What Can We Learn From The Adm Global Price Conspiracies?
ADM was at the center of two large global price-fixig conspiracies. Buyers were overcharged $116 to $378 million in the United States. Market structure and corporate management style facilitated these cartels. The criminal prosecutions and defendants' legal strategies were both laudatory, but civil plaintiffs were short-changed. ADM has undergone severe management restructuring, but the effectiveness of apprehending global cartels with national legal enforcement is questionable.
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- John M. Connor, 1998. "ARCHER DANIELS MIDLAND:PRICE FIXER TO THE WORLD (Third Edition)," Working Papers 98-10, Purdue University, College of Agriculture, Department of Agricultural Economics.