Word: northrops
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...secret of what could be a multibillion-dollar deal was out. Executives at three major U.S. defense contractors-General Dynamics, Boeing and Northrop-reluctantly confirmed that such a swap is indeed under consideration. TIME has learned that the initial overtures to the companies were made in letters from General Hassan Toufanian, Iran's Vice Minister of War, after the barter proposal had been cleared by the U.S. departments of Defense, State and Treasury. The military equipment that would be bartered includes General Dynamics' F-16 fighters, McDonnell Douglas/Northrop's F-18s and Boeing's electronics-jammed...
...would mislead them. Simply to demonstrate the gullability of any human system is, in the final analysis, meaningless. A far more worthwhile program would be to emphasize the need for truthfulness and straightforwardness by all media users, even at the risk of not making self-fulfilling prophesies. John O. Northrop Despina Vodantis Birmingham, Alabama Board of Education...
...Iran the government announced that it had unexpectedly received $2.1 million from Northrop Corp. Company officials explained that the sum was in payment of a fine for illegally using an Iranian consulting firm to help sell F-5 fighter planes. It was the first known instance of a U.S. company making atonement for improper payments in Iran...
Personal Delivery? Critics of scandal-tainted corporations have been demanding management changes, and two companies responded last week-in diametrically opposed ways. In an astonishing display of corporate arrogance, Northrop Co. reinstated Thomas V. Jones as chairman. Jones had been both chairman and president when Northrop paid $30 million to agents and officials abroad and made illegal political contributions in the U.S.; he resigned as chairman last year after Northrop's executive committee said he bore a heavy responsibility for those acts...
Other scandals are still emerging or growing. It is not known yet exactly how many U.S. military officers and high-ranking Pentagon civilians accepted the hospitality of Northrop and other defense contractors at hunting lodges; the current count is 101. Some highly principled companies are investigating their overseas activities on their own. G.D. Searle, the pharmaceutical firm, last month announced that it had discovered payments of $ 1.3 million to "foreign government employees or their agents." While the making of such voluntary disclosures is admirable, it intensifies a troubling question: When will the scandals ever...