Tag

Cost Overruns

All articles tagged with #cost overruns

politics1 month ago•4 min saved

Oracle Chief Subpoenaed Over $27B VA Health Records Overhaul

The House Veterans’ Affairs Committee subpoenas Oracle co-founder Larry Ellison (and Oracle CEO Mike Sicilia) to explain ballooning costs and delays in the VA’s electronic health records overhaul, a project that has risen from about $10 billion with a 2028 completion to roughly $27 billion with deployments at fewer than 20 sites; GAO says it lacks a full life-cycle cost estimate, and Oracle declined to testify as lawmakers from both parties criticize the project and the company.

via Politico|

#cost-overruns #electronic-health-records #oracle

transportation2 months ago•4 min saved

LAX’s SkyLink aims for October 2026 opening after years of delays and billions in overruns

The LAX Automated People Mover, SkyLink, is finally targeting an October 2026 opening after years of delays that inflated its price from about $1.9 billion to $3.34 billion, driven by a persistent legal dispute with contractor LINXS and a recent $880 million settlement; the six-stop, fully electric system would connect LAX to the Metro rail and reduce central-terminal shuttle trips, but experts warn the date isn’t guaranteed as costs and disputes continue.

via New York Post|

#airport-transit #cost-overruns #lax

defense2 months ago•8 min saved

Boeing’s Air Force One Overrun Deepens as 2028 Delivery Looms

Boeing booked a fresh $280 million charge for converting two VC-25B presidential aircraft, pushing its total losses on the program above $3 billion and delaying first delivery to 2028; the GAO’s cost estimates on the government side rise to about $6.6 billion, with Boeing adding resources to mitigate certification and testing risks, while the Qatar-donated VC-25B Bridge remains in service amid ongoing debates about its defensive capabilities and interim use as Air Force One.

via TWZ|

#air-force-one #boeing #cost-overruns

business2 months ago•327 min saved

Air Force One price tag balloons to $4.5B with 2028 delivery target

Boeing says the first of two 747-8 Air Force One jets will be delivered by 2028, but the program’s overruns have topped $3.1 billion, lifting the total taxpayer cost to about $4.5 billion with spare parts and related items. Delays are blamed on wiring/design changes, schedule slips, supplier issues and pandemic-era inefficiencies. President Trump has been personally involved in the talks since 2018 and even accepted a Qatar-donated jet for interim use. The costly project comes amid Boeing’s broader financial challenges and other headwinds in its aircraft programs.

via CNN|

#air-force-one #boeing #business

business2 months ago•11 min saved

Boeing Faces Big Loss as Air Force One Program Slips to 2028

Boeing posted a $428 million loss for the second quarter of 2026, driven by a $280 million charge tied to cost overruns and certification expenses on the two presidential Air Force One jets. The fixed-price program, originally $3.9 billion, has delivery slipping from 2024 to 2028 amid delays and rising costs, prompting Boeing to absorb additional production expenses. The delays contributed to President Trump’s push to retrofit a Qatar-gifted aircraft as a temporary Air Force One, a plan that has raised safety concerns and ballooned costs.

via The New York Times|

#air-force-one #boeing #business

science3 months ago•3 min saved

Artemis-Cancelled Lunar Projects Carry Roughly $6B in Overruns and Delays

NASA’s inspector general found four Artemis-era projects that were stopped this year would have cost far more and taken longer to complete, with lifecycle costs rising from about $2.8 billion to $5.9 billion and delivery dates extended by up to seven years. HALO could still push completion to 2031, while EUS, USA, and Mobile Launcher 2 saw substantial cost growth. NASA plans to lock requirements earlier and lean toward fixed-price contracts and commercial options going forward, freeing more than $3 billion for future missions and distancing revised Artemis plans from the overruns.

via SpaceNews|

#artemis #cost-overruns #halo

aerospace-and-defence3 months ago•5 min saved

Germany aborts its flagship postwar frigate program

Berlin has scrapped the €12.8bn F126 frigate program—the German navy’s largest postwar warship project—after delays and cost overruns, opting to buy eight Meko frigates instead; the change shifts lead contractor duties away from Damen Naval to Rheinmetall, prompting a roughly €2bn write-off and a dent to defence industry expectations amid NATO priority on sea-based anti-submarine warfare.

via Financial Times|

#aerospace-and-defence #cost-overruns #damen-naval

politics3 months ago•10 min saved

Chicago's Obama Presidential Center Opens Amid Ballooning Costs and Displacement Fears

The Obama Presidential Center in Chicago opens after costs balloon to about $850 million, with Illinois taxpayers contributing roughly $120 million for surrounding infrastructure and total public costs around $200 million. The center is a civic campus with a museum, library, plaza and community programming, but locals warn the project could price them out via higher rents and taxes. The project has faced controversy over design, delays, payments to subcontractors, and a racial-discrimination lawsuit by a Black-owned firm; the Obama Foundation defends its DEI goals, while some see the center as a potential economic engine for the South Side.

via Fox News|

#chicago #cost-overruns #displacement

politics5 months ago•6 min saved

Maryland cancels Key Bridge Phase 2 contract, testing Moore's speed claim

Maryland canceled its Phase 2 contract with Kiewit for the Francis Scott Key Bridge after bids exceeded state estimates, forcing a rebid as costs balloon from about $1.8B to over $5B; Gov. Wes Moore defends a fast, safe rebuild while USDOT emphasizes taxpayer protections and oversight, with MDTA planning an industry forum to select a new contractor and Phase 1 work continuing.

via WBFF|

#cost-overruns #key-bridge #kiewit

defense5 months ago•9 min saved

Navy Reconsiders Carrier Future as Ford-Class Costs Rise

The U.S. Navy is reviewing its future carrier strategy focused on the Ford-class, weighing whether the program’s high cost, delays and technical issues justify continued production. Ford-class ships offer advanced systems and higher sortie rates, but cost overruns and reliability concerns have spurred questions about design tweaks, slower or altered procurement, or a shift to alternative carrier concepts. The decision, expected in 2026, could influence plans for upcoming Ford ships while reaffirming that large-deck carriers remain central to U.S. strategy.

via 19FortyFive|

#aircraft-carriers #cost-overruns #defense

technology6 months ago•6 min saved

GPS OCX Saga: Billions Spent, Still Not Operational

Despite last year’s handover of RTX’s GPS OCX ground system, 16 years and about $8 billion later the software remains non-operational, with extensive testing revealing persistent issues across subsystems and lawmakers weighing cancellation as the Space Force considers options to continue with legacy systems or pursue alternatives to enable M-code and GPS III capabilities.

via Ars Technica|

#cost-overruns #gps #ocx

military11 months ago•6 min saved

Global Pushback Against the F-35 Stealth Fighter

European countries are reconsidering their F-35 fighter jet purchases due to issues like high costs, operational limitations, and concerns over U.S. control of software and mission data, with some nations like Spain and Portugal exploring European-built alternatives to ensure strategic autonomy and sovereignty.

via National Security Journal|

#cost-overruns #defense-industry #europe

defense1 year ago•6 min saved

GAO Reports Delays and Overpromising in F-35 Upgrades

The F-35 program is scaling back its planned Block 4 upgrades due to production delays, cost overruns, and supply chain issues, with the schedule now pushed to the mid-2030s and costs exceeding $16.5 billion. Despite challenges, Lockheed Martin remains committed to delivering capabilities and aircraft, while the GAO highlights ongoing concerns about costs, delays, and supply chain problems affecting the program's progress.

via Defense News|

#cost-overruns #defense #delays

world1 year ago•2 min saved

Trump's Federal Reserve Visit Sparks Tensions with Powell Over Renovations and Rates

Donald Trump publicly clashed with Federal Reserve Chair Jay Powell during a visit to the Fed's headquarters, criticizing the cost of the renovation project and accusing Powell of keeping interest rates too high, marking a rare and tense confrontation between a US president and the central bank chief.

via Financial Times|

#cost-overruns #donald-trump #federal-reserve

world1 year ago•10 min saved

HS2: From Ambitious Start to Challenges and Lessons

Insiders argue that HS2 was doomed from the start due to inherent issues in the UK's geography and political system, leading to massive cost overruns, delays, and mismanagement, with some suggesting fundamental reforms are needed for future projects.

via BBC|

#cost-overruns #hs2 #infrastructure