of the Navy have both launched investigations of company practices. During all the troubles, Lewis firmly maintained that he would not resign under fire, but last week he announced his retirement...
...Officer Gordon MacDonald, from dealing with Pentagon contracts. The firm recently agreed to repay the Government $244 million in improperly charged expenses. Such a blackball would put heavy pressure on General Dynamics to fire the men, since 94% of the company's business comes from Pentagon projects, including the Trident submarine, the F- 16 jet fighter and the M-1 tank...
...security at meetings of the General Dynamics board of directors, where top-secret subjects are supposedly discussed without adequate safeguards against leaks. Questions have been raised about how Veliotis, after leaving the company and losing his security clearance, obtained classified photographs of the interior of the newest Trident. Veliotis has turned over the sensitive pictures, which Soviet engineers could use to gauge the Trident's capabilities, to the Justice Department...
...sizable percentage of sales. Free from the competitive discipline of the marketplace, General Dynamics has found that pulling strings at the Pentagon can be more important than making products efficiently. The Pentagon, in turn, is dangerously dependent on General Dynamics. It is the only supplier of the Trident submarine and one of two contractors for the SSN 688 attack...
...head of its Quincy, Mass., shipyard. Rising quickly, he was appointed head of the problem-plagued Electric Boat division in 1977. He fired more than 3,000 workers at the Groton, Conn., yard within weeks of becoming boss, then went on to oversee the building of the first Trident submarine. Veliotis claims that David Lewis, General Dynamics' chairman and chief executive officer, promised to step aside and give him the top spot as a reward for a good performance, but reneged. "That man could charm a snake," says Veliotis, "and he certainly charmed me. He had no intention of stepping...