Tag Archives: cares act

Report: Treasury Mulls Setting Aside Nat’l Security Business Relief Funds Under $17B Loan Program

The Department of the Treasury considers safeguarding a $17B loan program for eligible national security companies under the Coronavirus Aid, Relief and Economic Security Act in the event that Boeing (NYSE: BA) and General Electric (NYSE: GE) find themselves in need of funds, Bloomberg reported Tuesday. Both companies have raised funds through bond offerings, divestiture and other initiatives.

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Potomac Officers Club Hosts Supply Chain Resilience and COVID-19 Virtual Event; RADM John Polowczyk Gives Keynote Address

John Polowczyk

Potomac Officers Club hosted its Supply Chain Resilience and COVID-19 Virtual Event on June 11th, featuring keynote speaker Rear Adm. John Polowczyk, supply chain task force lead for the Federal Emergency Management Agency (FEMA), and an expert panel with federal, academic and industry thought leaders. 

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DoD to Use $688M in CARES Act Funds to Support Aircraft Propulsion, Shipbuilding Industries

The Department of Defense plans to use $688M in funds under the Coronavirus Aid, Relief and Economic Security Act to address the financial impacts of the COVID-19 pandemic on the defense industrial base and promote local job creation efforts, Defense News reported Tuesday.

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GovConExpert Kim Koster: Mission Ready Workforce Remains the Goal of the DoD – CARES Act Section 3610

Kim Koster GovCon Expert

Government contractors have the opportunity to secure relief under the Coronavirus Aid, Relief, and Economic Security (CARES) Act or Paycheck Protection Program (PPP) and they should prepare for emerging rules and regulations around  compliance, reporting, auditing, and accounting. In order to provide financial assistance as quickly as possible during this crisis, not all of the details were fleshed out in advanceSo, the Department of Defense (DoD) recently provided guidance for contracting officers (COs) to help bring clarity by issuing  a Class Deviation – CARES Act Section 3610 Implementation document.

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LexisNexis Risk Solutions Report Shows Growing Shift Toward Mobile Fraud; Haywood Talcove Quoted

Haywood Talcove

A new LexisNexis Risk Solutions report examined the global cyber threat landscape between July 2019 and December 2019 and found a year-over-year growth rate of 56 percent in attacks targeting mobile transactions compared with a growth rate of 23 percent for desktop attacks.

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Pentagon Signs $126M Contract to Increase 3M Mask Production Capacity

The Department of Defense has awarded 3M (NYSE: MMM) a $126M contract to increase the company's monthly production of medical-grade masks for COVID-19 response. Lt. Col. Mike Andrews, a DoD spokesman, said in a statement posted Wednesday the company will work to produce 26M N95 masks every month beginning in October.

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Ellen Lord: Treasury Consults With DoD on Possible Eligibility Expansion for $17B Loan Program

Ellen Lord

Less than 20 defense companies have applied for $17B worth of loans under the Coronavirus Aid, Relief and Economic Security Act and Ellen Lord, undersecretary for acquisition and sustainment at the Department of Defense and a 2020 Wash100 awardee, said the Treasury Department is working with DoD as it considers how to expand the eligibility requirements for such loans, Defense News reported Thursday.

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