Word: steeling
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Dates: during 1980-1989
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...cheap credits (just under 8%, vs. going commercial loan rates of about 15%) from the four major Western European countries involved in the project: West Germany, France, Italy and Britain. In exchange, industries in these countries are being rewarded with huge contracts to supply everything from 56-in. steel pipe to computerized monitoring systems...
...week when still another Japanese company became ensnared in an American criminal prosecution. In San Francisco the U.S. subsidiary of Mitsui & Co., Ltd. (1981 sales: an estimated $45 billion), one of Japan's largest trading companies, pleaded guilty to a 21-count customs fraud indictment in connection with steel exports to the U.S., and agreed to pay $11.2 million in civil and criminal fines. The penalties against the company, which handles about 40% of Japanese steel sales in America, were the heaviest in the 193-year history of the U.S. Customs Service...
...latest case, the federal grand jury accused Mitsui & Co. (U.S.A.), Inc., and three of its employees of deliberately overstating steel prices. Some American firms paid Mitsui the higher amounts, but then received refunds on part of the sales price. The figures were exaggerated to avoid triggering a U.S. investigation into possible steel dumping...
...customs agents in San Francisco. Investigators searched company offices in New York City and San Francisco in December 1980, and ultimately combed through stacks of records and import statements dating from 1977 to last June. The hunt turned up evidence that Mitsui had conspired with two Northern California steel buyers to overstate the price of wire products and nails. Both U.S. firms last year pleaded guilty to criminal charges brought in separate cases...
Clustered inside the wedge-shaped steel-and-glass pavilion are 42 TV screens connected to 42 Sony videodisc machines, which are hooked up to 23 Apple II computers. Nine video stations on the ground floor explain the meaning of 480 energy-related terms. Don't know what a Pelton wheel is? Press the word on the screen, and presto!, a swirling water turbine appears. A different set of screens shows a colorful cutaway drawing of a house. Wondering how to make your home energy-efficient? Just touch the attic, for example, and watch a demonstration of how to insulate...