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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 680.44

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Dec 19 4:00 PM EST

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To: Clint E. who wrote (16568)	6/14/1998 8:36:00 PM
From: j g cordes	Read Replies (1) of 69126

talk about is bribery! Looks like some contracts are not always awarded based on technical & economical issues. I guess American companies need to get with the program and grease the skids the old fashion way!!! Who really knows what's going on.. " IBM execs to face warrants Argentine judge to compel testimony regarding bank corruption scandal June 2, 1998: 7:01 p.m. ET Big payday for IBM chief - March 16, 1998 Bad day for IBJ - Feb. 9, 1998 IBM Corp. More related sites... BUENOS AIRES (CNN) - Two current and two former IBM Corp. executives from the United States soon will face international arrest warrants issued by an Argentine judge in what the local press describes as the country's largest corruption scandal. Judge Adolfo Bagnasco announced he will issue the order Tuesday night or Wednesday to compel the four men to testify in Argentina about the specifics of IBM's $250 million contract to modernize the state-owned Banco Nacion's information technology. The move comes five weeks after a former Banco Nacion executive confessed to having received kickbacks in return for selecting IBM's Argentine unit for the contract. Another former bank executive said the more than $1 million found in a Swiss bank account in his name was a "gift" from IBM, the product of the company's "happiness" with the contract. Argentine experts working on the investigation said the prices charged by IBM in this contract were exorbitant. IBM (IBM) issued a statement defending the four men and lamenting that "the reputation of these four men have been attacked." The statement characterized the accusations as unsubstantiated and said Judge Bagnasco's investigation had failed to produce evidence that Steve Lew, Peter Rowley, Robeli Libero or Marcio Kaiser were aware of any misuse of funds stemming from the Banco Nacion contract. FBI Director Louis Freeh visited Argentina last month and told CNN that both the FBI and the U.S. attorney in New York had investigated the matter. He also stressed the FBI's commitment to assisting Judge Bagnasco's investigation.

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