Lockheed Martin to refund profits on damaged satellite
Posted: Wed, Oct 6, 2004, 1:54 PM ET (1754 GMT)
Lockheed Martin will give up all profits it has earned on a weather satellite that was damaged in a factory mishap last year. The satellite, NOAA N Prime, slipped off a cart as it was being rotated from a vertical to horizontal position in Lockheed's satellite factory in California in September 2003 because bolts used to secure the satellite to the cart were missing. The satellite sustained significant damage in the one-meter fall to a concrete floor. Lockheed officials said Tuesday that company had agreed to voluntarily give up all the profits it had earned on the satellite contract to date, and to repair the satellite on a cost-only basis. The announcement comes in the wake of NASA's release Monday of the final report into the satellite mishap, which put the blame for the accident on the company. The report in particular cited a lack of discipline, complacent attitudes, and poor communication and procedures as the key contributing causes to the crash. The polar-orbiting satellite is scheduled for launch in late 2007.
Lockheed Martin will give up all profits it has earned on a weather satellite that was damaged in a factory mishap last year. The satellite, NOAA N Prime, slipped off a cart as it was being rotated from a vertical to horizontal position in Lockheed's satellite factory in California in September 2003 because bolts used to secure the satellite to the cart were missing. The satellite sustained significant damage in the one-meter fall to a concrete floor. Lockheed officials said Tuesday that company had agreed to voluntarily give up all the profits it had earned on the satellite contract to date, and to repair the satellite on a cost-only basis. The announcement comes in the wake of NASA's release Monday of the final report into the satellite mishap, which put the blame for the accident on the company. The report in particular cited a lack of discipline, complacent attitudes, and poor communication and procedures as the key contributing causes to the crash. The polar-orbiting satellite is scheduled for launch in late 2007.
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