It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
According to a report obtained by Bloomberg News,“Boeing significantly overstated estimates” of new components necessary for the CH-47F Chinook helicopters and “primarily installed used parts instead” under a $4.4 billion contract awarded in 2008. Instead of delivering the new pieces it told the Army were necessary, Boeing restored parts from older aircraft and installed those in their place.
Zaphod58
reply to post by amraks
A Boeing exec, and the heads of three smaller companies were recently caught defrauding Boeing by overestimating contracts. This could be tied to that. With the problems Boeing has had in the past, I'm almost not surprised by this.
The military doesn't make any money off this. Boeing would keep any extra profit made by using the older parts (Congress doesn't make any money off it either).edit on 10/16/2013 by Zaphod58 because: (no reason given)
kick·back
ˈkikˌbak
noun
noun: kick-back
1.
a sudden forceful recoil.
"the kickback from the gun punches your shoulder"
synonyms: recoil, kick, rebound More
2.
informal
a payment made to someone who has facilitated a transaction or appointment, esp. illicitly.
amraks
Boeing caught selling used parts as new to Pentagon
According to a report obtained by Bloomberg News,“Boeing significantly overstated estimates” of new components necessary for the CH-47F Chinook helicopters and “primarily installed used parts instead” under a $4.4 billion contract awarded in 2008. Instead of delivering the new pieces it told the Army were necessary, Boeing restored parts from older aircraft and installed those in their place.
Source Here
I wonder how much money the congress and military made.