Word: chiquitas
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Dates: during 1970-1979
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...Competition Department of the European Economic Community fined the company $1.2 million for "an abuse of dominant position" in the banana market* and ordered an immediate 15% price rollback in five of the nine EEC countries. Key findings: United Brands priced unfairly by charging twice as much for Chiquita bananas in rich markets such as West Germany as in less prosperous ones, notably Ireland. Penalty for-noncompliance with the order: an additional fine...
Booth steps into one of the hottest spots in U.S. business. United Brands lost $47 million in 1974 (on sales of more than $2 billion), as both of its main businesses-John Morrell & Co., a meatpacking firm, and Chiquita bananas -turned down. The losses were caused chiefly by Hurricane Fifi, which destroyed 70% of United Brands' banana crops in Honduras, and a sharp rise in the cost of cattle feed...
...simultaneously. In Washington, federal energy officials confirmed suspicions that overcharges by oil suppliers during last year's period of Arab embargo and shortage had cost consumers hundreds of millions of dollars, much of which the Government has ordered refunded. In New York City, United Brands, famous for its Chiquita bananas, admitted bribing officials of Honduras, setting off an uproar that threatens government stability in that country. In Tel Aviv, the indictment of a highly placed Israeli executive on charges of siphoning cash out of the country opened up a story of troubles in a Geneva bank that could cause...
...other than the chief of state of the country, Oswaldo Lopez Arellano. The bribe was offered in order to win a reduction in a 500 export tax on every 40-lb. box of the bananas that United Brands grows in Honduras and sells in the U.S., mostly under the "Chiquita" trademark. The company's statement said that Black had authorized the bribe and another of equal size that was to have been paid later. The payments were made by foreign subsidiaries of United Brands, whose books had been falsified to conceal the transactions. United Brands maintained that...
...Godfather II has the ring of authenticity about it. Its mafiosi mix well with the shadier elements of our government--string-tie western senators up to their ears in corruption, concupiscent executives of multinational corporations, opera buffa, Chiquita-banana-republic dictators. Perhaps the perspective is a strange one for most Americans, brought up on The FBI and The Untouchable--seeing the Mafia and the FBI as merely two competing organizations, more like Macy's and Gimbel's than good and evil. But The Godfather II is not a morally subversive movie--nobody would want to be Michael Corleone after seeing...