Tuesday, May 14, 2013
Duck! SAIC deploys Drones...on Orange County!!!
ORANGE COUNTY better duck...SAIC is about to WIN a 74million dollar County.
The street: why does this not surprise the Street?
"Orange County supervisors are set Tuesday to award a large-scale computer contract to a company at the center of one of the largest municipal contract fraud cases in U.S. history."
The street: well they should have now shouldn't have they?
"SAIC’s “best and final offer” submission to Orange County on March 19, 2012, came more than a week after the fraud settlement, but apparently didn’t disclose the massive payout."
The street: 2001 is before Gerard Denault and Carl Bell ran the project? And neither signed contracts?
"SAIC took control of the effort in 2001, and within a few years, two of its top project managers were using a sole-source subcontractor, Technodyne, “as a vehicle for the payment of tens of millions of dollars” in kickbacks to themselves and others, according tothe company’s admission."
The street: Is a County 74 million dollar contract conservative?
“When you venture out of your own lane, there is some uncertainty, a lack of knowledge, and maybe you’re not completely aware of the issues at hand,” the company’s chief operating officer, Stu Shea, told a newspaper. “We’ll be much more conservative in looking at state and local. It’s a hard business that has no money, and we don’t do it well. So why would we do more?”
The street: Just two bad apples spoil the whole dam bunch? and the trial ain't over for SAIC civil suits....nor are the indictments complete
Supervisor John Moorlach said he was comfortable moving forward with the contract, attributing the New York fraud to two “bad apples” among SAIC’s 40,000 employees.
Posted by Suzannah B. Troy artist at 5/14/2013 05:25:00 PM