A steel firm pleads guilty
Into the columned entrance of the Federal District Courthouse in Manhattan one day last week walked the attorneys of Bethlehem Steel, the nation's second largest steelmaker (1979 sales: $7.1 billion) and a major ship repairer. They came on a painfully embarrassing mission. On behalf of their company, they entered a guilty plea to an eleven-page statement of criminal offenses. The charges: during the lean years of tanker building and repair that followed the 1973-74 Arab oil embargo, Bethlehem engaged in a complex conspiracy that resulted in the payment of bribes of at least $400,000 to shipowners and...
To continue reading:
or
Log-In
