- Days left

The debate is on over loss of Boeing contract

boeing logoOn February 29, the loss of a $40 billion contract by Boeing Co. was reported by Peter Cohan on BloggingStocks. Since that time, debate has been quietly rumbling in various spots around the Internet regarding the placement of that contract. Initially, it was expected that Boeing Co. would receive the order but it has instead been awarded to Northrup Grumman and EADS, parent of Airbus, which detractors say puts an unacceptable amount of control and revenue of an American military contract into the hands of a European corporation.

The contact is for the building of refueling tankers which refuel fighter jets while in flight. I have found estimates which claim that the contract value could reach as high as $100 billion dollars, but $40 billion is the media reported estimate. It appears that even though corporate administration of the contract would be taken overseas, at least some of the work would still be performed in America. Additionally, we should consider that major components of these and other military aircraft already originate from foreign manufacturers.

Hard-line protectionists and the union ilk are clamoring for congressional reversal and investigation of the contract assignment, while straight line capitalists and globalists claim that business is business and that all is fair in contract negotiation. So far, I have found no indication that the matter shall be treated by our government as anything other than an ordinary manufacturing contract.

My personal opinion is that it's just a contract, and the United States Air Force has the right to purchase aircraft from whomever they deem fit to provide them in a timely and cost effective manner. Perhaps the matter could be given a cursory review by Congress just to make sure that everything is square, but basically, if there's not an overt reason to suspect some manner of undue manipulation, let's just drop it and let them build some tankers.

What say you?

Increase your money and finance knowledge from home

Intro to Retirement

Get started early planning for your long term future.

View Course »

Introduction to Retirement Funds

Target date funds help you maintain a long term portfolio.

View Course »

TurboTax Articles

Video: Tax Guidelines About Gifting

Note: Some of the content of this video applies only to taxes prepared prior to 2012. It is included here for reference only. Find out the tax guidelines about gifting with help from TurboTax in this video on tax tips.

Video: What are Income Tax Rates?

Note: The content of this video applies only to taxes prepared for 2010. It is included here for reference only. Income tax rates change depending on both the amount of money you make and how you made it. Find out about income tax rates with help from TurboTax in this video on tax tips.

Video: How To Reduce Errors on Your Tax Return

Did you know that errors on your tax return can affect the amount of your tax bill and the amount of time it takes to get a refund? Fortunately, TurboTax helps you avoid errors AND be sure you're getting all the tax deductions and credits you deserve.

Does Your Company Need to File Form 1095-B?

A company is responsible for filing IRS Form 1095-B only if two conditions apply: It offers health coverage to its employees, and it is "self-insured." This means that the company itself pays its employees' medical bills, rather than an insurance company. A company that doesn't meet both conditions won't have to deal with Form 1095-B. Its employees might still receive a 1095-B, but from their insurer, not the employer.

Video: Who Qualifies for an Affordable Care Act Exemption (Obamacare)?

The Affordable Care Act requires all Americans to have health insurance or pay a tax penalty. But, who qualifies for an Affordable Care Act exemption? Find out more about who qualifies for an exemption from the Affordable Care Act tax penalty, how to claim an exemption on your tax return and how the Affordable Care Act may affect your taxes with this video from TurboTax.

Add a Comment

*0 / 3000 Character Maximum