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GAO urges tighter controls on defense profits and costs
A 2 million dollar federal study, ordered by Congress, says defense industry profits need tighter government guidelines and cost cutting. Comptroller General Staats defends the final report, Sen. Proxmire plans hearings, Pentagon counters that defense profits are not excessive. The study notes profits as a percentage of sales are lower in defense than in commercial work.
MENTIONED IN THIS ARTICLE
Washington
Pentagon
Congress
Elmer B. Staats
Ee Ig
GAO
Staats
William Proxmire
D-Wis
Senate House Economic Committee