IN BRIEF : Sundstrand Settlement Reported
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NEW YORK — Sundstrand Corp. may pay the Pentagon nearly $100 million to settle questionable billing practices, compounding the effect of a record criminal fine levied against the military contractor last year, Business Week magazine reported in its latest edition.
Quoting unidentified sources, it said the Defense Department is preparing what the magazine called an administrative settlement in which Sundstrand would make payments both in cash and contract price guarantees to resolve the billing problem.
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