SLIDESHOW: Top 5 Business Scandals of 2012
F-35s
After two years of publicly defending its decision to purchase the Lockheed-Martin F-35 fighter jet to replace its aging fleet, the federal government pulled an about face in December, announcing it was cancelling the contract and starting over. Complaints over an uncompetitive bidding process and escalating costs forced the government into their 180 degree turn. The government had initially claimed the jets would cost taxpayers about $9 billion. Revised estimates that took into account maintenance costs massively inflated the price to about $45 billion. It takes something special for this government to admit they made a mistake







