Congress is Accepting Price Gouging By Defense Contractors [Forbes]
Transdigm Group Incorporated (TDG)
Last transdigm group incorporated earnings: 2/4 07:15 am
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Source: Forbes
Congress is Accepting Price Gouging By Defense Contractors President Donald Trump, from left, U.S. Vice President Mike Pence and Mark Esper, U.S. Secretary of Defense, walk past an honor guard during a welcome ceremony at the Pentagon in Arlington, Virginia, U.S., on Thursday, July 25, 2019. Photographer: Mike Theiler/Pool via Bloomberg © 2019 Bloomberg Finance LP On May 15, the House of Representatives Committee on Oversight and Reform held a hearing about contract pricing practices of Transdigm, a sole source supplier of parts to the Pentagon. The Department of Defense (DOD) Inspector General (IG) found that Transdigm overcharged the government by as much as 4,451 percent for items purchased. The hearing produced what passed for bipartisan outrage, and Transdigm eventually agreed to refund $16 million to DOD. Left unstated was that Transdigm violated no laws, regulations or DOD policies. Transdigm simply got overly aggressive at the wrong time, and was singled out for criticism
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TDG
News
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TDG
Earnings
- 2/8/24 - Beat
TDG
Sec Filings
- 4/16/24 - Form 4
- 4/16/24 - Form 4
- 3/26/24 - Form 4
- TDG's page on the SEC website