Millions Risked on BAE Contract

[pistoff democrat]

Hundreds of millions of pounds of taxpayers' money is being put at risk in huge new arms sales to the shaky regime in Saudi Arabia, the Guardian can disclose.

Government financial guarantees against the collapse of the Saudi ruling family have already been secretly given to the giant arms firm BAE Systems.

BAE is currently negotiating fresh contracts for weapons, advanced avionics and refurbished planes with a regime that is regularly accused of corruption on a massive scale.

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http://www.guardian.co.uk/uk_news/story/0,3604,1094089,00.html

[cosmicdot]

1. wonder if The Carlyle Group will be effected?

http://www.baesystems.com/newsroom/2001/240401news2.htm

don't know if any of the imaging devices are used -
Carlyle bought BAE's imaging plant back in 2001
possibly a backdoor way to profit as a subcontractor - not that Carlyle had knowledge of future needs :eyes:

BAE, in essence, is still supplying itself the part, just under revised ownership

BAE SYSTEMS North America has reached agreement with The Carlyle Group, Washington, DC, to spin out its Imaging Sensors business located at Milpitas, California. Imaging Sensors was previously part of BAE SYSTEMS Reconnaissance and Surveillance Systems of Syosset, New York. In the transaction, BAE SYSTEMS has provided the assets of Imaging Sensors to form a new company, Fairchild Imaging, Inc. Closing of the agreement occurred April 6, 2001.

[pistoff democrat]

2. No worries,

it says here in paragraph 3, subsection c, that any losses will be divided among the populace and off the backs of the workers! :eyes: