Force Protection, a manufacturer of ballistic- and blast-protected wheeled vehicles for U.S. military, reported a profit of $19.9 million for the third quarter of 2008 ended September 30, compared to a net loss of $(799,000) in the prior-year quarter. Chief Executive Officer Michael Moody credited the earnings’ turnaround, in part, to growth in spare parts and services revenues....
Government Industry Archive
November 2008
There have been a flurry of articles and commentary over the last few weeks about the future of the US Defense Budget and Contractors. The consensus is that there will be a tightening of the budget in the new administration and that will lead to cuts in programs by DoD. See stories at Reuters, The Washington Post, and BloggingStocks.com for example. While it is certainly clear that the Obama...
Neel Kashkari, the US Treasury’s acting Assistant Secretary for Financial Stability, made some remarks about how the Department plans to run the Trouble Asset Relief Program (TARP). This is the $700 B bill that Congress passed to help the government bring stability to the financial and credit markets. The Wall Street Journal published his prepared statement. One of the interesting...
The State of Florida gave ACS a contract to provide medical insurance and program management software. MarketWatch.com has the press release. With increasing pressure on the Federal and State governments to provide more health care to an aging population at as low a cost as possible there should be more attempts to gain such efficiencies in the future. The five year contract worth over $40...
The owner of Michael Bianco Inc., a Massachusetts based apparel manufacturer, was convicted of hiring illegal alien workers and providing them with false Social Security Numbers (SSN). The Pembroke Express has the story. Francesco Insolia founded the company several years ago to make handbags. The company grew rapidly over the last few years as it received some contracts from the Department...
A three judge panel of the US Court of Appeals ruled that the Department of Defense’s policy of setting aside 5% of contracts for disadvantage, minority owned companies was unconstitutional. Newsday.com reports here that the court stated the Department failed to prove discrimination against these minority contractors. The lawsuit had been brought by a company that was the low bidder but...
The United States Customs and Immigration Service (USCIS), an organization within the Department of Homeland Security, awarded a five year contract to IBM for modernizing their system to process immigration requests. Federal Computer Weekly reports that the contract is worth almost $500 M. The program will be paid for by the fees that applicants pay as part of the process. The current system...
MarketWatch.com reports that the US Department of Agriculture (USDA) contracted with CRI to provide homeland security support to their various offices. CRI currently has a contract providing this kind of support, and the new one year base plus five option years contract is worth about $50 M. The USDA is like many other government agencies in that they do have specific tasks related to homeland...
This in the Montgomery Advertiser is a fairly typical article about the award of a defense contract. Northrop Grumman has won a contract to support an Army system, the Forward Area Air Defense Command & Control/Counter-Rocket and Mortar (FAAD C2 C-RAM). The contract is considered “Huntsville” property as the company’s group that got the contract is located there, and...
In a follow up to yesterday’s post about the competition between Deltek and Microsoft for the ERP market involving government contractors, Force 5, a large, minority owned IT provider to Defense, Federal and other government agencies announced that they are buying Microsoft products to manage their payroll and timekeeping. The press release is available at The Earth Times. Force 5...
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BNET Government provides daily industry trends and global news coverage with insights for managers and executives within the world wide business of government contracting. We analyze new and interesting contract awards, government policy changes, and the trends in procurements and spending. There will also be discussions of the sector with a focus on small and innovative companies and business lines. The world's governments spend billions each year on a variety of hardware and services and the site will discuss how the money is being allocated.