Word: bribing
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...company has had no leader since the February suicide of Chairman Eli M. Black, who had created United Brands in 1970 by merging his own AMK Corp. with United Fruit Co. A Securities and Exchange Commission investigation into Black's death uncovered a $1.25 million bribe United Brands had paid to a high official in Honduras in order to win a reduction in export taxes on bananas (TIME, April 21).* Last week the company disclosed that the U.S. Attorney in New York had subpoenaed documents relating to other possible payoffs in Italy, West Germany, Panama and Costa Rica...
...refugee tent city at Eglin Air Force Base in Florida is afraid of "tropical diseases floating around." Right-wingers worry that there might be Communists among the refugees; those who opposed the war suspect that too many are corrupt generals and profiteering businessmen who were able to push or bribe their way to safety...
...chairman of United Brands Co., plunged to his death from his 44th-floor Manhattan office. Early last week General Oswaldo López Arellano, 53-year-old Honduran chief of state, was overthrown in a bloodless coup. The link between the two men was an alleged $1.25 million bribe that is now being investigated by both the U.S. Securities and Exchange Commission and a Honduran commission...
...doubted he would be convicted. Asked why a man of Cornally's wealth would risk his career for a piddling $10,000, one politician replied "John would think of that as a legal fee to which he was entitled. He wouldn't think of it as a bribe." The white knights of the Special Prosecutor's Office had toppled one Nixon crony after another, and Connally looked like merely another transgressor of the public trust, caught red-handed...
...business penalties for United Brands could far exceed any legal ones. At least two shareholders have already filed suit asking that the bribe money be repaid to the company by its board or by Black's estate. Publicity about the bribes could easily lead Honduras to expropriate the company's plantations, which supply about 16% of the bananas that United Brands sells...