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Siemens Escapes with Heavy Fine
benaloy
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3-5-2009 1:47 PM
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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/cc4621d7-abc3-4bb2-949d-7ef5a9623765/316CEBF3-666F-4EC2-9DCC-38F92CAF0180/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do" href="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do" style="font-size: 11px;">www.thisislondon.co.uk</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do"><H2>It’s better to pay a £900m fine than suffer a worse fate</H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do"> <A href="http://www.thisislondon.co.uk/standard-home/related-9434-articles-reviews/Siemens+AG/related.do" title="More on Siemens AG..." class="inform" linkindex="67" set="yes">Siemens</A> was ordered to pay unprecedented penalties just before Christmas in both <A href="http://www.thisislondon.co.uk/standard-home/related-2456-articles-reviews/Germany/related.do" title="More on Germany..." class="inform" linkindex="68" set="yes">Germany</A> and the <A href="http://www.thisislondon.co.uk/standard-home/related-229-articles-reviews/United+States/related.do" title="More on United States..." class="inform" linkindex="69">United States</A>,</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do">pleased to have come through a two-year bribery investigation intact </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do"> dawn raids on the company's offices in Germany and the homes of senior executives in November 2006.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do"><P>The idea of a company commissioning independent lawyers to investigate its own wrongdoing and pass on relevant information for the authorities to verify is more common in the US than it is in Europe.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do"> worldwide bribes to prosecutors in Germany, the US and eight other countries. </blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do">contracts to supply ID cards in <A href="http://www.thisislondon.co.uk/standard-home/related-2371-articles-reviews/Argentina/related.do" title="More on Argentina..." class="inform" linkindex="71" set="yes">Argentina</A>, a mobile telephone network in <A href="http://www.thisislondon.co.uk/standard-home/related-8916-articles-reviews/Bangladesh/related.do" title="More on Bangladesh..." class="inform" linkindex="72" set="yes">Bangladesh</A> and mass transit systems in <A href="http://www.thisislondon.co.uk/standard-home/related-7646-articles-reviews/Venezuela/related.do" title="More on Venezuela..." class="inform" linkindex="73" set="yes">Venezuela</A>.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do">If Siemens had been convicted of bribery, it would have lost public-sector contracts in many parts of the world</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do">It avoided this by pleading guilty</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.thisislondon.co.uk/standard-business/article-23656516-details/It%C2%92s+better+to+pay+a+%C2%A3900m+fine+than+suffer+a+worse+fate/article.do">The actual US fine -"merely" $450 million </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;"> </td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/316CEBF3-666F-4EC2-9DCC-38F92CAF0180/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>
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