Pentagon Awards $449.5 Million in Defense Contracts

GE, Raytheon, Boeing, Lockheed Martin, and Great Lakes Dredge & Dock win contracts.

May 13, 2014 at 9:37AM

The Department of Defense awarded 10 defense contracts in its Monday evening announcement of contract awards. The total value of contracts awarded was $449.5 million.

Among the publicly traded defense companies winning contracts:

  • General Electric (NYSE:GE) won a $220.7 million ceiling-priced indefinite-delivery/indefinite-quantity contract to perform rework and testing, receiving, packing, shipping, and reporting services on T700-GE-401 and T700-GE-401C turbo shaft engines, cold section modules, and power turbine modules in support of H-60, H-1, AH-1W, and AH-1Z helicopters for the U.S. Navy and Marine Corps through May 2019.
  • Raytheon (NYSE:RTN) was awarded a $50.1 million option exercise to supply the U.S. Navy with 16 APY-10 radar kits to be installed aboard full-rate initial production Lot I P-8A Poseidon maritime patrol aircraft. Raytheon will also perform the kits' installations; provide checkout technical support, configuration management, reliability, and maintainability failure reporting and take corrective action as needed; and undertake other related services. Work on this contract will continue through November 2016.
  • Boeing (NYSE:BA) was awarded a firm-fixed-price delivery order worth up $42.5 million, with the final value to be determined, to supply the U.S. Air Force with an unspecified quantity of F-15 vertical stabilizers through March 2019.
  • Great Lakes Dredge & Dock (NASDAQ:GLDD) won a $17.7 million firm-fixed-price contract to perform shore protection work against hurricane and storm damage at Port Monmouth, New Jersey, for the U.S. Army Corps of Engineers. This contract will run through June 26, 2015.
  • Lockheed Martin (NYSE:LMT) was awarded a $7.2 million contract modification paying for work on a "radar interoperability issue" affecting F-16 aircraft produced for Pakistan and Thailand. This modification raises the value of Lockheed's underlying F-16 supply contract past $430 million. Work on this contract should now be complete by April 30, 2016. 

Rich Smith has no position in any stocks mentioned. The Motley Fool owns shares of General Electric, Lockheed Martin, and Raytheon. Try any of our Foolish newsletter services free for 30 days. 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.

A Financial Plan on an Index Card

Keeping it simple.

Aug 7, 2015 at 11:26AM

Two years ago, University of Chicago professor Harold Pollack wrote his entire financial plan on an index card.

It blew up. People loved the idea. Financial advice is often intentionally complicated. Obscurity lets advisors charge higher fees. But the most important parts are painfully simple. Here's how Pollack put it:

The card came out of chat I had regarding what I view as the financial industry's basic dilemma: The best investment advice fits on an index card. A commenter asked for the actual index card. Although I was originally speaking in metaphor, I grabbed a pen and one of my daughter's note cards, scribbled this out in maybe three minutes, snapped a picture with my iPhone, and the rest was history.

More advisors and investors caught onto the idea and started writing their own financial plans on a single index card.

I love the exercise, because it makes you think about what's important and forces you to be succinct.

So, here's my index-card financial plan:


Everything else is details. 

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