Wednesday, March 19, 2014

Your Tax Dollars at Work


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

© 2014 | A project of American Transparency 501(c)3 All Rights Reserved

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.

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