Costly Fleet Update Falters
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A multibillion-dollar effort to modernize the Coast Guard's fleet has suffered delays, cost increases, design flaws and, most recently, the idling of eight 123-foot patrol boats that were found to be not seaworthy after an $88 million refurbishment.
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The on-time performance of airlines has reached an all-time low, but even the official numbers do not begin to capture the severity of the problem.
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PLANO, Texas Electronic Data Systems today delayed releasing its third-quarter financial results -- until November third. The extra time will let auditors finish evaluating a money-losing contract to provide computer services to the Navy.
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Sputtering U.S. economy forces shipper to cut forecast.
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The Air Force said yesterday that a Lockheed Martin Corp. military satellite program has fallen another year behind schedule and that the cost of the program will grow by at least $800 million.
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Corporate customers are still tight-fisted with their budgets as they put off needed upgrades, analysts say.
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Business & money: Industry reluctant to make the ultimate sacrifice of speed and acceleration.
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More than &#36;1 billion in federal aid to help schools and libraries connect to the Internet is being delayed by a bookkeeping change that has tied up the money.
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The company will add fewer planes to its fleet and will tweak its flight schedule as it grapples with a slowing economy and high fuel costs.
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The gay-and-lesbian travel service will suffer in its second half because of increased cruise costs.
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Sept. 6, 2004 âThe damage report isn&#39;t even complete, much less an understanding of the impact Hurricane Frances will have on NASA&#39;s wallet and scheduled return of the shuttle fleet to flight.
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The automaker attributed the decline to a cutback in fleet sales to daily rental companies, a âsoft industryâ and lower incentive spending.
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Amtrak&#39;s strategy of scraping by on limited budgets by deferring crucial capital investments &quot;is no longer workable,&quot; according to the inspector general of the Transportation
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To charge fares that approach those of the low-cost competitors, national carriers may not be able to afford the legacy of $200,000 pilots and highly paid mechanics and baggage handlers.
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Facing continued top-line weakness, the company may have to cut costs.
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The decision to suspend the use of the Florida-based patrol boats is a setback for the Coast Guard and its $24 billion modernization program.
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Private ferry operators need public-funding lifelines to stay afloat, City Council officials warned yesterday. Alarmed by service cutbacks announced recently by the financially troubled NY