Posts tagged "Boeing"
Jul 12, 2016

Major beneficiary of U.S. tax dollars trying to sell airliners to Iran for billions

A Boeing 747 of Iran's national airline is seen at Mehrabad International Airport in Tehran / AP

A Boeing 747 of Iran's national airline is seen at Mehrabad International Airport in Tehran / AP


Boeing, the company trying to sell billions worth of commercial airliners to Iran, is one of the largest beneficiaries of U.S. taxpayer-funded government contracts and federal loan guarantees.

The U.S. government is the only force standing between Boeing and a deal to sell roughly 100 aircraft to Iran’s state-owned Iran Air, which would bring as much as $25 billion to the Chicago-based aircraft manufacturer. If the deal goes through, Boeing would become the first large American company to take advantage of the removal of U.S. sanctions on Iran as a result of the nuclear accord finalized one year ago.

The deal is being challenged by congressional lawmakers, who last week approved two measures aimed at preventing Boeing from selling airliners to Iran.

Boeing has received tens of billions from Defense Department contracts over the years, and has consistently been one of the top beneficiaries of U.S. taxpayer dollars. The Boeing Company received $16.6 billion in federal government contracts within the last fiscal year, making it the nation’s second-largest contractor after Lockheed Martin, according to federal procurement data.

Over the past five years Boeing has received over $108 billion from federal contracts. Read Full Article

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Sep 6, 2011

Boeing Co.'s satellite production facility in El Segundo won a $1 billion Air Force contract to build a military communications satellite, the Department of Defense said Thursday.

The contract is for the seventh Wideband Global Satcom, or WGS, satellite, part of a series of spacecraft that are dramatically improving U.S. military communications, from troops in the field to fighter jets overhead.

The DoD announced the contract award in a statement that included contracts to other companies. The statement was sparse on details.

The Boeing contract also includes advance procurement for the eighth WGS satellite, as well as an option for production and launch of WGS No. 9.

The Air Force contract pegged the value at $1,099,800,000.

A Boeing official declined to comment on the contract and referred media questions to the Air Force.

In August 2010, Boeing won a $182 million Air Force contract to begin so-called long-lead procurement and work on WGS No. 7.

The Australian military is also participating in the WGS system.

Boeing's first three WGS satellites are also orbiting the Earth.

The others will be launched in coming years.

This latest contract is large by satellite industry standards, but was not a surprise.

Boeing had been in discussions with the Air Force over the contract for the past several weeks.

Still, the contract award comes as good news for Boeing's El Segundo facility, which this month celebrated the 50th anniversary of its satellite facility.

The El Segundo operation has been buffeted with layoffs over the past decade. Today, the business employs about 6,400 people, about half the number that worked there in the late 1990s.

While not specifically commenting on Thursday's award, Craig Cooning, the Boeing executive in charge of the El Segundo operations, earlier this month said that employment at the satellite business was stable, with no planned layoffs, despite expected Pentagon belt tightening.

By contrast, Northrop Grumman Corp. announced last week that it would cut 500 jobs at its Redondo Beach-based Aerospace Systems sector.

Source: Contra Costa Times

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Feb 15, 2011

Fluor Corporation (NYSE: FLR) announced today that the company has reached a teaming agreement with Boeing (NYSE: BA) to pursue work from the United States Department of Energy (DOE) at its Sandia National Laboratories.

Sandia is a government-owned, contractor-operated facility that is
managed on behalf of the DOE's National Nuclear Security Administration (NNSA). Sandia has major facilities in Albuquerque, N.M., and Livermore, Calif., and an annual operating budget of approximately $2.5 billion. The current contract expires in September 2012.

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Jul 1, 2010

Acquisition will cost defense giant $775 million in cash. The Boeing Co. will acquire Argon ST in an all-cash tender offer and merger for $34.50 per share, or approximately $775 million.

The agreement to acquire the developer of command, control, communications, computers, intelligence, surveillance, and reconnaissance and combat systems advances Boeing's growth strategy and expands the company’s capabilities to address the C4ISR, cyber and intelligence markets, according to a statement issued today by Boeing.

Founded in 1997 and based in Fairfax, Va., Argon ST develops sensors and networks designed to exploit, analyze and deliver information for real-time situational awareness. Read full article.

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