ADM fined $16-million in price-fix case

Article Abstract:

Archer-Daniels-Midland Co. (ADM), a food products firm based in Decatur, IL, has been ordered to pay C$16 million in fines for conspiring to manipulate prices in Canada. The conspiracy is believed to involve other major food companies relating to some essential food additives including citric acid and lysine. ADM, however, is the only company that has been charged so far. ADM pleaded guilty to the same conspiracy accusations in the US market in October 1996 and was fined $100 million in a deal with US antitrust officials. ADM again pleaded guilty for conspiring to fix prices in Canada in a period between 1992 and 1995.

Comment:

Is ordered to pay C$16 million in fines for conspiring to manipulate prices in Canada

Government regulation (cont), Food & Kindred Products, Food Manufacturing, Article, Archer-Daniels-Midland Co.

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Banks to pay record fine in U.S. mutual fund scandal

Article Abstract:

The Bank of America and FleetBoston Financial agreed to pay $675-million over allegations of mutual fund industry abuses. This deal was negotiated by New York Attorney-General Eliot Spitzer and the Securities and Exchange Commission (SEC) and also includes a reduction in fees and resignation of eight members of the Bank of America's Nations funds of directors to resign.

Commercial Banks, Banking industry, Discipline, BankAmerica Corp., FleetBoston Financial

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Pension crisis fears deepen as US Air seeks to skip contributions

Article Abstract:

US Airways Group Inc. is working hard to get permission from bankruptcy courts to skip $100-million (US) in pensions contributions. The US airline may have to terminate the pensions plans for machinists and flight attendants enforcing the US government-owned Pension Benefit Guaranty Corp. (PBGC) to take over.

Organizational history, Air Transportation, Scheduled, And Air Courier Services, Airlines, Pension funds, Company restructuring/company reorganization, Reorganization and restructuring, US Airways Group Inc., Bankruptcy, Company organization, Company bankruptcy, Pension fund termination

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