Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : CXI-Commodore Environmental -- Ignore unavailable to you. Want to Upgrade?

To: NicktheGreek who wrote (1611)	6/21/1999 7:09:00 PM
From: NicktheGreek	Read Replies (1) \| Respond to of 1755

Press release (part 2) by: mjbrod_1 3070 of 3073 But the DOD document released today, a February, 1999 memo reporting the results of a fiscal review of "the CHEM/DEMIL program in the Army," stated that: * "After no more that) a couple of hours of the standard kabuki dance, it became evident to all that they were banking money.", * "The first two Research and Development documents we looked at reflected [activities) to hide excess FY 1998 funds."; * "When it comes to the Procurement funds, it is like drilling for oil in Saudi Arabia.": and. * In the world of Operations and Maintenance what they are doing is almost criminal." CWWG spokesman Craig Williams explained, "For months, Dr. Prociv told Congress, state regulators, and the public 'the money is just not there. "Now there is clear evidence that his statements were false. In order for the chem weapons disposal program to move forward with any integrity, Dr. Prociv should step down." The Army chose incineration as its preferred alternative for destroying chemical weapons in 1982 and has pressed forward with that plan despite growing opposition and the development of alternative disposal technologies. According to the General Accounting Office (GAO), that incineration program is now 14 years behind schedule and $ 13.2 billion over budget. It was in this context that Congress created the ACWA program to carefully evaluate non- incineration options. Reacting to this new information, the Senate Defense Appropriations - committee Report reads, "The Committee is concerned with the lack of oversight afforded the Chemical Demilitarization Program within the executive branch. In a review of the program's funding, the Committee discovered that funds had systematically been obligated without being expended and in some instances funds were unobligated. Rather than facing a shortfall in funding, the program had over $200,000,000 of Operation and Maintenance funds unexpended at the end of fiscal year 1998," Senator Mitch McConnell (R-KY), author of the ACWA legislation reflected to the disclosure of the financial memo saying, "This information shows clearly that there is no truth to the assertion that there were not sufficient funds available to allow for the demonstration of all viable alternatives to baseline incineration." In a letter to her Congressman, Bob Riley (R-AL), Brenda Lindell, member of Families Concerned of Anniston, Alabama said, "I am furious that by this lying and deceit he has potentially sabotaged the ACWA program. Yet, the local citizens will be the ones that will pay the price. Prociv does not have the integrity to be over, or even involved in this program." Copies of the DOD financial memo and the CWWG letter to Army Sec. Caldera are available on request.