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Congressional shaming prompts notorious Pentagon price-gouger to refund $16.1m | Boing Boing

Transdigm is a notorious military supplier/hedge fund that used acquisitions to attain a monopoly over many spare parts so they could charge exorbitant markups — as high as 4,451%! — on materials procured with tax dollars.

Many attempts have been made to rein in Transdigm (who, despite their massive profits, clearly can’t afford to buy a vowel, perhaps they could ask their retired $61m/year CEO, Nicholas Howley, to buy them one), but they have all failed. Transdigm’s price-gouging is repugnant, but not illegal.

Rep Ro Khanna [D-CA] got on Transdigm case as a freshman Congressman two years ago, and after two years of work, he dragged them in front of the House Oversight Committee, where they were made to answer for a scorching DoD Inspector General report.

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Congressional shaming prompts notorious Pentagon price-gouger to refund $16.1m / Boing Boing.

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