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While a former Boeing engineer faces the United States' first ever economic espionage trial --for allegedly stealing space program secrets and giving them to China

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All the Boeing News That's Fit to Put in a Blog Post

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While a former Boeing engineer faces the United States' first ever economic espionage trial--for allegedly stealing space program secrets and giving them to China (Beijing, we have a problem!)--the company as a whole lost a big federal case. A US Court of Appeals ruled that the government could cancel its contract with Boeing and General Dynamics to develop an A-12 Fighter Jet (an advanced model of this) after the companies' execs admitted that they weren't going to be able to meet the agreed-upon deadlines.

The federal government has been trying since 1991 to get the companies to repay $1.4 billion from the contract and $1.4 billion in interest. Now, the court says, they'll have to. Boeing says it'll be on the hook for $675 million plus $1.4 billion in interest.

Sticking with the canceled contracts theme, Boeing lost its contract to build rescue helicopters for the Air Force. Rivals Lockheed Martin and United Technologies had protested the contract, and the Government Accountability Office found fault with the way Boeing was chosen.

All this isn't good for the company's employees of course, of whom there are fewer and fewer these days. The company has trimmed 2,657 Washington workers since October, and plans to trim another 1,800 by year's end.

Some silver lining: Congress approved $2.2 billion in funding for Boeing C-17 cargo planes, though those are built in Missouri.

Finally, the company continues to test its long-suffering Dreamliner, and also says that a biofuel for its commercial jets may be available as early as next year.

 
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