Word: underbidding
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Dates: during 1950-1959
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Some companies have even descended to wiretapping. After a major company lost an $80 million contract because it was underbid by only $200,000, it ran a phone check, found that its lines were bugged throughout the country. It took the winning bidder to court, wrested the contract away from him. Where wiretapping is illegal, confided one company agent, "there are other ways of getting information. The waiter serving lunch in the man's suite, the telegrams the bell captain might see, the maid who cleans the room, the switchboard operator. These people are paid to keep their eyes...
Needed: a Dock. To get the carrier contract. Wolfson underbid Newport News Shipbuilding, which has built two of the ships, thus acquired experience which enabled it to bid about 6% lower on the second job than on the first. It is, moreover, traditionally the industry's shrewdest bidder. Nevertheless, Wolfson underbid Newport News by $6,000,000-$7,000,000. At that price, experts estimate, Wolfson will lose money. In addition, Wolfson's firm must now invest an estimated $8 million to $10 million in a graving dock just to begin building the sea giant...
...million commitment he had once demanded. Black pressed for open bidding on the contract (to give U.S. firms a chance), to which Nasser agreed after reserving the right to reject any bid he wished, no matter how low. After all, Nasser suggested helpfully, the Russians might choose to underbid everyone else...
...AMERICAN POLICY will be toughened up to double the price edge given some U.S. firms competing with foreign companies for Government contracts. Instead of the previous 6% differential, the Interior Department will award future contracts only to foreign firms that underbid U.S. companies in surplus labor areas by 12% or more. The Defense Department and General Services Administration, which do most of the business with overseas firms, will probably follow the new ground rules...
...received and it met specifications. Under ordinary circumstances, Defense Secretary Charles Wilson would have been required to accept the British bid. English Electric's offer was 16% ($964,000) below that of the lowest U.S. bidder, and U.S. purchasing officers must generally award contracts to foreign firms that underbid U.S. companies by at least...