Another bungled and mismanaged project (this time the US Coast Guard modernization project known as Deepwater) .. the estimated cost was 17 billion which has now ballooned to 24 billion. And that's not the major problem at all ...the problem is that nothing has been delivered ! And need I mention the obvious ?.. its all taxpayer money ...as usual ...with virtually no oversight.
In a stunning display of responsibility delegation, the Coast Guard delegated virtually everything to the usual Military Industrial Complex suspects .. Lockheed Martin Corp. and Northrop Grumman Corp (need I say they're two of the worlds most profitable defense contractors) .. who did everything in their power to gobble up taxpayer money and produce NOTHING. You would think someone would get reprimanded for this kind of illegal profit-mongering, but don't hold your breath ....
"Four years into the Deepwater project, the Coast Guard, according to its original plan, was supposed to have 26 new or rebuilt ships, 12 new planes and 8 unmanned vehicles, but none are available" (NYT)
See Washington Post article ... Costly Fleet Update Falters
Another WaPo article .. Coast Guard Finds Flaws In Converted Patrol Boats
New York Times article ... Billions Later, Plan to Remake the Coast Guard Fleet Stumbles
For fun, Here is the contract announcement way back in 2002 as described in Jane's Defence Weekly
And finally ... here is a Deepwater Update from the diabolical Defense Industrial Daily ("Military Purchasing News for Defense Procurement Managers and Contractors")
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