Title: Lockheed Martin: Corporate Rap Sheet | Corporate Research Project
Headings: Lockheed Martin: Corporate Rap Sheet
Lockheed Martin: Corporate Rap Sheet
Lockheed Martin

Content: The company called the overbilling “inadvertent.” A February 20008 U.S. Government Accountability Office report singled out Lockheed’s F-22A fighter plane in a review of weapons systems plagued by large cost overruns, delays and quality problems. ( The following year the Senate voted to terminate the F-22 program.) In June 2008 the Project On Government Oversight made public a 2007 report by the Defense Contract Management Agency that found Lockheed failed to follow 19 of 32 Pentagon guidelines on tracking and managing costs on major weapons programs. In August 2008 Lockheed agreed to pay $4 million to settle charges that it failed to get permission to sell missiles to the United Arab Emirates and that the company revealed classified information during negotiations with the Persian Gulf nation. In 2009 the Pentagon said that Lockheed would have to pay part of the huge cost overruns on the delay-ridden F-35 fighter jet project. In December 2010 Lockheed agreed to pay $10.28 million to resolve federal charges that it overbilled the Air Force and the Navy for the C-27J tactical aircraft. In January 2011 Lockheed agreed to pay $2 million to settle allegations brought in a whistleblower case that it and SAIC conspired to obtain non-public information in connection with a contract competition for work at the Naval Oceanographic Office Major Shared Resource Center in Mississippi. In March 2012 Lockheed agreed to pay $15.85 million to settle allegations that it overcharged the Pentagon for tools used on military aircraft programs. Bribery and Questionable Payments
During the mid-1970s, prior to its merger with Martin Marietta, Lockheed Corp. was embroiled in a high-profile controversy over payoffs the company had made to foreign officials, including the Japanese prime minister, Prince Bernhard of the Netherlands and a cabinet official in Italy.