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Friday, March 06, 2009

Lockheed Presidential Helicopter Now Double Its Projected Cost

VH-71 presidential helicopterLockheed Martin Corp.’s presidential helicopter program is now projected to cost $13 billion, more than twice its original estimate, according to the Pentagon.

This latest estimate, prepared for congressional defense committees, is more bad news for a program President Barack Obama last month called “an example of the procurement process gone amok.”

The Pentagon, in a 15-page update on the program, blames the increased cost on delays and “unanticipated” work.

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