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...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...
...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 of the antitrust inquiries because it is a $3 billion market and accounts for about 30 percent of ADM...
...with contributor Dwayne Andreas, the chairman of agribusiness giant Archer Daniels Midland. Andreas, along with his company and members of his clan, has provided more than $475,000 for Dole's operations since 1979. Dole has proudly called himself "Senator Ethanol" in honor of the corn-based fuel that ADM produces and that Dole has long protected with tax subsidies. But Dole has also played a crucial role in making the sweetener market profitable for ADM by championing the sugar price-support program. ADM is the world's largest producer of high-fructose corn syrup, a sugar substitute; the higher...
TAKING AIM AT ADM...
...take on a new task in Bosnia this week as peacekeepers will provide security for U.N. war crimes investigators. NATO's commander in Bosnia does not expect any major confrontations during the search for mass graves and other atrocities near Srebrenica, in eastern Bosnia. 'There may be some demonstrations," Adm. Leighton Smith said. "This obviously is a very emotional issue. But I don't anticipate that there will be problems" for the American troops. The investigators will begin examining graves on Tuesday for planned excavation. Reports that thousands of Bosnian Muslims were slaughtered by Bosnian Serbs near Srebrenica helped trigger...