icFor example, L-3 Corporation (which is now one of the five biggest contractors in the world) was born when Martin Marietta merged with Lockeed in the mid-1990’s Lockheed was not interested in a handful of Martin’s business lines, and so those lines were spun off as L-3.īut I digress–it suffices here to say that as business have gotten larger and more complicated, the statutes and regulations concerned with avoiding conflicts of interest and other improper business practices have become more and more important.
Sometimes, the mergers and acquisitions themselves spawned smaller companies that then launched an aggressive expansion program. Northrup Grumman was once two separate companies–Northrup Corporation and Grumman Aerospace, and so on and so forth. Many younger folks may not realize it now, but Lockheed Martin was one once two separate companies, Lockheed Corporation and Martin Marietta Corporation. Major government contractors have, like other large companies, had a tendency to become even larger over the last 20 years or so through mergers and acquisitions.
§ 423) and those portions of the Federal Acquisition Regulations (“FAR”) provisions prohibiting Organizational Conflicts of Interest (“OCI”)(FAR Subpart 9.505).
Today we will take a look at a couple of the hot-button topics in the world of procurement fraud - specifically the Procurement Integrity Act (“PIA”)(41 U.S.C.
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