Word: underbidding
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...Army and the other services are forbidden to transport troops by military aircraft in the continental U.S. on the theory that the airlines need the business. The law also permits nonscheduled airlines such as Imperial to bid for service contracts and because the penny-skimping nonskeds can generally underbid the bigger airlines, they usually get the contracts. Eleven of the nation's nonskeds get the bulk of their business from carrying troops...
...Kwame Nkrumah's Ghana, the Ghana National Construction Co.-owned 60% by the government and 40% by the Israeli Federation of Labor-has consistently underbid the onetime top contractor, British-owned Taylor Woodrow. Its latest job: a $5,000,000 international airport at Accra...
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...