9 days agoAudit Exposes Major Oversight Flaws at Minority Business Development Agency
An OIG audit revealed that **96%** of transactions at the **MBDA**, totaling around **$16 billion**, lacked proper oversight. This finding not only indicates significant weaknesses in compliance but also suggests potential reforms in **minority business support programs** moving forward.
71 days agoHUD Assumes Control of Little Rock Housing Authority Over Non-Compliance
The U.S. Department of Housing and Urban Development has declared the Little Rock Housing Authority in substantial default, taking control of its operations and programs. This decision emphasizes the need for compliance with federal housing mandates and will likely alter the landscape for contractors involved in public housing.
77 days agoPBGC Takes Over Three Pension Plans from First Brands Amid Bankruptcy
The Pension Benefit Guaranty Corporation (PBGC) has assumed three pension plans from First Brands Group after the company filed for Chapter 11 bankruptcy. This move ensures that approximately 1,630 retirees will maintain their benefits, creating procurement opportunities for contractors in pension administration and related services.