10 posts tagged with pricefixing.
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"as serious as rigging Libor"

Retail prices 'rigged for a decade': The European offices of BP and Shell were raided by European officials earlier this week in the beginning of an investigation into allegations of illegal market collusion and price fixing dating back to at least 2002. [more inside]
posted by saulgoodman on May 16, 2013 - 60 comments

Crowning Moment of Awesome; Dethroning Moment of Suck

On the coffee table, he's laid out the iconic name tags he and Linda were given, as well as their green seat assignments for the first of two tapings on September 22, 2008, in the Bob Barker Studio at CBS's Television City: 004 and 005 — right down in front, immediately to the left of the four podiums on Contestant's Row. He has the giant white cue card that a stagehand held up — TERRY KNIESS — because most contestants can't hear announcer Rich Fields telling them to come on down above the sound of the crowd. (Terry couldn't.) He also has the operating instructions for the Big Green Egg, "The World's Best Smoker and Grill," which Terry won with a perfect bid of $1,175 from Contestant's Row. It's by the pool out back, and Terry agrees that it's awesome. He has Linda's passport out, just in case, and their marriage certificate, dated April 7, 1972. "I know I would ask to see it," he says.
A great Esquire article about the only perfect Showcase bid in the history of The Price is Right. [more inside]
posted by kipmanley on Jul 12, 2010 - 59 comments

Rise and Fall of a Tomato Empire

Scott Salyer transformed the family business into one of the largest providers of processed tomatoes in the US. Apparent business success descended into family infighting, scandal, and bankruptcy. Earlier this month he was arrested and charged after a federal investigation charged him with orchestrating a massive price fixing conspiracy as CEO of SK Foods [more inside]
posted by humanfont on Feb 21, 2010 - 7 comments

Air Filter

Airway Robbery. Another summer, another disaster for British Airways. The company has just received the largest fine ever issued by Britain’s competition agency (nearly £270m / $547m) for price fixing on fuel surcharges. BA admitted to colluding with rival airline Virgin Atlantic (who won immunity in the UK) on at least six occasions. The allegations are thought to be linked to the resignation of commercial director Martin George and communications chief Iain Burns. Although BA said fuel surcharges were "a legitimate way of recovering costs", in May 2007 it put aside £350 million for legal fees and fines. Criminal proceedings against individuals in both countries are a distinct possibility.
posted by chuckdarwin on Aug 1, 2007 - 19 comments

Class action CD lawsuitchecks mailed.

As Attorney General for the State of North Dakota, I am pleased to enclose payment for your claim in the settlement of the Compact Disc Minimum Advertised Price Antitrust Litigation.
Checks have gone out to people who "purchased prerecorded Music Products, consisting of compact discs, cassettes and vinyl albums, from one or more retailers during the period January 1, 1995, through December 22, 2000." Mine was for $13.86. I think I'll go buy an indie CD.
posted by travis on Feb 24, 2004 - 24 comments


Music labels charged with price-fixing ... again While their organization is fighting hard to picture potential consumers as de-facto delinquents, the FTC has issued a rulign prohibitng them from agreeing with competitors to fix the prices or restrict the advertising of products they produced independently . The labels deny any wrongdoing, as they did with earlier FTC charges of a much larger price-fixing scandal that cost consumers an estimated $480 million (and was settled by paying 41 suing states $67.4 million in cash and offering $75.7 million in CDs.). Here is an idea: the main culprits of the labels losses, by far, are the rapidly receding sales of ... cassette, LP and vinyl products. Who'd have thought of that?
posted by magullo on Jul 31, 2003 - 12 comments

Music compact disc distributors, retailers settle price fixing suit.

Music compact disc distributors, retailers settle price fixing suit. But they're still busting our chops for downloading MP3s. This is ammo to Kazaa or WinMX the SOBs into submission, I say. What share of this cash will actually benefit consumers? By the way, part of the press release at the AG's site may be cut off. It's the bottom of the first page: Today’s settlement has three major components: 1. Sales Practice Changes. Defendants have agreed to an injunction preventing them from forcing retailers to increase CD prices and encouraging price competition between them.
posted by stevefromsparks on Sep 30, 2002 - 7 comments

Do internal memos reveal oil refineries engaged in price-fixing?

Do internal memos reveal oil refineries engaged in price-fixing? From Joshua Micah Marshall's Talking Points memo; links to a Paul Krugman NYT op-ed, but far more intriguingly to Sen. Ron Wyden's (D-OR) webpage, where on June 14th he released his report on alleged price fixing by varied oil refineries based on internal memos and documents of these companies. These types of allegations have been made before, but there is some rather damning language from those internal memos...
posted by hincandenza on Jun 28, 2001 - 4 comments

28 states have filed suit against the five big record companies

28 states have filed suit against the five big record companies and two music retailers for conspiring to fix CD prices. Perhaps sometime in the near future I will actually be able to afford new compact discs. Until then, I'll have to amuse myself by laughing at the RIAA.
posted by sixfoot6 on Aug 8, 2000 - 6 comments

Although this story doesn't sound like much,

Although this story doesn't sound like much, the FTC coming down on Time Warner, the effects could be great. Time Warner has agreed to ban their minimum pricing on featured new CDs, admitting that for the last seven years, these compact discs have been artificially overpriced. Do you think making CDs cheaper for the first time in years had anything to do with all the attention mp3s have been getting from consumers?
posted by mathowie on May 10, 2000 - 5 comments

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