NY Times - A National Park Service analysis found that the contractor given a no-bid contract to repair the Lincoln Memorial Reflecting Pool is being paid an inflated and excessive profit margin, according to federal documents obtained by The New York Times.
That analysis, prepared by a Park Service contracting specialist, found that the typical profit margin of federal construction contracts like this one is 6 percent to 12 percent. But the firm fixing the Reflecting Pool, Virginia-based Atlantic Industrial Coatings, submitted a bid that charged 20 percent, adding at least $850,000 to what a more typical contract would have cost..... The government eventually agreed to pay the firm $13.1 million, which is seven times the amount that President Trump initially said the work would cost.
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