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Samsung, Toshiba, Others Accused of LCD Price-Fixing
GovTechGuy writes "Toshiba, Samsung, Sharp, LG and other major technology companies allegedly colluded to fix the prices of LCD screens used in televisions and computers, according to an antitrust suit filed Friday by New York Attorney General Andrew Cuomo. The complaint alleges that top-level executives at those firms attended secret meetings on a monthly or quarterly basis where they agreed upon minimum prices, price targets, increases and rates to be charged to specific computer manufacturers. The suit also accuses the companies of exchanging product information, agreeing to output levels and keeping prices artificially high by avoiding competition. Cuomo is seeking hundreds of millions of dollars in damages and punitive charges for the alleged overcharging of state institutions."
Sadly this is one of the biggest problems with out country today. The biggest bane to Capitalism is a monopoly. And unfortunately almost every major product we buy be it power, automobiles, computers, food, media, etc. has a group of three or four huge companies that completely control that market. They get together and price fix, control the market, and even control the laws and regulations that are supposed to keep them in check. These types of collusion are no good except for the people at the top of these companies and their stock holders.
No, they can pass on that cost and people will use other parts.
Before we talk about the pros and cons of various forms of sanction against these companies, I have a simple question.
These multiple companies are being accused of colluding. That's a word for a specific type of conspiracy. Since this involves those companies conspiring together, does that mean we immediately scoff at the notion, dismiss it out-of-hand without examination of evidence, and accuse anyone who supports the notion of being a tin-foil hat-wearing nutter?
I just want a little consistency. That's how we treat anyone who suggests that people within government would conspire in some way when both money and power is involved. Why don't we act the same way when anyone suggests that people within corporations would conspire in some way when only money is involved?
Oh, right, because you can choose not to do business with particular corporations so you feel little to no need to bury your heads in the sand when they conspire. It's not so easy to escape the malfeasance of your own government, so you feel a desperate need to say that it isn't and could never be so.
It is a miracle that curiosity survives formal education. - Einstein
If you could go after people working for a company personally then nobody would work for a company
Just like if you could go after a contractor directly, nobody would be a contractor? Oh wait, you can, and there are. I'm pretty much on the far right politically, when it comes to economics. But I still don't necessarily support the idea of the corporate shield. Capitalism and corporatism are two separate concepts, and one can support one without the other.
Besides, the buck should stop with those who make the decisions, not those who are forced to carry them out. Removing the corporate shield wouldn't make working for a company any more dangerous - just running one. And I think we've seen enough examples lately to know that their just plain isn't sufficient accountability at that level of corporate management - the corporate shield is being abused.
Just because you're paranoid doesn't mean there isn't an invisible demon about to eat your face