Word: northrops
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...Pentagon flap, Jerome Levinson, chief counsel of the Senate Subcommittee on Multinational Corporations, accused the Defense Department and Northrop Corp. of teaming up to shield the names of high officers who accepted company favors in violation of Defense Department conflict-of-interest rules. The officers accepted invitations to spend weekends shooting duck, geese and quail at Northrop's leased hunting preserve near Easton, Md., even though the company, a major defense contractor, is currently angling for a multibillion-dollar contract to build 800 F-18 jet fighters for the Navy...
...part of the recent disclosures about corporate bribes and political contribution abroad by several major U.S. corporations--Northrop, Gulf, Ashland Oil--the Securities and Exchange Commission revealed this summer that Lockheed has paid $202 million in agent's commissions since 1970, of which at least $22 million was destined for contributions to foreign political parties and bribes to officials of other governments...
Like its mammoth defense competitors Northrop and Raytheon--and unnamed others--Lockheed apparently has directed enormous sums to Saudi Arabia's flashy contract agent, Adnan Khashoggi, and his mysterious Triad Corporation. Lockheed officials reportedly payed Khashoggi $106 million in the last five years: the ante is high, but in the unreal world of big-money defense contracts, the stakes are higher still. In Europe, Africa and the Middle East, uneasy rulers are channeling huge sums into sophisticated weapons systems, and American companies are fighting with each other and with foreign competition to obtain slices of the increasingly lucrative...
Many individual firms round the country are also feeling the first flush of recovery. In Waltham, Mass., Hewlett-Packard's medical electronics plant reports that orders are up 20% over a year ago, while in Norwood, Mass., Northrop Corp. is expanding its precision products plant to accommodate demand. Officials at Whirlpool Corp. in Michigan report that sales of appliances have been climbing since June...
...lengthening list of giant U.S. corporations, including Exxon, Gulf, Mobil, United Brands and Northrop, had previously admitted to making similar payoffs. The SEC's policy has been to require corporations in such cases to reveal who got their political payments and to agree not to make any more. Some have complied, others are resisting. Last week Ashland Oil Inc. argued that securities laws do not require public disclosure of the recipients of questionable payments that the company says it has made in Nigeria, Gabon, Libya and the Dominican Republic. Ashland has already supplied the names...