Wednesday, March 12, 2014
Bridgestone to plead guilty for auto parts price fix scheme
Unsecured creditors objected to the low valuation, at which point Wanxiang emerged as a serious potential contender for Fisker's assets. Wanxiang is China's largest auto'ponent manufacturer,Isuzu Auto Parts and also bought the assets of bankrupt battery maker A123 Systems. Among the other properties Wanxiang may inherit with its winning bid is the former General Motors plant in Wilmington, Delaware, which formerly built the Pontiac Solstice and Saturn Sky roadsters. The second,Lululemon Women's Pants smaller Fisker Atlantic sedan was planned to be built at that plant. It's unknown what Wanxiang's future plans are for the brand, but it's clear the'pany is seeking to increase its presence in the U.S. auto market.
Japan's Bridgestone Corp has agreed to plead guilty and to pay a $425 million criminal fine for its role in a conspiracy to fix prices on certain automotive parts, the U.S.canada goose jacket women Department of Justice said on Thursday.The case involved anti-vibration rubber parts sold in the United States and elsewhere to Toyota Motor Corp., Nissan Motor Corp., Fuji Heavy Industries Ltd., Suzuki Motor Corp., Isuzu Motors Ltd. and certain of their subsidiaries and affiliates.Law enforcement authorities in the United States and elsewhere have so far brought price-fixing cases related to auto parts ranging from seat belts to power window motors.Including Bridgestone, 26'panies have pleaded guilty or agreed to plead guilty to price fixing or bid rigging.Nike Air Max The investigation has levied more than $2 billion in fines.
In October 2011, Bridgestone pleaded guilty and paid a $28 million fine for price-fixing and Foreign Corrupt Practices Act violations in the marine hose industry.It did not disclose at the time of the plea that it had also participated in the anti-vibration rubber parts conspiracy,Wholesale Lingerie Sexy Lingerie the Department of Justice said, and that failure to disclose was a factor in determining the latest fine."The Antitrust Division will take a hard line when repeat offenders fail to disclose additional ant'petitive behavior," said Brent Snyder, Deputy Assistant Attorney General for the Antitrust Division's criminal enforcement program.Construction began last year in the footprint of a former shopping strip that was built in 1970 and had recently housed Kmart and other retailers. Kmart opened there in 1998 and closed in December 2012. Most of the shopping center was demolished.