SCANDALS: Gulf Oil's Misplaced Gifts

It is hardly any secret that corporations currying favor in Washington throw lavish parties at the Burning Tree Golf Club and produce timely gifts for key politicians. But Gulf Oil Corp. seems to have gone further than most. The giant company (1974 sales: $16.5 billion), now the target of four federal investigations, is accused of operating a covert $10 million slush fund for the benefit of some top politicians at home and abroad. The practice directly defies a federal law that forbids corporate donations to politicians running for national office. As a...

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