Pentagon Makes an $18 Million Typo

In a slow day at the Pentagon, the Department of Defense issued only four small contracts Wednesday. Of these, the only publicly traded company scoring contract wins was Raytheon -- and it got half the contracts on offer:

  • a $14 million firm-fixed price modification to a previously awarded Air Force contract to supply "modified control sections" for 350 production Lot 2 AGM-88 High-Speed Anti-Radiation (HARM) missiles by Sept. 30, 2015.
  • and an $8 million Basic Ordering Agreement to do repairs on AN/AAS-53 common sensor payloads (hi-tech cameras used on warplanes) for the U.S. Navy by June 2014.

Aside from those contracts, the Pentagon also earmarked $11.6 million in funding for the Royal Jordanian Air Academy in Amman, Jordan, to teach English and provide technical training to Iraqi Air Force students. And in the day's headline news, the department also noted that Monday's controversial decision to pay Russia's Rosoboronexport what was announced as $572.2 million to supply Mi-17 transport helicopters to Afghanistan was off by several million dollars. The Pentagon clarified Wednesday that the value of this contract is only $553.8 million.

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The article Pentagon Makes an $18 Million Typo originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of Raytheon. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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