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U S will not cancel Lockheed loan guarantee plan
Washington AP The federal government will not cancel its 250 million loan guarantee program for Lockheed Aircraft Corp despite disclosures of improper payments and bribes to foreign officials. The Emergency Loan Guarantee Board said future improper payments could trigger default and barred funds outside normal corporate channels. Rep Harrington urged termination but the board noted repayments totaling 35 million this year and remaining guarantees of 160 million with a possible 40 million more by year end.
MENTIONED IN THIS ARTICLE
Lockheed
Michael J. Harrington
D-Mass
Japan
Kakuei
Tanaka
Prince Bernhard
Netherlands
Harrington
Busines