21 Apr 12
Originally posted by Metal BrainFrom your link:
ADM was convicted of price fixing
http://www.pbs.org/newshour/bb/business/october96/adm_10-15.html
Archer Daniels Midland, one of the nation's largest agricultural producers pleaded guilty to price fixing, and agreed to pay $100 million infines, the largest criminal antitrust penalty ever. ADM, which calls itself the supermarket to the world, is a $13 billion grain company which produces corn syrup, corn-based fuel, and food and animal feed supplements used in thousands of products. ADM has more processing capacity than any other company in the world. As part of the plea agreement, ADM admitted to price fixing in two of its major products, Lysine used in livestock feed, and citric acid found in soft drinks and detergents.
22 Apr 12
Originally posted by AThousandYoungYou are aware that paying fines is not an admission of guilt as much as a concession that "fighting city hall" is often more expensive and invasive than just paying up, and adding the cost of fines to consumer prices.
From your link:
Archer Daniels Midland, one of the nation's largest agricultural producers pleaded guilty to price fixing, and agreed to pay $100 million infines, the largest criminal antitrust penalty ever. ADM, which calls itself the supermarket to the world, is a $13 billion grain company which produces corn syrup, corn-based fuel, and food and ...[text shortened]... r products, Lysine used in livestock feed, and citric acid found in soft drinks and detergents.
22 Apr 12
Originally posted by normbenignMaybe, but this IS an admission of guilt:
You are aware that paying fines is not an admission of guilt as much as a concession that "fighting city hall" is often more expensive and invasive than just paying up, and adding the cost of fines to consumer prices.
ADM admitted to price fixing in two of its major products
23 Apr 12
Originally posted by AThousandYoungNo, they copped a plea. American price fixing laws are absurd. You may be charged with setting prices too high, too low, or the same as. In short it doesn't matter what you do, if you sell stuff, you may be labeled a criminal by our corrupt legal system.
Maybe, but this IS an admission of guilt:
ADM admitted to price fixing in two of its major products