Defense Chief Gates Seeks to Tie U.S. Contractors' Profit to Cost Controls -- Bloomberg
Defense contractors can increase profits if they reduce costs on major weapons programs such as the Lockheed Martin Corp. F-35 fighter under an initiative unveiled today by Defense Secretary Robert Gates.
The program calls for the Pentagon to potentially raise payments for meeting contractual targets, increase the use of fixed-priced contracts that award more profit if programs come in under budget and reward contractors for reducing supplier costs.
“Higher performance should naturally lead to higher reward,” Gates said at Pentagon news briefing.
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More News On The Pentagon's Attempts To Increase Efficiency In Contract Costs And Delivery
Pentagon Changes Rules To Cut Cost of Weapons -- New York Times
Pentagon looks to save billions with smarter spending -- Christian Science Monitor
Pentagon launches drive to "do more without more" -- Reuters
Pentagon unveils markers for cutting defense costs -- The Hill
Pentagon vows to cut waste in contracts -- AFP
Pentagon starts to bargain hunt -- AP
Gates starts outlining Pentagon cuts -- Washington Post
New rules aim to rein in Defense spending -- Government Executive
Pentagon cuts target F-35 program -- ABC News (Australia)
The Party Is Over - Gates Unveils New Buying Rules -- National Defense
FACTBOX-Pentagon changes aim to boost productivity -- Reuters
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