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Rickover accuses defense contractors of hiding profits in contracts
Admiral Hyman Rickover testifies before a House committee that defense firms inflate profits on contracts and conceal gains through accounting. He cites audits by GAO and the Defense Contract Audit Agency, noting profit margins in the 1960s and early 1960s, and questions the Defense Department’s oversight.
MENTIONED IN THIS ARTICLE
Washington (Ap
Hyman G. Hickover
Thatiags
House
Defense Department
Rickover
The
Mouse Banking and Currency Committee
Department of Defense
Congress
Navy
Naval Ship Systems’ Command
Division of
Naval Reactors
Atomic Energy Commission
Rickoven
Tone Case Navy
General Accounting Office
Rigkover
GAO
Defense Contract Audit Agency
Defense Contract Audits Agency
Washington
New Caledonia
Rick
Long
South Pacific
Toneworth