Reported by Star-Bulletin staff & wire
Friday, October 10, 1997
ADM whistleblower pleads guilty to fraud
URBANA, Ill. -- The former Archer Daniels Midland Co. executive who secretly recorded conversations that snared the company in a global price-fixing case pleaded guilty today to swindling ADM out of $9 million.Mark E. Whitacre pleaded to 37 counts, including wire fraud, conspiracy, money laundering, interstate transportation of stolen property and filing a false income tax return. Sentencing was set for Jan. 13. Prosecutors said they wanted Whitacre to serve at least 61/2 years in prison -- a small fraction of the maximum sentence.
Report: Daiei profits half what projected
TOKYO -- Daiei Inc., Japan's largest supermarket chain operator, appears to have earned a profit less than half of what it expected for the six months ended in August, the Nihon Keizai Shimbun reported .For the period ended Aug. 31, Daiei's unconsolidated operating profit totaled some 5 billion yen ($41 million), up 29% from the same period a year before, the leading business newspaper estimates. This is, however, far below the 11.5 billion yen ($90 million) the company had projected.
Government recalling child seats for cars
WASHINGTON -- The government is recalling more than 35,000 Evenflo Sidekick auto booster seats because they do not meet federal safety standards.The recall announced yesterday by the National Highway Traffic Safety Administration involves booster seats with model numbers beginning with 244, manufactured between April 23, 1996, and May 20, 1997, the agency said.