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Article: Navy Official Warns on Cost Overruns
- Article from:
- AP Online
- Article date:
- April 4, 2007
CopyrightCopyright 2007 Associated Press/AP Online. This material is published under license from the publisher through YellowBrix, Alexandria, Virginia. All inquiries regarding rights should be directed to YellowBrix. (Hide copyright information)
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WASHINGTON - A senior Navy official is warning that rising costs in key programs such as Lockheed Martin and General Dynamics' next-generation surface combat ships could derail efforts by the department to modernize its fleet and aircraft.
"We can't let costs continue to grow, or quite frankly, we won't have a Navy and the Navy won't have work to do," said Adm. Michael Mullen, Chief of Naval Operations, during a panel discussion this week at the Navy League Sea-Air-Space Exposition.
The Navy has awarded contracts for four ships that initially were estimated to cost $270 million each under the Littoral Combat Ship (LCS) program, two to Bethesda, Md.-based Lockheed Martin Corp. and two to ...