Editing Lockheed Corporation (section)

===Bribery scandals===
{{main|Lockheed bribery scandals}}
The Lockheed bribery scandals were a series of illegal [[bribery|bribes]] and contributions made by Lockheed officials from the late 1950s to the 1970s. In late 1975 and early 1976, a subcommittee of the [[U.S. Senate]] led by Senator [[Frank Church]] concluded that members of the Lockheed board had paid members of friendly governments to guarantee contracts for military aircraft.<ref>{{cite web|url=http://www.fjs.de/faq5.html |title=Fragen zur politischen Biographie |website=Franz Josef Strauß |language=de |archive-url=https://web.archive.org/web/20100121151324/http://www.fjs.de/faq5.html |archive-date=January 21, 2010 |url-status=dead }}</ref> In 1976, it was publicly revealed that Lockheed had paid $22&nbsp;million in bribes to foreign officials<ref>[https://web.archive.org/web/20071117045634/http://www.time.com/time/magazine/article/0,9171,917751-1,00.html "Monday, August 18, 1975."] ''Time magazine'', August 18, 1975. Retrieved: September 30, 2011.</ref> in the process of negotiating the sale of aircraft including the F-104 Starfighter, the so-called Deal of the Century.<ref>"In 1962 Lockheed Corporation made the deal of the century by selling West Germany three hundred and fifty F-104 Starfighters..." Paul Emil Erdman, ''The last days of America'': G.K. Hall, 1982 {{ISBN|0-8161-3349-2}}, p 24</ref>

The scandal caused considerable political controversy in [[West Germany]], the [[Netherlands]], Italy, and Japan. In the US, the scandal led to passage of the [[Foreign Corrupt Practices Act]], and nearly led to the ailing corporation's downfall (it was already struggling due to the poor sales of the [[Lockheed L-1011|L-1011]] airliner). Haughton resigned his post as chairman.<ref>{{Cite web|url=https://www.nytimes.com/1976/02/14/archives/2-lockheed-officials-quit-haack-is-interim-chairman-2-top-lockheed.html|title=2 Lockheed Officials Quit; Haack Is Interim Chairman|last=Lindsey|first=Robert|date=February 14, 1976|website=N.Y. Times}}</ref>