Uncle Charlie's not amused

[Sid Schweiger]

>>"General Tire was maintaining slush funds for such uses as improper overseas payments and questionable campaign contributions," Time later reported (8/24/87), and "allegedly filed false and misleading financial statements." Of particular concern was RKO's lack of candor in reporting these wrongdoings to the FCC.<<

The lack-of-candor issue aside (and that will get virtually any broadcast license yanked rather quickly), the government completely ignored the fact that such "improper payments" are a necessary cost of doing business in numerous countries.  To put it bluntly, you don't move things along without greasing the right palms.  Chances are General Tire had an accountant who didn't know how to hide such things from the government, and got caught, but for the governemnt to apply American standards to other countries is just plain dumb.



Sid Schweiger
MIS Manager, Entercom Boston LLC
WAAF - WEEI - WQSX - WRKO - WVEI
20 Guest St / 3d Floor
Boston MA  02135-2040
Phone: 617-779-5369
Fax: 617-779-5379
E-Mail: sid@wrko.com