$1.2071 TRILLION IN FEDERAL CONTRACTS AWARDED TO THE FORTUNE 100 SINCE 2000
The federal government contracts with private enterprise across the entire continuum of public service. Competitively bid contracts can bring in “best-in-class” services to fill needs. However, many times the government’s incumbent contracts are “amended and/or extended” and the corresponding lack of competition by circumventing the procurement process can result in waste of taxpayer dollars.
We advocate the frequent use of real-time “reverse auctions” to transparently bid-down the cost of government services to qualified bidders.
Among our findings:
The Top Five Fortune 100 in Contracts:
1. Lockheed Martin ($392.039 billion),
2. Boeing ($269.623 billion)
3. General Dynamics ($170.469 billion),
4. United Technologies ($73.248 billion),
5. General Electric ($35.875 billion)
Over two-thirds ($832 billion) of Fortune 100 contracts went to three defense contractors: General Dynamics, Boeing and Lockheed Martin.
Plains All American Pipeline was the only company in Fortune 100 receiving ZERO federal monies: searches for its subsidiaries and acquisitions also zeroed.
General Electric received $35.8 billion- an amount equal to 7X more than the $5 billion GE 2010 profit.
Coke is it, for the feds. Coca-Cola ($1.0642 billion) beat PepsiCo ($436 million)
Kraft Foods received $1.4 billion in Dept. of Defense Commissary food contracts
Google received only $1.4 million while Microsoft gleaned $900 million and Apple received $29 million in contracts.
Built Tough - Ford ($3.4 billion) out drove General Motors ($2.3 billion).
Home Depot received $36 million in contracts ahead of Lowe’s at $2.8 million.
The world on time- FedEx ($14 billion) out-delivered UPS ($3.042 billion)
Berkshire Hathaway received $2.4 billion in contracts, but no monies in grants, loans, direct payments, or insurance.
IBM ($18 billion) out-sold Dell ($12 billion), but Hewlett-Packard ($29 billion) beat them both.
AT&T ($8.4 billion) out-contracted Verizon ($7 billion). Both companies have a more robust product suite than Comcast ($38 million).
Prudential scored $1.185 billion, MetLife ($188 million) and Allstate, State Farm, New York Life and Mass Mutual all had very low dollar amounts.
Somehow, Walt Disney received $19 million in federal contracts.
Phillip Morris ($1.246 million) received mostly “personal service” contracts
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General Electric: General Electric (GE) ($35.8 billion in federal contracts since 2000) has seen its share of federal contracts under the Obama Administration cut by 29.2%. In the last year of the Bush Administration, GE had $3.835 billion in contracts and by 2012 GE contracts amounts were the lowest since 2005- only $2.712 billion. Despite this, GE has grown their federal contract awards 58% since 2000. That’s nearly double inflation.