Grand Jury Demands Lawmaker's Documents
Investigation Centers On Ties to Contractor
By Renae Merle and Jeffrey H. Birnbaum
Washington Post Staff Writers
Wednesday, June 29, 2005; Page D01
~snip~
Meanwhile, MZM announced yesterday that retired Lt. Gen. James C. King would take over as chief executive and president of the firm and indicated that it is considering a sale or merger. A statement said the company is "exploring strategic alternatives." It did not mention Wade or address the controversy.
King told workers yesterday that his primary mission is to protect the company's assets in preparation for its sale, according to two former employees told of the discussions who spoke on condition of anonymity.
A sale "would not be our first course of action per se, but it is one of the things we're looking at," said Scotty Brumett, an MZM spokesman. "We're looking at many different things."
`snip~
King's appointment "marks the completion of a transition in the corporate management," the statement said. He will have "sole executive authority over the management and operations of the company." Before joining MZM, King was director of the National Imagery and Mapping Agency, now known as the National Geospatial-Intelligence Agency.
MZM specializes in defense and intelligence contracting and had about $60 million in revenue last year. In recent years, the firm's largest source of revenue has been a type of contract called a blanket purchase agreement, with the Defense Information Systems Agency, an arm of the Pentagon. The company has collected contracts worth $163 million over the past 2 1/2 years under the agreement, with work that included developing political strategy and helping government agencies gain "geospatial awareness," according to government procurement records.
http://www.washingtonpost.com/wp-dyn/content/article/2005/06/28/AR2005062801660.html