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To: D.B. Cooper who wrote (7801)6/7/2002 6:09:02 PM
From: stockman_scott  Read Replies (1) | Respond to of 13815
 
A true sign of a bottom

dribbleglass.com



To: D.B. Cooper who wrote (7801)6/7/2002 8:28:09 PM
From: D.B. Cooper  Read Replies (1) | Respond to of 13815
 
Boeing bags airport screener contract
By Jennifer Waters, CBS.MarketWatch.com
Last Update: 6:43 PM ET June 7, 2002




WASHINGTON (CBS.MW) -- The Department of Transportation handed Boeing Co. the first chunk of what could be a $1.37 billion deal to provide explosive detection machines at the nation's airports.





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Under the initial $508 million contract, Chicago-based Boeing will manage the installation and maintenance of more than 7,100 machines that probe for bombs and analyze vapors and residues of explosives.

The contract is an important one, fulfilling a tough mandate under the Aviation and Transportation Security Act to screen every piece of checked luggage by Dec. 31.

Boeing (BA: news, chart, profile) will look to several subcontractors to help install up to 1,100 explosive detection system machines, referred to as EDS machines, and as many as 6,000 explosive trace detection machines, or ETDs.

The contract has an optional five-year maximum government obligation.

Boeing also will train at least 21,500 federal baggage screeners to operate the equipment.

Also Friday, the Transportation Department handed Lockheed Martin (LMT: news, chart, profile) a contract that won't exceed $490 million to implement the master schedule for federal security agents, as well as handle passenger lane reconfiguration, add new security technologies and support the transitions from the private screening work force to a federal work force.

Lockheed also will look to several subcontractors for help to meet the Nov. 19 deployment date for the new federal workers.

Shares of Boeing rose 1.9 percent, or 80 cents, to $42.76 ahead of the news. Lockheed Martin's shares slipped 20 cents to $63.40.

Jennifer Waters is the Chicago bureau chief for CBS.MarketWatch.com.