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ECURITIES LAWS AND DEFENSE

CONTRACTING

IURSDAY, FEBRUARY 28, 1985

HOUSE OF REPRESENTATIVES,
OMMITTEE ON ENERGY AND COMMERCE,
MITTEE ON OVERSIGHT AND INVESTIGATIONS,

Washington, DC.
e met, pursuant to notice, at 10:30 a.m., in room
ise Office Building, Hon. John D. Dingell (chair-

C

2 subcommittee will come to order.
sent for being here.
efore we commence today, a brief opening state-
proceed to read.

of the Rules of the House of Representatives
ummittee responsibility for the Federal securities
2, for the Securities and Exchange Commission,
regulated by that body. The committee and its
nittee are charged with reviewing on a continu-
inistration of laws to ensure that they are ade-
ely enforced.
2 has been growing in the committee has been

financial markets. And the Chair observes that American investor believing in the fundamental es whose securities are traded in those markets. irate, misleading information, or information siders destroys the investor confidence and ultireness of the capital markets of this Nation. Independs upon accurate and timely information, nanagement and a stock market that is fair and

oday's hearing is the General Dynamics Corp., a
curities are listed and traded on the New York
ind various regional stock exchanges, and which
eporting requirements of the Securities and Ex-
n. For some time, a number of allegations have
e fore involving the company and Federal securi-
have been circulating rather widely.
o, this subcommittee

began looking at these alletime, the subcommittee has received documents, ordings, interviewed witnesses, and reviewed incted by the SEC, the Department of Justice, and ient into various aspects of the company's activi

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COMMITTEE ON ENERGY AND COMMERCE

JOHN D. DINGELL, Michigan, Chairman JAMES H. SCHEUER, New York

JAMES T. BROYHILL, North Carolina HENRY A. WAXMAN, California

NORMAN F. LENT, New York TIMOTHY E. WIRTH, Colorado

EDWARD R. MADIGAN, Illinois PHILIP R. SHARP, Indiana

CARLOS J. MOORHEAD, California JAMES J. FLORIO, New Jersey

MATTHEW J. RINALDO, New Jersey EDWARD J. MARKEY, Massachusetts

WILLIAM E. DANNEMEYER, California THOMAS A. LUKEN, Ohio

BOB WHITTAKER, Kansas DOUG WALGREN, Pennsylvania

THOMAS J. TAUKE, Iowa BARBARA A. MIKULSKI, Maryland

DON RITTER, Pennsylvania AL SWIFT, Washington

DAN COATS, Indiana MICKEY LELAND, Texas

THOMAS J. BLILEY, JR., Virginia RICHARD C. SHELBY, Alabarna

JACK FIELDS, Texas CARDISS COLLINS, Illinois

MICHAEL G. OXLEY, Ohio MIKE SYNAR, Oklahoma

HOWARD C. NIELSON, Utah W J. "BILLY" TAUZIN, Louisiana

MICHAEL BILIRAKIS, Florida RON WYDEN, Oregon

DAN SCHAEFER, Colorado
RALPH M. HALL, Texas

FRED J. ECKERT, New York
DENNIS E. ECKART, Ohio
WAYNE DOWDY, Mississippi
BILL RICHARDSON, New Mexico
JIM SLATTERY, Kansas
GERRY SIKORSKI, Minnesota
JOHN BRYANT, Texas
JIM BATES. California

WM. MICHAEL KITZMILLER, Staff Director
SHARON E. Davis, Chief Clerk/Administrative Assistant

DONALD A. Watt, Printing Editor
ARNOLD I. HAVENS, Minority Counsel

SUBCOMMITTEE ON OVERSIGHT AND INVESTIGATIONS

JOHN D. DINGELL, Michigan, Chairman RON WYDEN, Oregon

JAMES T. BROYHILL, North Carolina DENNIS E. ECKART, Ohio

BOB WHITTAKER, Kansas JIM SLATTERY, Kansas

THOMAS J. BLILEY, JR., Virginia GERRY SIKORSKI, Minnesota

MICHAEL G. OXLEY, Ohio JAMES H. SCHEUER, New York

MICHAEL BILIRAKIS, Florida JAMES J. FLORIO, New Jersey

DAN SCHAEFER, Colorado
THOMAS A. LUKEN, Ohio

FRED J. ECKERT, New York
JOHN BRYANT, Texas
HENRY A. WAXMAN, California
RICHARD C. SHELBY, Alabama

MICHAEL F. BARRETT, Jr., Chief Counsel/Staff Director

PETER D.H. STOCKTON, Research Analyst

JEFFREY L. HODGES, Research Analyst
THOMAS J. LYKOS, Associate Minority Counsel

(II)

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