FarmTrac Troubles

[taxpayer]

Rep. Segal Resolution Calls for Textron Apology for Iraq Corruption
by: Matt Jerzyk
Thu Jan 17, 2008 at 12:49:00 PM EST
State Rep. David Segal, who represents the district including Textron's headquarters, is introducing a bipartisan resolution condemning Textron's bribery of ****** Hussein's regime.

The resolution condemns Textron's payment of $650k in kickbacks to ****** Hussein's
regime from 2001-2003 under the United Nations Oil for Food Program. For their actions, Textron was fined $4.7 million by the Securities and
Exchange Commission in 2007.

The resolution calls on Textron to issue a public apology to "the people of Rhode Island, the people of Iraq, and the people of the world for its payment of such kickbacks." It is co-sponsored by Republicans Victor Moffitt, Joe Amaral and Democrats Al Gemma and Anastasia Williams

Here's the best part:

"My goal is simply to make as many people as possible aware of this sordid affair. It has little to do with whether one supports or opposes the war in
Iraq. It's not a partisan issue -- it's a matter of basic humanity," Segal said.

He continued, "I must commend Textron for showing such restraint in the face of the introduction of this resolution, for while Textron has made its opposition known to me through surrogates, the company has neither attempted to bribe me, nor blow me up using any of the wide array of weapons it manufactures

http://www.rifuture.org/showdiary.do?diaryid=1228&view=print

 

[blueliner]

TAXPAYER,

Thank you for sharing that information. You're maximizing what a public forum is about!

Click here for a related article with added details or read below.

Textron to pay $4.6 mln to settle kickback probe
Thu Aug 23, 2007 12:53pm EDT

(Adds DOJ settlement, company comment)

WASHINGTON, Aug 23 (Reuters) - Textron Inc (TXT.N: Quote, Profile, Research, Stock Buzz), which makes products like Bell helicopters and Cessna corporate jets, agreed to pay $4.6 million to settle oil-for-food kickback investigations and charges, U.S. regulators said on Thursday.

The company agreed to pay more than $3.5 million to settle charges with the U.S. Securities and Exchange Commission. It also agreed to pay a $1.15 million fine as part of the Department of Justice's investigation into the United Nations oil-for-food program.

The justice department said it agreed not to file criminal charges against the Providence, Rhode Island-based company "in recognition" of Textron's early discovery and reporting of the improper activities.

The SEC alleged that from 2001 to 2003, two of Textron's French units paid $650,539 in kickbacks in connection with the sale of humanitarian goods to Iraq under the U.N. program.

"The kickbacks were made in the form of 'after-sales service fees,' however, no bona fide services were actually rendered," the SEC said.

According to a court document filed by the SEC, the kickbacks paid by Textron's units bypassed the U.N. escrow account and were instead paid by third parties to Iraqi-controlled accounts.

The contracts submitted to the U.N. did not disclose that the cost of the illicit payments were included in the inflated contract price.

Textron's subsidiaries also made illicit payments of $114,995 to secure 36 contracts in Bangladesh, Egypt, India, Indonesia and the United Arab Emirates from 2001 to 2005, the SEC said.

The justice department said Textron acknowledged responsibility for the actions of its French units.

The company did not admit or deny wrongdoing as part of the SEC settlement.

It agreed not to violate a number of U.S. securities laws and said it has enhanced its compliance policies and procedures. Textron said the amount of $4.6 million has been "fully provided for in prior periods."

"Textron takes compliance matters very seriously and is pleased that the DOJ and SEC commented favorably on Textron's early discovery and reporting of these matters," the company said in a statement.

(Reporting by Rachelle Younglai)

((Editing by Brian Moss; rachelle.younglai@reuters.com; Reuters Messaging: rachelle.younglai.reuters.com@reuters.net; +1 202 898 8411)) Keywords: SEC TEXTRON/

 

[blueliner]

TAXPAYER and Company,

Here's another one... it shows more Evil Empire nasty-wasties.
Click here to view them.
And here's the U.S. Securities and Exchange Commisson's take on it.

Here's the 35-page SEC complaint that was filed -- in it's entirety.

--b

 

[redneckford]

TAXPAYER,

Thank you for sharing that information. You're maximizing what a public forum is about!

According to a court document filed by the SEC, the kickbacks paid by Textron's units bypassed the U.N. escrow account and were instead paid by third parties to Iraqi-controlled accounts. (Can you fill in the blanks with Cobb and Escorts)

The justice department said Textron acknowledged responsibility for the actions of its French units.(India Units)??

The company did not admit or deny wrongdoing as part of the SEC settlement.(yeah Right!!!!) Things Happen!!!!

It agreed not to violate a number of U.S. securities laws(only a few more times) and said it has enhanced its compliance policies and procedures. Textron said the amount of $4.6 million has been "fully provided for in prior periods."(I think we owe a little bill in Korea and India)

"Textron takes compliance matters very seriously(When caught red handed) and is pleased that the DOJ and SEC commented favorably on Textron's early discovery and reporting of these matters," the company said in a statement.

Will someone PLEASE Call Rhode Island and tell the big wigs at Textron the fish are at it again!!!! According to this report they like someone to report illegal activities----I'm sure they will get right on it and clear this mess up in a few days!!!!!????? With Accountants like they have no telling how much corn on the Cobb was spread around North Carolina!!!! It is beginning to add up-----1 crook + 1 Blind Accountant= 2 Big Profits---Dang if it would just add up to three I think the dealers and customers would be happy!!!!

 

[redneckford]

Rep. Segal Resolution Calls for Textron Apology for Iraq Corruption
by: Matt Jerzyk
Thu Jan 17, 2008 at 12:49:00 PM EST
State Rep. David Segal, who represents the district including Textron's headquarters, is introducing a bipartisan resolution condemning Textron's bribery of ****** Hussein's regime.

He continued, "I must commend Textron for showing such restraint in the face of the introduction of this resolution, for while Textron has made its opposition known to me through surrogates, the company has neither attempted to bribe me, nor blow me up using any of the wide array of weapons it manufactures

Rhode Islands Future: Politics & Culture

Taxpayer----they ain't gonna sue you---cause they don't want you on the stand telling the truth-----They just going to double your discounts(I mean Invoices) and double your interest bills----Surrogates????---Bribes!!!!!! BLOWED UP SIR!!!!!!!!!!-----Care for a plane ride on my new corporate jet!!!!

 

[redneckford]

Trying to update my Christmas card list---can someone post the names and addresses of all the Textron Brass---and fish--so that I can get my cards mailed out in a timely manner-----would make a good subpoena list too!!!

 

[taxpayer]

--------------------------------------------------------------------------------

TAXPAYER,

Thank you for sharing that information. You're maximizing what a public forum is about! have to give Tommy B credit for that juicy tidbit,sniffed it out like a real pro.
that senator might be a little more inclined to hear out the farmtrac saga.
than some of the others we tried.
Hey Red, how'd you come out with ole IKE?slicked right on through up here.---Taxpayer

 

[redneckford]

taxpayer---never lost lights at the tractor shop---none at home for a free days---these hurricanes are starting to make me mad---so we gonna stay at the shop for a free days---more time to harass Big T-----Textron send you one of those nice checks yet!!!-----Doubt they will they "Hate" the truth!!!!! Did you take a few of them blue ornaments to Cameron----10 ft of water down town---Heck Lake Charles had 4 ft of water all over town and around the Civic City due to the ?20 ft storm surge!!!! Calcasieu is a mess due mainly to the surge but Cameron and Hackberry are hit better hard due to high surge---salt water and paint work pretty well together---didn't I see alot of those blue tractors on ZNN being used as water gauges----3ft and raising momma---5 ft and climbing momma----dang momma the water is over the house that ain't in no song!!!!!

 

[case1570]

Good Morning Textron, Department of Financial Institutions is now conducting a review and investigation. Got direct word this morning confirming such! Litigation coming. How low will textron stock end up this time?
Keep calling and filling out complaints, things are starting to happen!

The best Case.......LS buys Farmtrac, LTZ customers get paid, Textron found guility, pays big fines and several crooked textron people lose their jobs and have to live like most of us have for the last 6 months. Hey Textron how about that for positive?
Case

 

[SESS]

Fraud is fraud-is fraud-is fraud no matter how you look at it:

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