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Keyword: saic

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  • Here Comes the Made-in-China Cadillac

    05/09/2012 9:28:05 AM PDT · by jazusamo · 18 replies
    American Thinker ^ | May 9, 2012 | Howard Richman & Raymond Richman
    It's déjà vu all over again! GM again caves to Chinese pressure. In September it was the electric car. In April it was the Cadillac. The Chinese government made its latest move in December. That's when The Guardian reported that the Chinese government raised its already high 25% tariff upon American-made vehicles, concerned that increasing numbers of big-engine cars were being purchased by Chinese consumers: General Motors faces the greatest impact, almost 22% extra on some sports utility vehicles (SUVs) and other cars with engine capacities above 2.5 litres. Chrysler faces a 15% penalty, while a 2% levy will be...
  • Can Taxpayer-Subsidized Battery Maker A123 Survive?

    03/06/2012 11:41:14 AM PST · by jazusamo · 11 replies
    National Legal & Policy Center ^ | March 6, 2012 | Paul Chesser
    The taxpayer-funded ($279 million) battery supplier that gave big raises and parachutes to its executives shortly after it cut “Green jobs” at its Michigan factories, reported last week it would suffer big losses again for 2011. A123 Systems , whose fortunes were entwined with those of electric vehicle startup manufacturer Fisker Automotive, also announced it would look to China and India in order to survive. A123 also received grants and tax credits from Michigan that could total more than $135 million. The company said it would realize a loss of $257.7 million for last year, compared to the $152.6...
  • GM announces EV development deal with Chinese partner

    01/08/2012 11:57:46 AM PST · by jazusamo · 23 replies
    Gasgoo/Automotive News ^ | January 9, 2012 | MSN Autos
    MSN Autos - General Motors announced in Shanghai today that it will jointly develop an electric vehicle with longtime Chinese partner SAIC -- a move that some U.S. lawmakers have likened to a shakedown. China has built its manufacturing infrastructure around low-cost production and continues to lag behind other developed countries when it comes to developing and implementing cutting-edge automotive technology. For the past 25 years, the Chinese government has required foreign automakers to partner with Chinese companies, which are required to own a stake of at least 50 percent. China also imposes heavy tariffs on imported cars, which some...
  • GM and GE Go All-In for Chinese Subsidies

    09/26/2011 2:22:35 PM PDT · by jazusamo · 17 replies
    National Legal & Policy Center ^ | September 26, 2011 | Paul Chesser
    Professional subsidy-sucking General Motors, which seems content to marinate in its taxpayer "investment" indefinitely, is getting ambitious. No, not in the sense of paying backthe $50 billion U.S. government bailout, or in producing vehicles people actually want to buy, but instead in finding other governments to subsidize its products. Not surprisingly the new partner - in a 50-50 joint venture with the state-run auto industry - is China. And also unsurprisingly, General Electric will join GM in a related partnership in the communist nation. And you probably already guessed the agreements surround the development and sales of electric vehicles....
  • Taxpayer Funding of Chevy Volt to Create Jobs – In China

    09/26/2011 8:56:59 AM PDT · by jazusamo · 12 replies
    National Legal & Policy Center ^ | September 26, 2011 | Mark Modica
    It seems the promise of job creation for taxpayer funded green initiatives, such as the Chevy Volt development, is partially being kept. The only problem is that many of those jobs are going to China. General Motors confirmed last week that it would develop an electric vehicle platform in China. USA Today reports that GM Vice Chairman, Steve Girsky, stated that GM and Chinese auto company, SAIC, will develop a new electric vehicle that would draw upon the Chevy Volt's technology. Girsky also hinted that future Chevy Volts will be built in China in order to qualify for Chinese...
  • General Motors , SAIC agree to develop electric vehicles in China

    09/20/2011 6:36:10 AM PDT · by Clairity · 27 replies
    Economic Times ^ | Sept. 20, 2011 | Reuters
    General Motors Co and its Chinese partner SAIC Motor Corp signed an agreement on Tuesday to develop and build electric vehicles in the world's largest auto market. The agreement finalizes a nonbinding memorandum on cooperation for green-vehicle development SAIC and GM signed last November. At the time, SAIC agreed to buy a 1 percent stake in GM through an initial public offering held to make GM a public company again and cut the U.S. Treasury's stake in the company. The Shanghai GM joint venture builds Chevy, Buick and Cadillac vehicles in China.
  • NJ couple scammed $460M from CityTime project: court papers (New York)

    06/21/2011 3:18:11 AM PDT · by lowbridge · 19 replies
    NY Post ^ | June 20, 2011 | BRUCE GOLDING
    The husband-and-wife owners of a New Jersey company were charged today with raking in more than $460 million in crooked cash through the scandal-scarred CityTime payroll project. Court papers say Reddy and Dr. Padma Allen secured a lucrative, no-bid subcontract that made it look like their firm, TechnoDyne, was was "a successful and fast-growing company." But the "engine of its growth" was actually an over-billing scam in which the Reddys paid millions in kickbacks and hired a bevy of crooked sub-subcontractors, according to an indictment unsealed in Manhattan federal court. Authorities say the brazen corruption was part of a "massive...
  • China's SAIC buys nearly 1 percent stake in GM

    11/18/2010 11:30:20 AM PST · by Nachum · 5 replies
    My Way News ^ | 11/18/10 | ELAINE KURTENBACH
    SHANGHAI (AP) - General Motors Co. (GM)'s main joint venture partner in China, SAIC Motor Corp., says it has bought a nearly 1 percent stake in the American automaker through its initial public offering. SAIC, which is owned by the Shanghai city government, said Thursday it paid $33 a share for about 0.97 percent of GM at a total cost of nearly $500 million. GM's stock offer is worth potentially $23 billion and will end the U.S. government's role as a majority shareholder after the automaker entered bankruptcy protection in June 2009. The long-standing partnership between GM and SAIC -...
  • IP Rights Fairy Tale

    08/30/2008 7:26:53 AM PDT · by MichiganMan · 15 replies · 228+ views
    MaximumPC Magazine ^ | 08/27/08 | Quinn Norton
    Not very long ago, in a land not at all far away, there was a little company called Blueport. It held the copyright on a piece of software that the US Air Force liked using for logistics. Blueport protected its software with a time bomb—a bit of code that made the software self-destruct when the license expired. That date was approaching, and Blueport wanted to negotiate a new license with the USAF—and you know, get paid. Instead, it got a bit of the ol’ shock and awe. The Air Force not only didn’t pay up, it paid big contractor SAIC...
  • SAIC Begins Work On $6.2 Billion Pact (Contract was protested by A Kuwaiti Co)

    08/24/2007 7:09:23 AM PDT · by RDTF · 1 replies · 311+ views
    The Baltimore Sun ^ | August 24, 2007 | Tricia Bishop
    SAIC Inc. began work on supply management of chemicals, packaged petroleum, oils and lubricants for the Defense Department under a contract valued at as much as $6.2 billion after a protest of the award was denied. SAIC said yesterday that it was informed Aug. 15 that work may continue following a ruling on the challenge by the Government Accountability Office. The order was awarded May 2, and a protest was lodged by PWC Logistics Services Inc., a Kuwait-based global logistics company, GAO attorney Michael Golden said today. SAIC, a military contractor specializing in computer services, has had the contract with...
  • FAA OK's SAIC's SKYBUS UAS

    08/07/2007 1:24:12 PM PDT · by nypokerface · 11 replies · 1,014+ views
    UPI ^ | 08/07/07
    SAN DIEGO, Aug. 7 (UPI) -- Science Applications International Corp. said Monday it has received U.S. Federal Aviation Administration approval for its SKYBUS 30K Airship UAS. The SKYBUS 30K Airship Unmanned Aerial System "was recently granted a Federal Aviation Administration U.S. Experimental Airworthiness Certificate for Unmanned Airships," SAIC said in a statement. SAIC said it had functioned as lead system integrator for the U.S. Naval Air Systems Command and that it had teamed up with Telford Aviation Services of Bangor, Maine, "to develop and test the prototype at the Loring Unmanned Aircraft Systems Test Center in Limestone, Maine." "The prototype...
  • The FBI's Upgrade That Wasn't (Gov't Mismanagement Alert)

    08/18/2006 7:13:39 AM PDT · by Small-L · 26 replies · 790+ views
    Washington Post ^ | August 18, 2006 | Dan Eggen and Griff Witte
    It was late 2003, and a contractor, Science Applications International Corp. (SAIC), had spent months writing 730,000 lines of computer code for the Virtual Case File (VCF), a networked system for tracking criminal cases that was designed to replace the bureau's antiquated paper files and, finally, shove J. Edgar Hoover's FBI into the 21st century.he warned FBI Director Robert S. Mueller III that the $170 million system was in serious trouble. A year later, it was dead. The nation's premier law enforcement and counterterrorism agency, burdened with one of the government's most archaic computer systems, would have to start from...
  • China's SAIC Motor Corp. planning to export own-brand vehicles

    04/10/2006 10:40:16 PM PDT · by HAL9000 · 8 replies · 683+ views
    Associated Press ^ | April 10, 2006
    SHANGHAI (AP) - SAIC Motor Corp., a partner of both Volkswagen and General Motors in China, is gearing up to begin making its own brand of cars, aiming to begin exports to major markets including Europe by 2007. The company recently invested 3.68 billion yuan (US$460 million; euro377 million) in a new unit, SAIC Motor Manufacturing Co., to handle its own-brand production. It aims for an annual capacity of 600,000 SAIC-brand vehicles, including both cars and commercial vehicles, by 2010, said Zhu Xiangjun, a SAIC spokeswoman. Most of the cars now made by SAIC are produced in its joint...
  • System Error (Re NSA and the $1.2 Billion Trailblazer Project)

    01/29/2006 8:42:06 PM PST · by phil_t · 6 replies · 549+ views
    Baltimore Sun ^ | 29 January 2006 | Siobhan Gorman
    A Baltimore Sun Special Report System error The NSA has spent six years and hundreds of millions of dollars trying to kick-start a program, intended to help protect the United States against terrorism, that many experts say was doomed from the start. Originally published January 29, 2006 A program that was supposed to help the National Security Agency pluck out electronic data crucial to the nation's safety is not up and running more than six years and $1.2 billion after it was launched, according to current and former government officials. The classified project, code-named Trailblazer, was promoted as the...
  • SAIC announces IPO

    09/01/2005 6:06:51 AM PDT · by elc · 5 replies · 788+ views
    UPDATE 1-SAIC files with SEC for $1.73 billion IPO Thu Sep 1, 2005 7:53 AM ET (Adds financials, use of proceeds, stock symbol) WASHINGTON, Sept 1 (Reuters) - SAIC Inc., which provides scientific, engineering, systems integration and technical services to the U.S. military and government agencies, filed with regulators on Thursday to raise up to $1.73 billion in an initial public offering of common stock. The San Diego, California-based company said in a preliminary prospectus filed with the U.S. Securities and Exchange Commission that Morgan Stanley and Bear Stearns & Co. are underwriting the offering. The filing did not reveal...
  • Raytheon Focuses Radar Expertise on Ground Targets in Motion

    07/23/2005 3:45:09 PM PDT · by Righty_McRight · 8 replies · 785+ views
    Yahoo Business News ^ | July 21, 2005
    EL SEGUNDO, Calif., July 21, 2005 /PRNewswire-FirstCall/ -- Seeking more protection for ground forces without enhancing risk to aviators, the U.S. Air Force has engaged Raytheon Company (NYSE: RTN - News), a leader in radar and data exploitation technology, to devise a way for aircraft, from a safe distance, to detect, track and target hostile forces in motion on the ground. "The U.S. owns the airspace but today's conflicts quickly move to the ground," Nick Uros, vice president for Raytheon's Advanced Concepts and Technology group, said. "We want to keep the war fighter in the air and on the ground...
  • CA: Schwarzenegger takes reform agenda on the road to San Diego

    04/11/2005 7:58:18 PM PDT · by NormsRevenge · 7 replies · 320+ views
    Bakersfield Californian ^ | 4/11/05 | Seth Hettena - AP
    SAN DIEGO (AP) - Seeking to regain momentum, Gov. Arnold Schwarzenegger took his reform agenda on the road Monday, leaving any mention of last week's retreat on his plan to fix the state's pension system behind in the capital. His remarks in San Diego contrasted with Thursday's announcement from Schwarzenegger that he would delay his proposed ballot initiative to privatize much of California's public pension system from November until June 2006. The governor said "misconceptions" by firefighters and police officers that they could lose death and disability benefits had overwhelmed the issue. On Monday, Schwarzenegger spoke before 400 employees at...
  • MG Rover calls in receivers as China deal falls through

    04/07/2005 4:13:04 PM PDT · by HAL9000 · 20 replies · 869+ views
    Associated Press | April 7, 2005
    LONDON (AP) - Cash-strapped car manufacturer MG Rover Group is going into financial administration after a proposed takeover deal with a Chinese firm fell through, the British government said Thursday night.  "MG Rover has announced that their board has decided to call in the receivers,'' Trade and Industry Secretary Patricia Hewitt said.  Rover said it had asked PriceWaterhouseCoopers to "accept engagement to advise the board of directors on the current position at the company.''  Earlier Thursday, Rover - the last major British-owned carmaker - suspended production at its British factory and called on the government to firm up its...
  • FCS Team Issues Final Requests for Proposals for Class II and III Unmanned Aerial Vehicles

    03/22/2005 12:21:52 PM PST · by Righty_McRight · 6 replies · 389+ views
    Boeing ^ | March 22, 2005 | Staff
    ST LOUIS, March 22, 2005 – Boeing (NYSE: BA) and Science Applications International Corporation (SAIC), as the Lead Systems Integrator team for the U.S. Army's Future Combat Systems (FCS) program, recently released separate Requests for Proposals for development of FCS Class II and III Unmanned Aerial Vehicle (UAV) systems. Industry participants will have 30 days in which to respond with contract awards anticipated in early August. A phased acquisition approach will be implemented for Class II and III development efforts, working collaboratively with the Defense Advanced Research Projects Agency (DARPA). Multiple contracts will be awarded in early August 2005 for...
  • Break-In At SAIC Risks ID Theft (Former Military and Intelligence officials)

    Computers Held Personal Data on Employee-Owners By Griff Witte Washington Post Staff Writer Saturday, February 12, 2005; Page E01 Some of the nation's most influential former military and intelligence officials have been informed in recent days that they are at risk of identity theft after a break-in at a major government contractor netted computers containing the Social Security numbers and other personal information about tens of thousands of past and present company employees. The contractor, employee-owned Science Applications International Corp. of San Diego, handles sensitive government contracts, including many in information security.