From AviationWeek.com 2006 May

The Justice Department has reached an agreement with Boeing to pay $615 million in penalties for its military acquisition blunders in exchange for not pursuing criminal charges against the company.

The matter involves investigations in Virginia of Boeing's hiring of former U.S. Air Force acquisition official Darleen Druyun in 2002; in California of the company's possession of Lockheed Martin information about launch service contracts with the Air Force under the Evolved Expendable Launch Vehicle (EELV) program; and with a task order with NASA for 19 missions under its launch services contract.

The Project On Government Oversight says its research shows the settlement to be the largest financial penalty imposed against a defense contractor. POGO officials say the agreement is a sign that the government is planning strong deterrents against future contracting violations and will be relying less on self-policing by contractors.

"The amount was high, but not as high as some had suggested - up to $1 billion," says Paul Nisbet of JSA Research. "That's 10-15 percent of the company's cash flow" and a drop of about 59 cents a share in second quarter earnings to $2.81 a share, he estimates.

The decision comes just in time for Boeing to enter the new U.S. Air Force tanker competition with a clean slate, and for the government to proceed with buying space launches under the joint Boeing/Lockheed Martin United Launch alliance EELV program.

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Topics of Interest

CLEAN SLATE? In the wake of the U.S. Justice Dept.'s settlement with Boeing, the space side of Lockheed Martin is left with a weakened civil case against its rival for using stolen documents during a...

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The Justice Department is still looking into a retired Air Force or Air National Guard general-level officer who negotiated employment with the Boeing Co., possibly while still in uniform, despite the...

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