Renegotiation Act Amendments of 1981: Hearing Before the Subcommittee on General Oversight and Renegotiation of the Committee on Banking, Finance, and Urban Affairs, House of Representatives, Ninety-seventh Congress, First Session, on H.R. 5651 ... August 4, 1982

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Page 89 - Office of the Assistant Secretary of the Army for Research, Development, and Acquisition (RD&A) and the Deputy Chief of Staff for RD&A.
Page 8 - STATEMENT OF HON. HENRY B. GONZALEZ, A REPRESENTATIVE IN CONGRESS FROM THE STATE OF TEXAS Mr. GONZALEZ. Thank you very much, Mr. Chairman.
Page 20 - Even assuming we had efficient and effective price negotiations for contract awards, we believe that renegotiation of actual profits realized is desirable to prevent excessive profits which result from changed conditions that cannot be anticipated at the time of contract award.
Page 74 - In conclusion, while the General Accounting Office agrees that the VinsonTrammell Act is outdated and should be replaced, we believe that the question of whether or not this Act should be replaced with a new statute is a matter of policy which the Congress should determine after considering all of the advantages and disadvantages. As a minimum, we...
Page 79 - ... with particular regard to attainment of quantity and quality production, reduction of costs, and economy in the use of materials, facilities, and manpower.
Page 24 - ... increased the average rate of return on capital by 33 percent and on net worth by 144 percent. Although the cost changes had a smaller effect on the rate of return on sales (profit-sales ratio) , we noted rate increases as high as 10 to 20 percent in a few cases . To determine the accuracy of data, the Board analyzed 800 filings processed in fiscal year 1970 by the regional boards' accounting divisions and found that the contractors...
Page 24 - GAO study on the causes of excessive profits citesa case wherein the contractor realized an actual profit rate on costs of 64 percent rather than the negotiated rate of ll percent.
Page 21 - We would be happy to respond to any questions that the chairman or members of the subcommittee might have of us.
Page 68 - DONALD J. KORAN, DIRECTOR PROCUREMENT, LOGISTICS, AND READINESS DIVISION UNITED STATES GENERAL ACCOUNTING OFFICE...

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