Business Ethics: Price Fixing (Contd.)

Before the Senate subcommittee investigating the great electrical price-fixing conspiracy, the boss of the nation's second biggest electrical company last week was both contrite and positive. Mark W. Cresap Jr.. president of Westinghouse Electric Corp., denied any personal knowledge of the conspiracy, but accepted his "share of the responsibility" and promised to make "law abidance, ethical business conduct and integrity the way of life at Westinghouse." Cresap's reaction to the whole "sorry" episode: "I hope the long-run results will be constructive and wholesome for the entire industry." Coals & Cricket. By...

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