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Misplaced comma costs Lockheed $70 mn

London, June 19: The US-based Aerospace Group Lockheed Martin Corporation lost 70 million dollars because a sales contract had a comma in the wrong place.

An international contract for the group's c-130J Hercules had the comma misplaced by one decimal point in the equation that adjusted the sales price for changes to the inflation rate.

It was a mistake, a newspaper quoted James A Micky Blackwell, president of Lockheed'S Aeronautics division as saying. But the customer, who Lockheed refused to name, held them to the price. "That comma cost lockheed 70 million dollars,'' Blackwell was quoted as telling the newspaper.

Lockheed has secured contracts from three countries outside of the United States - Britain, Italy and Australia - for its C-130J, the latest version of its Hercules air transportation aircraft.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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