E.D.S. wins record $7 billion contract for Navy computer network

Article Abstract:

Electronic Data Systems Corp. won a $7 billion contract to build the Navy-Marine Corps Intranet network, in the first military contract for the respobsibility of computer system operations and maintenance given to a private company. E.D.S. won out over I.B.M., General Dynamics and Computer Science Corp. for the 5 year contract, with a possible extension. The Navy projects a savings of $400 million a year in savings from the new system.

Telephone and telegraph apparatus, Use of services, Computer network equipment industry, Network hardware industry, Network management systems, United States. Department of Defense

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Xerox reports loss and plan to eliminate 4,000 jobs

Article Abstract:

Xerox Corp. announced a loss of $198 million during its fourth quarter. During the same period last year, the company announced profits of $294 million. The company's executives still believe the firm is on track in its turnaround. The company plans layoffs of 4,000 in an attempt to cut costs and also plans an asset sale, hoping to raise $2-4 billion.

Photographic equipment and supplies, Photocopy Equipment, Photographic and Photocopying Equipment Manufacturing, Sales, profits & dividends, Office equipment and supplies industry, Office equipment industry, Xerox Corp., XRX, Human resource management, Company sales and earnings, Company earnings/profit

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For E.D.S. And Its Kin, Deeper Trouble Than Audits

Article Abstract:

Electronic Data Systems Corp. is delaying its quarterly earnings report due to an auditing disagreement over a Navy contract. The company pleased investors by announcing it plans to cut its workforce and reduce operating costs in 2006.

General services, Financial management, Contracts & orders received, Computer and Data Processing Services, Personnel administration, National Security, Capital funds & cash flow, Contracts & orders let, Dept of the Navy, US Navy, Computer services industry, Information technology services industry, Accounting and auditing, Company systems management, Information management, Valuation, Company financing, Public contracts, Government contracts, Government contract, Downsizing

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