High Cost of Slush

In a St. Charles, Mo. court last week, Union Electric Co. of Mo. (a subsidiary of North American Co.) was found guilty of trying to buy the election of candidates opposed to a municipal power plant—one of the uses to which it put a $580,000 political slush fund discovered by SEC two years ago. The penalty: a $175,000 fine, with the company's charter to be forfeited if it ever tinkers with politics again.

...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!