Gibson Guitar Settles Case Over Imported Wood

Aug 7, 2012
Originally published on August 8, 2012 2:39 pm
Copyright 2018 NPR. To see more, visit http://www.npr.org/.

STEVE INSKEEP, HOST:

And today's last word in business is a deal with some strings attached. You have no idea yet what a terrible pun that is. The final notes have been played in a criminal case federal prosecutors brought against Gibson Guitar Corporation.

The Justice Department is dropping its charges against the guitar maker for illegally buying and importing exotic wood - specifically, ebony from Madagascar and rosewood and ebony from India. The company will pay a penalty of $300,000 and give another $50,000 for conservation efforts.

In a statement about this settlement, the CEO said settling was more cost-effective than proving Gibson's case at trial.

And that's the business news on MORNING EDITION, from NPR News. I'm Steve Inskeep.

RENEE MONTAGNE, HOST:

And I'm Renee Montagne. Transcript provided by NPR, Copyright NPR.