Tempus Applied Solutions Holdings Inc fka TMPS

[AJH92]

My take on the Form 8K Filed - Notification of Material Event.
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Protest filed by Omega [but did not appear on the GAO website within the 10 days allowed].

NEWPORT NEWS | MAY 2, 2019 – TriStar Air LLC, a subsidiary of Tempus Applied Solutions Holdings, Inc. was awarded a $121,425,707 indefinite delivery / indefinite quantity task order contract for aerial refueling services, as announced by the company April 24, 2019.

The contract was awarded in a competitive procurement process and in accordance with existing rules and regulations for U.S. Government contracting, an award can be protested by the other offerors.

A protest has been filed with the US Navy, by the incumbent provider of the air to air refueling services.

TriStar Air LLC has received a stop-work notification from the US Navy that will remain in effect until the protest has been adjudicated.

https://www.otcmarkets.com/filing/conv_pdf?id=13399703&guid=X-UyUFpGw1R4F3h
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GAO FAQs: https://www.gao.gov/mobile/legal/bid-protests/faqs/
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My opinion:

On technical merit of the services offered, $TMPS would be the clear winner:

- More modern and larger tanker fleet.

- Higher fuel off-load capacity per aircraft sortie.

- Therefore less take-off / landing fatigue cycles, lower maintenance costs, and hence lower operating costs reflected in lower bid.

- Greater maximum surge capability - 50% more than Omega with 3 x Tristar or 100% more with 4 x Tristar [1 x Tristar = 1 x KDC-10 or 2 x B707 roughly].

In my opinion, the basis of the complaint could only hinge around:

- "incumbent provider" - weak - DoD is only interested in Value for Money (VFM).

- Whether treated equally during negotiations - what opportunities were given to resubmit bids etc - not likely to be a factor - DoD career professionals handling contracts - just see how many are announced every day.

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The Stop Work order doesn't mean they can't still continue their search for aircrew or planning the aircraft move. They just won't get paid for anything until adjudication is complete.
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GAO Report FY2018 - Only 15% of Protests Sustained.

Summary - Extracts:

During the 2018 fiscal year, we received 2,607 cases: 2,474 protests, 55 cost claims, and 78 requests for reconsideration.

We closed 2,642 cases during the fiscal year, 2,505 protests,
53 cost claims, and 84 requests for reconsideration.

Of the 2,642 cases closed, 356 were attributable to GAO’s bid protest jurisdiction over task orders.

Of the protests resolved on the merits during fiscal year 2018, our Office sustained 15 percent of those protests.

Our review shows that the most prevalent reasons for sustaining protests
during the 2018 fiscal year were:

(1) unreasonable technical evaluation

(2) unreasonable cost or price evaluation

(3) flawed selection decision

https://www.gao.gov/assets/700/695707.pdf
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Last post on iHub today.