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After years of denying any wrongdoing, the company pleaded guilty to conspiring to fix prices for the livestock feed-supplement lysine and for citric acid, an additive found in products from cosmetics to soft drinks. The $100 million fine, the largest ever levied in a criminal antitrust case, was more than six times the amount of the previous record settlement. Further, ADM will pay an additional $90 million to settle civil suits. "In essence, greed, simple greed, replaced any sense of corporate decency or integrity" at ADM, said Joel Klein, the acting Assistant Attorney General for antitrust...

Author: /time Magazine | Title: THE FIX WAS IN AT ADM | 10/28/1996 | See Source »

...Daniels Midland agreed to plead guilty Monday to two criminal price-fixing charges and will pay $100 million in fines. The agribusiness giant had been the target of a four-year long federal investigation into price-fixing in the sale of lysine, a feed supplement for livestock, and citric acid, which is used in soft drinks and detergents. In exchange for the plea agreement, ADM gains immunity against charges of alleged collusion in the sale of high-fructose corn syrup, according to reports the Wall Street Journal. The corn-syrup case was thought to be the most significant...

Author: /time Magazine | Title: Archer Daniels Midland Reaches Plea Agreement | 10/14/1996 | See Source »

...soundtrack of Spike Lee's "Crooklyn" winds out of the stereo, past two full CD towers containing mostly acid jazz and hip-hop and a low, carved wooden endtable from Africa, Washington eases himself into a chair...

Author: NO WRITER ATTRIBUTED | Title: Washington Pays Tribute to History | 10/5/1996 | See Source »

...designed a drug that was 10 times better than Clozaril?" Mount Sinai's Davis, on the other hand, thinks future schizophrenia drugs might well be based on altogether different chemical-messenger systems. "There is evidence that schizophrenics have abnormalities in two very common neurotransmitters, gaba [gamma-aminobutyric acid] and glutamate," he says. "None of the current drugs do anything for the most incapacitating symptom of schizophrenia, the cognitive deficits. Maybe it's time to get off the dopamine merry-go-round we've been on for 40 years...

Author: /time Magazine | Title: TARGETING THE BRAIN | 9/18/1996 | See Source »

...People on DIALYSIS may have a new worry. A study shows that life-spans of patients are reduced about 8% when their machines' plastic filters are routinely sterilized with a common formula, a mixture of peracetic and acetic acid, rather than another cleaner, formaldehyde. One answer is to use new filters (cost: $10 to $75) each time a patient is treated...

Author: /time Magazine | Title: Notebook: Sep. 9, 1996 | 9/9/1996 | See Source »

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