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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.
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".
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 ...
Volkswagen and Shanghai's SAIC Motor have agreed to sell a factory in China's far western Xinjiang region that drew criticism due to accusations by western governments of human rights violations.
SAIC Motor Corp., Ltd. (formerly Shanghai Automotive Industry Corporation) is a Chinese state-owned automobile manufacturer headquartered in Anting, Shanghai.Founded in 1955, [4] it is currently the largest of the "Big Four" state-owned car manufacturers of China ahead of FAW Group, Dongfeng Motor Corporation, and Changan Automobile, with sales of 5.02 million vehicles in 2023.
JSW MG Motor India Pvt Ltd, previously MG Motor India Private Limited until 2024, is an automobile manufacturer in India, which was established in 2019.Since 2023, it is a joint venture between the Mumbai-based Indian multinational conglomerate JSW Group and Shanghai-based Chinese automotive manufacturer SAIC Motor, a Chinese state owned automobile manufacturer which markets vehicles under the ...
In 2002, the joint venture SAIC-GM-Wuling was established, with SAIC holding 50.1% of the shares, General Motors 34%, and Wuling Group (later renamed Guangxi Auto) 15.9%. [5] Wuling transferred its microvan and small truck production to the joint venture. By 2011, GM increased its ownership stake to 44%, reducing Wuling's share to 5.9%. [6] [7] [8]
Engility is now part of SAIC. Engility, previously known as L-3 Services, Inc., became an independent publicly traded corporation in July 2012 as part of a spin-off transaction by L-3 Communications Corporation. At the time of the spin-off, the new company was estimated to have an annual revenue of $1.6 to $2 billion and employed about 9,000 to ...