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3 Firms Confess To Fixing LCD Prices, Agree To Pay $585M Fine
Oldyeller89 writes "LG, Sharp, and Chunghwa Picture Tubes pleaded guilty to charges of price fixing in violation of the Sherman Antitrust Act. They fixed the prices on LCD screens used not only in their products but also in other products such as Apple's iPods. The three companies agreed to pay $585 million in fines. Perhaps this will cause the price of our TVs to drop?" The New York Times also has a story on the outcome of this case.
I wonder if the price to produce a plasma television is just inherently much higher than LCD if the already generally lower prices on those were being fixed in many cases.
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Maybe they should fine the board members instead, and disallow them from receiving bonuses/stock/pay increases for 5 or 10 years. You can't punish companies but you can punish people.