Defense companies that miss deadlines and increase costs should be punished with bans from bidding on new military contracts, Rahm Emanuel, ambassador to Japan, said according to The Hill, Tuesday.
The ambassador also proposed a five-year ban on buying back stocks or until deadlines are met for companies that fail to meet their commitments, adding that such a policy “would quickly get the attention of the C-suite.”
He also recommended preventing “the big five” from bidding on contracts in some areas, such as emerging systems, and encouraging bids from startups and “small, ambitious firms only.”
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