The government's fuzzy small biz mathThe Small Business Administration's count of federal money spent with small businesses isn't adding up.By Ian Mount
Last Updated: October 7, 2009: 9:04 AM ET
(Fortune Small Business) -- In August the Small Business Administration released its annual scorecard tallying federal dollars awarded to small business contractors last year.
The good news? Federal agencies claim they spent $93.3 billion. That's $10 billion more than the year before.
The bad news? It's fuzzy math. Billions of dollars reportedly allocated to small contractors are still flowing to corporate giants. The SBA's top two "small business contractors" for 2008 -- VSE Corp. ($1 billion in annual revenues) and AAI Corp., a division of Textron Inc. (TXT, Fortune 500) ($14.2 billion in annual revenues) -- weren't small at all. They alone accounted for $1.6 billion in federal "small business" spending....
http://money.cnn.com/2009/10/07/smallbusiness/sba_federal_money.fsb/index.htm:wtf:
What is the loophole these corporate giants slime their way through in order to obtain this illicit funding? Is there any punishment meted out beyond slapping their greedy wrists? This is money the US cannot afford to waste, money that small businesses need to help re-invigorate the economy, dammit!