Kay Manufacturing Co. v. United States

This renegotiation case comes before the court on plaintiffs exceptions to the findings of fact, conclusions of law, *84and recommended opinion issued by Trial Judge Yannello on September 29, 1980, in accordance with Rule 134(h).1 The Trial Judge held that Kay Manufacturing Company (Kay or plaintiff) had realized excessive profits of $111,332 during fiscal year 1969, the review year in issue, from renegotiable subcontracts for the machining of 105-mm. cartridge case bases. Profits earned under these subcontracts were subject to the provisions of the Renegotiation Act of 1951 (the Act), 50 U.S.C.…