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Gen. Dynamics Corp. / Def. Contracts #538280

NBC Evening News for Wednesday, Jul 25, 1984
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(Studio) General Dynamics Corporation reported allegedly purposely underbidding on defense contracts in order to charge government for cost overruns.
REPORTER: John Palmer

(DC) Cost overruns paid General Dynamics in 1978 despite Pentagon advisers' assessment of chgs. explained; roles of then-Navy Secretary Edward Hidalgo in negotiating overruns with aid of General Dynamics reviewed. Memo discussing situation and discovered by Congress investigators quoted on screen. [Senator William PROXMIRE - questions honesty of exaggerated claims.] [Navy attorney Eugene PAULISCH - claims bills are traditionally inflated.] Hidalgo recalled becoming Navy Secretary prior to accepting position as paid consultant with General Dynamics; estimate cost overruns so far in General Dynamics contract noted.
REPORTER: John Hart

Reporter(s):
Hart, John;
Palmer, John
Duration:
00:02:10

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