Cartel Members Fix Prices On A Global Basis

MARCH 10, 1994

CARTEL MEETING IN MAUI, HAWAII

CARTEL MEMBERS FIX PRICES ON A GLOBAL BASIS

Segment 4 - March 10, 1994, Maui, Hawaii - Video Tape

 UNKNOWN MALE:       (ui).  UNKNOWN MALE:       (ui).  WHITACRE:           Anybody got a calculator?  MIMOTO:             (ui) calculation.    WHITACRE:           This makes it, what does it calculate over 72 cents, isn't it?  YAMAMOTO:           It's 74 cents.  MIMOTO:             74 cents?  YAMAMOTO:           Yeah.  WHITACRE:           74 is it?  YAMAMOTO:           Uhm, seventy now.  WHITACRE:           Good.  Was a week ago.    UNKNOWN MALE:       (ui).   WHITACRE:           (ui)      cents with a...  VETTER:             Is 1.16.  WHITACRE:           1.16.  YAMAMOTO:           72?  74.  VETTER:             72 cents?   YAMAMOTO:           Oh.  No, no, 74.  VETTER:             74?  WILSON:             A $1.16.  VETTER:             74 cents?  A $1.16, yeah?  MIMOTO:             Well...  UNKNOWN MALE:       Oh, that's okay.    WHITACRE:           That's right in the $1.20 is the...  YAMAMOTO:           Um hum...  WHITACRE:           uh, less than truckload price.  VETTER:             Uhm.  Okay so (ui).  WHITACRE:           $1.20 a pound.  VETTER:             Minimum.  UNKNOWN MALE:       (ui)  YUN:                Absolute minimum.  MIMOTO:             Delivered truckload price.  YAMAMOTO:           (ui).   MIMOTO:             But anyway.  YAMAMOTO:           Yes.  MIMOTO:             That's it.  For-for Canada, 1.45.  WHITACRE:           I gave you the price what it is today, this is what we ought to push for.                      I mean it's 3.15, 3.20 right now.  MIMOTO:             Uhm.  WHITACRE:           I think to go to 3.55 is a little heavy right now...  MIMOTO:             From now.  WHITACRE:           in my opinion.  MIMOTO:             From now.  WHITACRE:           Right.  From tomorrow, from tomorrow.  MIMOTO:             Oh.  WHITACRE:           It's already nighttime in Canada.  YAMAMOTO:           (Laughs).  CHAUDRET:           Uh, not on the West Coast.  MIMOTO:             U.S.A.  YAMAMOTO:           (ui).  MIMOTO:             U.S.A.  WHITACRE:           (ui).  YAMAMOTO:           Yeah.  WHITACRE:           U.S.A.'d be the same story.  MIMOTO:             (Clears throat).  WHITACRE:           Well instead of pinpointin' a lot of examples, why don't we?...  Well like                     I told you, we made some mistakes, too, in U.S.A.  3, uh-uh, and we                     took care of it.  The guy that was doin' that.  U.S.A., I think we ought                     to go back, you know our target was a $1.20.  We ought to get it back                     on target.  WILSON:             How far below are ya?  WHITACRE:           At least 10 cents.  WILSON:             Then, I wouldn't go to a $1.20.  VETTER:             No, uh, uh, I think that's a little bit, uh, you were mentioning for Europe,                     I think.  WHITACRE:           Well this is a $1.16 right there in Canada.  VETTER:             Yeah.  Maybe...  WHITACRE:           But...  VETTER:             we should have Canada about, uh...  WHITACRE:           (ui).  VETTER:             1.15, 1.16.  At the same price in the States and Canada.  And going                     back to 1.20, 10 cents up.  WHITACRE:           Delivered price, full truckload.  VETTER:             1.16.  WHITACRE:           1.16, you agree?  WILSON:             A $1.16.  VETTER:             A $1.16...  MIMOTO:             A $1.16 (laughs) huh?  WHITACRE:           Full truckload, a $1.16.  VETTER:             $1.16.  WHITACRE:           Which is the correspondence, same thing in Canadian...  MIMOTO:             Right.  WHITACRE:           price.  VETTER:             Then we are at, then we are at equal...   MIMOTO:             A $1.16.  (ui).  WHITACRE:           (ui).  MIMOTO:             (ui).  WHITACRE:           Delivered.  MIMOTO:             Everyone?  Delivered?  WHITACRE:           Yeah.  VETTER:             Yes, delivered.  YAMAMOTO:           Too big number.  I...  MIMOTO:             Full truckload?  VETTER:             Full truckload.   MIMOTO:             Absolute, absolute...  WHITACRE:           Effective tomorrow.  MIMOTO:             minimum.