LOCKHEED WARNED
fN.Z.P.A.-Reuter—Copyright) WASHINGTON. Aug. 26. The United States Treasury Secretary (Mr William Simon) has made it clear that if the giant Lockheed Corporation pays bribes in future to sell its aircraft abroad, he will recommend a halt in Government aid to the firm, “which could put them into bankruptcy.” Commenting on payments of s22m admitted bv the comnany, Mr Simon condemned what he called “Lockheed’s anparent long-standing practice of resorting to hriberv to sell its products in foreign markets.” but. he said, he had been assured that such secret pav-off= had stopned.
Mr Simon, who is also chairman of the Government’s Emergency Loans Guarantee Board, was testifying to the Senate Banking Committee, which was told bv Lockheed’s chairman. Mr D. .1. Haughton, that S22m naid to foreign consultants was “mostlv kick-backs, rather than bribes ” He refused to divulge the countries. or neon’e. involved. The Loan Board approved a renewal of Gov-ernment-hacked loans to Lockheed amounting tn s3om bringing the total of such loans to sl9sm.
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Bibliographic details
Press, Volume CXV, Issue 33932, 27 August 1975, Page 15
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166LOCKHEED WARNED Press, Volume CXV, Issue 33932, 27 August 1975, Page 15
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