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Exxon / Italian Politics / Senate #241006

CBS Evening News for Wednesday, Jul 16, 1975
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(Studio) Exxon spent $27 million to pay off Italian pols. over 9 years and unknowingly paid $19 million more.
REPORTER: Walter Cronkite

(DC) [Senator Frank CHURCH - says corruption eating away vitals of West society.] Exxon controller, Archie Monroe, says corruption by secret pol. gifts in Italy fault of 1 man. Says head Exxon Italian subsidiary led company to believe such payoffs customary. [CHURCH - asks if that advice wasn't questionable.] [MONROE - says his word was accepted that this was proper In retrospect, it was mistake.] Italian chief fired. False bookkeeping and secret bank accounts involved. $86,000 went to Italy's Communist party [Senator Stuart SYMINGTON - says many execs. think more of company than cntry.] Mobil and Lockheed testify Thursday
REPORTER: Barry Serafin

Reporter(s):
Cronkite, Walter;
Serafin, Barry
Duration:
00:02:00

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