In a report released earlier this week, USA Today revealed that Bermuda-based Tyco International spent hundreds of thousands of dollars this year on lobbyists employed to oppose Congressional moves to impose a federal contract ban on US companies which have chosen to relocate offshore.
Citing newly released Congressional records, the news service revealed that Tyco spent at least $270,000 on the tax-issue lobbying, employing Senator Bob Dole's firm, Bob Dole Enterprises as one among several 'hired guns'.
The newspaper went on to stress the importance of the issue to the beleaguered firm, revealing that the company held more than $206 million in federal government contracts during fiscal 2001.
Speaking to USA Today earlier this week, however, Tyco spokesman, Gary Holmes downplayed the revelations, explaining that the five firms hired to represent the company's interests to Congress had all represented Tyco 'for a number of years', on issues unrelated to its offshore activities.
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