Aug 7 1998
From The Space Library
NASA announced that Boeing Company's cost overruns for the International Space Station (ISS) had increased by about 30 percent to US$783 million, and that NASA intended to "further cut the company's bonus fees." In reporting to NASA the latest cost overruns, Boeing had explained that "continued production and testing and the need to set aside money for contingencies" had caused the latest increase, US$183 million more than the US$600 million previously estimated. Under the terms of NASA's cost-plus-fee contract, Boeing would lose an additional US$27.5 million in bonus fees, besides the US$78 million reduction that NASA had imposed.
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