Northrop drops out of tanker competition
March 8, 2010 (WASHINGTON) -- Northrop Grumman Corp. says it won't compete against Boeing Co. for a $35 billion contract to build refueling tankers for the Air Force because it doesn't think it can win.
Northrop's chief executive officer and president, Wes Bush, said Monday that the Pentagon guidelines for the program favor Boeing's smaller refueling tanker and does not provide what Bush calls "adequate value recognition" of the added capability of a larger tanker.
That, according to Bush, precludes Northrop from any competitive opportunity.
The Obama administration had said such sole-source contracts aren't a good deal for the taxpayer. But industry insiders say there's no other company poised to meet the Air Force's guidelines for the program.
- Van driver dies after fiery CTA bus crash 55 min ago
- 2 officers struck by car in West Side alley
- Chicago Bulls fall to Wizards 101-99 in OT 31 min ago
- ABC7 First Alert Weather Forecast 19 min ago
- Chase preceded Roseland bus stop crash that injured 5
- 1957 murder convict Jack McCullough files appeal 2 min ago
- New storm warning systems help save lives
- Illinois mumps outbreak puts health officials on alert
- CFD rescues elderly man from Roseland house fire
- Carol Stream man found guilty of child sex abuse
- Missing Aurora teen mom, baby girl found safe
- Pitbull added to Illinois State Fair lineup
- Car crashes into Richton Park currency exchange
- abcnews: Officer Caught Tripping Kids at Soccer Game
- Spring Tech Gadgets
23 min ago
Most Viewed StoriesMost Viewed Photos