TV News LIES

Thursday, Jun 30th

Last update05:20:13 AM GMT

You are here News Of Special Interest At Siemens, Bribery Was Just a Line Item

At Siemens, Bribery Was Just a Line Item

E-mail Print PDF

Mr. Siekaczek (pronounced SEE-kah-chek) says that from 2002 to 2006 he oversaw an annual bribery budget of about $40 million to $50 million at Siemens. Company managers and sales staff used the slush fund to cozy up to corrupt government officials worldwide.

The payments, he says, were vital to maintaining the competitiveness of Siemens overseas, particularly in his subsidiary, which sold telecommunications equipment. “It was about keeping the business unit alive and not jeopardizing thousands of jobs overnight,” he said in an interview.

Three decades after Congress passed a law barring American companies from paying bribes to secure foreign business, law enforcement authorities around the world are bearing down on major enterprises like Daimler and Johnson & Johnson, with scores of cases now under investigation. Both companies declined comment, citing continuing investigations.

More...


Most Recent Related Stories...


IKEA recalls 36 million chests and dressers after six deaths

Ikea recalls dressersSwedish furniture company IKEA Group [IKEA.UL] is recalling almost 36 million chests and dressers in the...

US Senators kill gun control measures

US Senate votes down gun control lawsSenators voted on four measures -- two Democratic and two Republican -- that would have set...

End of California nuclear era: Last plant to close by 2025

california nuclear plants to close by2025California's last nuclear power plant will close by 2025 under an accord announced Tuesday, ending three...

Southern California wildfire grows to 1,700 acres, evacuations under way

California Sherpa wildfireResidents and visitors near Las Padres National Forest were evacuated Thursday as a wildfire continues to...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!