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CityTime was a New York City contract to build a timekeeping and payroll system for city employees, awarded to SAIC as a no-bid, $63 million contract in 2003. [1] In the following years, the contract ballooned to $700 million, as consultant rates were artificially inflated, and contract terms were adjusted to make the city responsible for "cost overruns".
In 2012 SAIC was ordered to pay $500 million to the City of New York for overbilling the city over a period of seven years on the CityTime contract. [15] [16] In 2014 Gerard Denault, SAIC's CityTime program manager, and his government contact were sentenced to 20 years in prison for fraud and bribery related to that contract. [17]
The business of war, deterrence, and national security has long incorporated cutting-edge technology. Toni Townes-Whitley, the CEO of Science Applications International Corporation, or SAIC (), is ...
The analyst says that SAIC must secure new contracts and effectively execute them, as some projects may carry higher risks and technical demands, though they offer the potential for improved margins.
However, Leidos is the legal successor of the original SAIC and retains SAIC's pre-2013 stock price and corporate filing history. [ 24 ] Before the split, Leidos employed 39,600 employees and reported $11.17 billion in revenue and $525 million net income for its fiscal year ended January 31, 2013, [ 25 ] making it number 240 [ 26 ] on the ...
Margins matter. The more SAIC (NYS: SAI) keeps of each buck it earns in revenue, the more money it has to invest in growth, fund new strategic plans, or (gasp!) distribute to shareholders. Healthy ...
SAIC (NYS: SAI) carries $2.0 billion of goodwill and other intangibles on its balance sheet. Sometimes goodwill, especially when it's excessive, can foreshadow problems down the road. Could this ...
The City of New York is unique among American cities for its large number of foreign corporations. One out of every ten private sector jobs in the city is with a foreign company. Often this makes the perspective of New York's business community internationalist and at odds with Washington's foreign policy, trade policy, and visa policy. [63]