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Samsung To Pay Out $300 Million In Anti-Trust Suit
infernalC writes "Reuters is reporting that Samsung has agreed to plea guilty to charges of price fixing in the memory market in a $300 million settlement." From the article: " Samsung would become the third chip maker to plead guilty in the wide-ranging probe of the prices of dynamic random access memory, or DRAM, chips. The Justice Department has blamed the price-fixing conspiracy for driving up the price of chips used in products ranging from personal computers and servers to cell phones, cameras and game consoles."
This may enrich the justice department, computer companies, and/or their shareholders, but how does it help me?
"It's the height of ridiculousness to say for those 9 lines you get hundreds of millions."
I always wonder how much these fines really hurt mega-corps. If they were able to control prices so effectively that they were accused of price-fixing, then the potential profits from that enterprise would be in the billions.
Seems like these fines are just the cost of doing business. I'm sure that $300M is a lot less than their manufacturing charges, or even their advertising expenses.
"Rocky Rococo, at your cervix!"
The real question here seems to be, "Will Samsung actually change their practices?" In many high-profile anti-trust cases, it seems that the government will fine the company involved, but then the company goes back to the same old tactics of price fixing and other monopolistic behavior. How does the DOJ propose to prevent Samsung from illegal tactics in the future?
Who will tell us all how regulation will never solve anything and how the government is evil for trying to break up this scam based on their own outlandish economic theories.
Of course, from my way of thinking, $300 million, or even $485 million if you count the fine against the other chip manufacturer fined so far, is probably just a drop in the bucket compared to the money earned by this scheme. We're lucky to have a regulated economy where the government can do *something* about this at least- but if you think this is going to make those who like money more than people stop trying to destroy the free market, then I've got a bridge or six in Portland to sell you....
SJW: a person who perceives an injustice, and while correcting it, commits a greater injustice.
However, the companies are always able to switch to the next shady business practice.
And they do so without admitting guilt.
I wish I could break laws and not admit guilt.
I guess we should all become corporations. That way we could just disincorporate and reincorporate under a different name.
Beats going to jail.
"Rocky Rococo, at your cervix!"
Now, can we do something about the other industry cartels?
got standards? --- http://www.w3.org/
And they do so without admitting guilt.
Because often there isn't guilt. If you really buy into the Spitzer-following belief that big companies are evil and governments are clean, then I have a bridge to sell you. In many ways a lot of these settlements are the end result of extortion - maybe there is a kernel of truth to them, but the companies settle because they can't compete with the endless resource (and law setting) ability of government.
If the government really has a case, it should be proven in court. Settlements out of court are a travesty, and are far too open to abuse.
Are you all mad? It is Samsung's right to increase prices if they wish. Even if they control a specific technology, it was their development and capitol which achieved this. Price control works both ways, companies increase while the government caps. You all are so blinded by the mere chance that you could see some cash to realize that the government is limiting the sucess of our economy. When one of you create a company with its own technology , will you then be in favor of the feds denying your reward on investment?
If you can't trust giant corporations, who can you trust? I'm really disappointed in Samsung for being the first corporation to ever screw over their customers. It's almost as if they only care about the money...