Union of Banana Exporting Countries

In 1974, Colombia, Costa Rica, Ecuador, Guatemala, Honduras, Nicaragua, and Panama joined in an attempt to form a banana-exporting country cartel focusing on exports to the North American market.

Former President of Costa Rica José Figueres stated that Standard Fruit's property should be nationalized if the companies refused to pay the tax.

Standard Fruit threatened the new president, Daniel Oduber that if there were any more threats, the company would pull out of Costa Rica.

[4][5] In 1975, Eli M. Black, the chairman and president of the United Brands Company, jumped to his death from the forty-fourth floor of the Pan Am Building in Manhattan.

When the Securities and Exchange Commission (SEC) investigated Black's suicide, it uncovered a scandal that was named "Bananagate".

The company's Washington law firm, Covington & Burling, asked the U.S. State Department to intervene, arguing that news of the Honduran bribe could harm U.S. relations with that country.

[3] When the bribe was revealed, it provoked the overthrow of the military government in Honduras and this in turn led to the nationalisation of United's railways along with a major divestiture of land by the companies.