So big business is not so beneficent.

  gengiscant 21:16 08 Jan 2011

Cartels rule.
Plastics. click here
Bathroom here
Car here
Air here here
Animal here

A quick look around the internet and these are just the companies that got caught. They seem to be able to handle these large fines without so much as a whimper,which begs the question how much did they make whilst the cartel was in place.

  spuds 23:03 08 Jan 2011

I haven't opened all the links because the computers on a go slow this evening, but you may have missed LCD panel producers, that effected the costs of televisions, computer screens and other technologies.

Five major LCD panel producers have been fined a total of £542m by the EC. Apparently Samsung avoided a fine, because it brought the cartel to the attention of the European Commission.

The companies named in the report was LG (£180m) AU Optronics (£97m) Chimei InnoLux Corporation (£251m) Hannstar Display Corporation (£6.69m) Chunghwa Picture Tubes (£7.5m). Apparently the fines would have been bigger, but were reduced because of the cooperation given by the companies.

  Uboat 23:09 08 Jan 2011

This is a very intresting thread! these are HUGE fines and i wonder where the "European competition watchdogs" use all of it.?

greed its all about greed imho...

  gengiscant 00:25 09 Jan 2011

It was what you have mentioned that started me looking.
We all know that there are many on this forum who believe that big business can do no wrong,yet,should you follow my links, its not so much as healthy competition, but more, lets decide between ourselves what price is charged,at what particular time.

I have been doing a bit of research about prices and so called sale prices,a sale price has to be reduced from a price that the item has been sold at for 28 days,lets overprice it for that 28 days then offer a big reduction. I have friends who work in the retail/electronics trade and this practice certainly goes on.Difficult to prove, our better half's spend our cash and who would deny them.
Big business is there to part you from your cash, I try to haggle for everything,9 times out of 10 I get a good deal, but I trust no one, any deal I agree to I want it in writing.

  morddwyd 07:02 09 Jan 2011

"Big business is there to part you from your cash"

So is small business, that's the way the world works.

It's just that big business has better and more devious ways of doing it - that's how small business becomes big business!

  Forum Editor 09:33 09 Jan 2011

That businesses are run by human beings.

Lots of people talk about businesses as if they were run by a different species, but they're not - human greed isn't the sole preserve of those who run big commercial enterprises. Ordinary people in the street are just as greedy, but they don't get the chance to express it in such a grandiose way.

Businesses have attempted to operate cartels ever since businesses began, it's being going on for centuries. We recognise it, and we introduce legislation to try to prevent it, but we should not be surprised when it happens.

  Cymro. 10:41 09 Jan 2011

I suppose this is what someone called "the unacceptable face capitalism".
It is probably inevitable but then that does not make it acceptable. The fines imposed may not be much of a deterrent but something must be done. We can`t just sit back and let these large multinationals rip us off as they please.

  spuds 14:08 09 Jan 2011

Perhaps going off subject slightly, but do you realise that the 4 major supermarket chains virtually open a new store every day, somewhere in the UK. This can be a type of 'Express' to the more 'Super'.

Most obtain planning permission, due to offers of incentive rewards to councils and the like. It isn't always what the public wants or demands, especially if its going to control employment in the area over a longer period. With perhaps the supermarket gaining the control.

We keep hearing about the public want cheaper items, and the supermarkets are providing this. But ask the manufacturers of the products what they are having to do to survive. And at the same time, see repeated higher profit margins for the stores concerned. Perhaps that is one reason why I always scrutinies my checkout bill on leaving a store. Spending time in a customer service queue is usually worth the refunds, but definitely not the hassle or perhaps long wait.

Perhaps going a little further. Some people regard asking for discounts or extras an embarrassment, or below their status (whatever that means). Definitely not for me, or my friends, and we have saved fortunes over time.

Only the other day, I was in our local Tesco and queried the price of their printers. On one particular model, the shelf price was £39.99 (pre Christmas £31.95) and I queried why Tesco on-line price stated £33.99. Store assistant "Take the item to the checkout, and you will receive it for £33.99". Another printer was £99.99, yet the manufacturers own on-line store was offering the same item for below £60.00 delivered. Pointing this out to the assistant, the reply "It might be best to buy it elsewhere", when asked to price-match.

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