Top Private Defense Contractor Plans an IPO to Rival Google's

[laststeamtrain]

washingtonpost.com
Top Private Defense Contractor Plans an IPO to Rival Google's

By Renae Merle
Washington Post Staff Writer
Friday, September 2, 2005; D01

Science Applications International Corp., the largest privately held defense contractor, announced yesterday that it would go public early next year,aiming to raise $1.7 billion for insiders cashing in on the post-Sept. 11 government spending boom that fueled the firm's growth.

The public offering would rival Google Inc.'s $1.8 billion deal in 2004 in size and be the largest IPO of a government contractor in many years. The chief beneficiaries will be SAIC's more than 35,000 shareholders, which include many current and former employees, some of whom stand to make millions of dollars. The company has 16,000 employees in the Washington region...
http://www.washingtonpost.com/wp-dyn/content/article/2005/09/01/AR2005090102407_pf.html

[teryang]

1. This reflects the high water mark of defense contractor scams

...when they are ready to go public, they are ready to get out at the top. This has no comparison to Google whatsoever. This company is completely dependent on crony capitalism and government handouts. The end of growth in that area is forseeable at this point.