Exclusive: Air Force suspends fee payments to landlord Balfour Beatty following Reuters report [Reuters (UK)]
BALFOUR BEATTY S/ADR (BAFYY)
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Source: Reuters
Exclusive: Air Force suspends fee payments to landlord Balfour Beatty following Reuters report - Reuters 6 Min Read NEW YORK (Reuters) - The U.S. Air Force has suspended paying incentive fees at all 21 military housing bases operated by landlord Balfour Beatty Communities following a Reuters-CBS News report that the company falsified maintenance records at an Oklahoma base to help it qualify for millions of dollars in bonuses. The Air Force previously had suspended fees at three Balfour Beatty bases. Now, it has halted such payments at all 21 company sites after new allegations of improper handling of maintenance records arose at another base in Idaho, Mountain Home Air Force Base, John Henderson, the Air Force assistant secretary for installations, said in a statement to Reuters late on Friday. Balfour Beatty will not receive any management incentive fees, which the company says are worth 13 percent of its $33 million in annual military housing net income, or about $4.3 million, unti
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