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    Paul Cantrell (inthehands@hachyderm.io)'s status on Friday, 10-May-2024 04:03:12 JSTPaul CantrellPaul Cantrell
    in reply to

    Re what I said in the replies here: https://hachyderm.io/@inthehands/112411652546933945

    …this feels like that ADM price fixing scandal (https://en.wikipedia.org/wiki/Lysine_price-fixing_conspiracy ) where prosecutors nabbed them because a bunch of high-ups basically got together in a room and said, “OK, cartel meeting called to order. Let’s conspire to fix prices!” — not in so many words, but damned close. No sense they needed to be discreet, no sense that anyone could ever hold them accountable. Totally invulnerable in their own minds.

    In conversationabout a year ago from hachyderm.iopermalink

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      Paul Cantrell (@inthehands@hachyderm.io)
      from Paul Cantrell
      @jonathanpeterson Yeah, it’s not like we don’t know all this exists as an undercurrent — but the nakedness of it, the shamelessness, the brazen magnitude of his demand, the sense of total impunity, all of that truly is shocking.
    2. No result found on File_thumbnail lookup.
      Lysine price-fixing conspiracy
      The lysine price-fixing conspiracy was an organized effort during the mid-1990s to raise the price of the animal feed additive lysine. It involved five companies that had commercialized high-tech fermentation technologies, including American company Archer Daniels Midland (ADM), Japanese companies Ajinomoto and Kyowa Hakko Kogyo, and Korean companies Sewon America Inc. and Cheil Jedang Ltd. A criminal investigation resulted in fines and three-year prison sentences for three executives of ADM who colluded with the other companies to fix prices. The foreign companies settled with the United States Department of Justice Antitrust Division in September through December 1996. Each firm and four executives from the Asian firms pleaded guilty as part of a plea bargain to aid in further investigation against ADM. The cartel had been able to raise lysine prices 70% within their first nine months of cooperation. The investigation yielded $105 million in criminal fines, a record antitrust penalty at the time, including a $70 million fine against ADM. ADM was fined an additional $30 million for its participation in a separate conspiracy in the citric acid market and paid a total...
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