Boeing keeps setting new highs! When will it split? Message Board

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Technology Stocks : Boeing keeps setting new highs! When will it split?

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To: Dale J. who wrote (1874)	10/16/1998 2:31:00 PM
From: Diamondcutter	Read Replies (1) of 3763

Boeing, USAF in $295 million AC-130 settlement The Justice Dept. has notified Congress that Boeing and the U.S. Air Force have settled a long-standing legal dispute over AC-130 Gunship work that will net Boeing about $295 million in payments. Rockwell filed a lawsuit in 1995 arguing the Air Force didn't pay it the money the company was owed for AC-130 work. The suit continued after Boeing bought Rockwell's aerospace operations. The government and Boeing settled the dispute through mediation on Sept. 30. The $295 million settlement is the largest made through mediation, one source said. The suit argued that Rockwell had spent several hundred million dollars in company funds to develop the gunship without being properly reimbursed. The settlement creates a serious problem for the Air Force. Boeing will receive its money from the Treasury, which has a special judgment fund. However, the AF will have to reimburse the Treasury out of appropriations made to the service.

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