Word: agent
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Dates: during 1970-1979
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...government is investigating references in Lockheed records that indicate that at least two air force generals falsified the country's defense needs in return for Lockheed commissions that the Church subcommittee calculated to total $200,000. The references are contained in a letter written in 1968 by a Lockheed agent in Bogotá to Lockheed's Georgia office when Colombia was ready to buy a third Lockheed Hercules transport for about $2 million. The agent assured his superiors that even though the Colombian military budget was being cut, the air force officers could "justify the true necessity for more equipment...
...pictured in four-color ads in U.S. magazines, describing Lockheed's Super-TriStar as "the most intelligent aircraft I've ever flown." But Cathay Pacific found that Smith was the official identified in Church subcommittee documents as receiving $80,000 in Lockheed money from an "unidentified British agent living in France." He got the payment for helping Lockheed sell planes to other lines...
...then adds that there is a "gray area" in which American companies must accept the moral standards of the countries where they operate, like it or not. His own company, he reports, is now negotiating a contract in an Arab country to which it will add 5% for an agent's fee. The chairman knows quite well that the agent will pass much of the money on to government officials, but will not be told their names and will not ask. If the payments were not made, he says, the company would not get the contract. In effect, the company?...
Payoffs in about the 5% range appear to be standard in many countries. Edwin Schwartz, a Lockheed agent in Colombia, once wrote matter-of-factly to the U.S. company that "4% or 5% is usually needed to consummate transactions in the price range of Lockheed products. A number of people involved not only in making decisions to buy but also in the financing approvals, import licenses, contract negotiations, etc., etc., expect part...
Among the extraordinary documents are signed receipts for Lockheed cash. One, from Hiroshi Itoh, an executive of Marubeni Corp., a trading company that acts as agent for Lockheed, reads, "I received one hundred peanuts"-meaning 100 million...