Pentagon Awards $1.45 Billion in Engineering Contracts

Multiple construction companies win awards, among them AECOM, LEIDOS, and Jacobs Engineering.

Apr 16, 2014 at 10:15AM

The Department of Defense awarded 13 defense contracts Tuesday, worth $2.79 billion in combined value.

The biggest of these, a $950 million indefinite-delivery/indefinite-quantity contract to perform architect-engineering services to support military construction, military family housing, and sustainment, restoration and modernization programs for the U.S. Air Force around the world, will be divided among four privately held firms and two publicly traded companies: AECOM Technology (NYSE:ACM) and LEIDOS (NYSE:LDOS).

The six companies will compete against each other to win task orders from the Air Force, funded out of the $950 million umbrella amount. Work on these projects is funded by this contract through April 2021.

Separately, LEIDOS won a $7.3 million contract modification from the Pentagon's Washington Headquarters Services to provide mission support services for courtroom and case preparation work. Services will include linguistic, translation, and transcription support work, plus the provision of court reporters, and expert witnesses for commission hearings. This contract will run through April 14, 2016.

Separately, Jacobs Engineering (NYSE:JEC) and two other companies were awarded places in one of the day's other large contracts. Worth $500 million in value, this indefinite-delivery/indefinite-quantity contract also concerns architect-engineering services at various government installations within the United States and abroad. This contract, too, will run through April 2021 and will involve competitive bidding among Jacobs and the two other companies winning places under the contract.


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4 in 5 Americans Are Ignoring Buffett's Warning

Don't be one of them.

Jun 12, 2015 at 5:01PM

Admitting fear is difficult.

So you can imagine how shocked I was to find out Warren Buffett recently told a select number of investors about the cutting-edge technology that's keeping him awake at night.

This past May, The Motley Fool sent 8 of its best stock analysts to Omaha, Nebraska to attend the Berkshire Hathaway annual shareholder meeting. CEO Warren Buffett and Vice Chairman Charlie Munger fielded questions for nearly 6 hours.
The catch was: Attendees weren't allowed to record any of it. No audio. No video. 

Our team of analysts wrote down every single word Buffett and Munger uttered. Over 16,000 words. But only two words stood out to me as I read the detailed transcript of the event: "Real threat."

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KPMG advises we're "on the cusp of revolutionary change" coming much "sooner than you think."

Even one legendary MIT professor had to recant his position that the technology was "beyond the capability of computer science." (He recently confessed to The Wall Street Journal that he's now a believer and amazed "how quickly this technology caught on.")

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David Hanson owns shares of Berkshire Hathaway and American Express. The Motley Fool recommends and owns shares of Berkshire Hathaway, Google, and Coca-Cola.We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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