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RAM Manufacturers Fined for Price Fixing
TufelKinder writes "From Law.com: 'In the largest fine ever obtained by San Francisco antitrust prosecutors, a Korean company has agreed to plead guilty and pay $185 million for its role in a conspiracy to drive up the price of computer chips.' Micron and Infineon have also been fined for their role in the scheme." From the article: "It's the third-largest fine of its kind in the United States, and it could be just a preview of even bigger penalties. The far-reaching computer chip investigation, which alleges wrongdoing from 1999 through 2002, affects thousands of consumers."
It was like RAM was a commodity. I was buying RAM on huge price drops on Pricewatch and selling a few sticks a couple months later when the price ran back up on Ebay. It was great. I wasn't aware that it was just a Korean issue though, I thought some Hong Kong and Taiwan companies were involved.
Following links have more info:
http://tinyurl.com/8umy3
http://tinyurl.com/b4k7m
What evidence do you have that the gas companies are price fixing? That gas is expensive? It's a finite resource in high demand. Welcome to the way economics works. The infrastructure to drill for, transport, and refine oil into gasoline costs billions of dollars, and yet how much do you pay per gallon for bottled sugar water? Not to mention that here in the US ~$.30/gallon is tax...
Um, the government can do more than one thing at a time. So, you think the Japanese company should've gotten away with the price fixing, then?
One man's Funny is another man's Offtopic.
Ram...korean company...it has been a long week but I could have sworn that Dodge is an American company. Just kidding. However...why do we never learn where these huge fines go? I mean, $160 million is a fair amount of money and I'm certain someone will enjoy collecting it. sadly, i will still be working away without receiving a cent.