Lockheed pledges open review of payoffs probe
London reports outside directors will complete an exhaustive study by year end on payments to gain overseas orders. Haack said the probe covers Japan, the Netherlands, West Germany, Italy, and other nations with alleged payments totaling 23 to 25 million dollars. Despite the controversy, Lockheed’s first half orders reached a record 1.7 billion, offset by weaker Japan Netherlands Germany activity and projected 1976 earnings likely lower than 1975.
MENTIONED IN THIS ARTICLE
London 4
Lockheed Aircraft Corp
Lockheed
Robert W. Haack
Japan
Netherlands
West Germany
Italy
Lockheed’s
A. Carl Kotehian
Haack
West
Germany
Saudi Arabia
Prosecution Quiz of Lockheed Executive in Japan Scandal
Prosecutors from Japan and the United States quiz Lockheed vice president A H Elliott in Los Angeles over the payoff scheme linked to aircraft sales in Japan. The hearing on constitutional challenges was scheduled before Judge Albert Lee Stephens, with immunity already granted to Elliott and two other Lockheed officials.
MENTIONED IN THIS ARTICLE
Associated Press
A.H. Elliott
Lockheed
Elliott
Los Angeles
Tokyo
U.S. Justice Department
Japan
Asst
U.S. Atty
Carolyn Reynolds
U.S. District Court
Albert Lee.Stephens
Ford loses ships funding request in House vote
President Ford’s request for 81.1 billion to fund new ships was shelved by the House Armed Services Committee. The seapower subcommittee had approved a destroyer strike cruiser and patrol frigates, but the full committee tabled the request by voice vote amid political timing concerns raised by Rep. Charles H. Wilson.
MENTIONED IN THIS ARTICLE
Washington II
Ford
House
Armed Services Committee
Charles H. Wilson
New York AMF Reports Increased Foreign Payments
New York based firm AMF Inc says its questionable foreign payments since 1971 total 2.54 million dollars, higher than the 1.5 million disclosed last April. Payments across 13 countries largely supported government officials and foreign parties, including a 91 thousand dollar payment to an unnamed government official. About 1.8 million aimed at gaining new business, with others to secure tax breaks or expedite deals. Funds were kept in overseas local offices, sometimes hidden from tax authorities, but audited and included in consolidated statements.
MENTIONED IN THIS ARTICLE
New York
AMF Inc
House panel approves sale of diamonds from stockpiles
The House Armed Services Committee on Wednesday approved the sale of $745 million worth of diamonds and metals from U.S. defense stockpiles amid a late appeal by Secretary of Defense Donald Rumsfeld.
MENTIONED IN THIS ARTICLE
House
Oks Sale of Diamonds
Washington
Secretary of Defense
Donald Rumsfeld
House Armed Services
U.S. Defense
Also Mentioned on This Page
Lene Geach
ATO
Actosindependent
U.S. Securities and Exchange Commission
SEC
Lockheed Exec
Ian
Nso Taabe
Tok
D-Calif
Ronald Reagan
OE DE Beck
H &R Block
H&r Block
Long Beach
del Amo Bivd
Stanton Rosemarie & BA
Beach Blvd
Glendale
Torrance
Jon
Marry
Lakewood
Doris & Earl
South St
Butch Village
Santa Ana
Lee
Dacron
Sa. Yd
Evans
Coupon Sale Sa. Ya
Hindson
Coupon Sale Sa. Yd
Harlow
Long Beach Blvd
San Diego
Osta Mesa
Santa AN
South
Coant Pasay Ve
Juntington
Mirission Viejo
Tome Marguerite
la Paz
Marguerite
Ralon’s
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