Nov 18 1992
From The Space Library
Lockheed Corporation's Space Operations Company unit won the competition for a $200-million-a-year contract to manage the Kennedy Space Center in Cocoa Beach, Florida. NASA said the contract would run for an initial period of four years, plus three two-year options, for a total potential contract period of 10 years. Its estimated value over the 10-year period was $1.9 billion. (WSJ, Nov 19/92; W Post, Nov 19/92; Fla Today, Nov 19/92)
A recent General Accounting Office comprehensive audit of NASA's financial management charged that NASA's internal controls and financial management systems had failed to ensure efficient expenditure of tax-payers' money. According to the report, NASA's fiscal 1991 year-end reports contained more than $500 million in errors. (Antelope Valley Press, Nov 18/92)
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