[CPEO-MEF] Lockheed owes DOE $110 million for Idaho project

[Lenny Siegel <lsiegel@cpeo.org>]

Lockheed Must Pay for Failed Dump Cleanup 
Firm to Take $110 Million Charge 

By Renae Merle
Washington Post 
November 2, 2004


Lockheed Martin Corp. said yesterday it will take a $110 million charge
in the fourth quarter after losing a six-year court battle over a failed
contract with the Energy Department for cleanup of a radioactive-waste
dump in Idaho. 

A U.S. District Court in Idaho ruled Bethesda-based Lockheed owes the
government $110 million after its contract to clean up Pit 9, a one-acre
site in Idaho Falls, fell years behind schedule and millions of dollars
over budget. The field contained 55-gallon drums filled with radioactive
waste, including rags, gloves and sludge used in making nuclear weapons. 

The ruling was a stinging defeat for Lockheed, which claimed it spent
nearly $300 million on the cleanup, though it was paid only $54 million.
Lockheed had planned to use the project as a catapult to capture
billions of work in nuclear waste cleanup, according to the court decision.

...

For the entire article, see
http://www.washingtonpost.com/wp-dyn/articles/A17091-2004Nov1.html


-- 


Lenny Siegel
Director, Center for Public Environmental Oversight
c/o PSC, 278-A Hope St., Mountain View, CA 94041
Voice: 650/961-8918 or 650/969-1545
Fax: 650/961-8918
<lsiegel@cpeo.org>
http://www.cpeo.org
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