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Keyword: gouging

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  • Enemies of Society Report "Price Gougers" to Authorities [PODCAST]

    08/30/2017 8:28:35 PM PDT · by Arthur McGowan · 11 replies
    The Tom Woods Letter ^ | August 30, 2017 | Tom Woods
    I've often said that being an economist must be one of the most frustrating professions. You spend your life fighting against economic fallacies, and as you're lying in the hospital about to expire, the reporter on TV talks about all the jobs some natural disaster is going to create. These days, the most dangerous economic error is the condemnation of "price gouging." Even in my own Facebook feed I found people up in arms about high prices in the wake of an emergency. Evidently many hundreds of complaints about the practice have been filed with the Houston authorities, with more...
  • Harvey Price Gouging

    08/29/2017 7:40:46 AM PDT · by where's_the_Outrage? · 73 replies
    Vanity | August 29, 2017 | self
    What should be the reaction to price gouging for Harvey? I believe in the law of supply and demand, the more the need the higher the price. That being said, what I don't condone is those that create shortages by burying up the local stocks and then gouging the prices. But I do condone person X transporting needed supplies into affected area, and getting what he can for those supplies. In fact, I would encourage that. Have the monetary incentive to get the supplies to the area, do not expect Walmart to disrupt their profit margin by changing distribution methodology...
  • Starbucks shares tumble on lowest same-store sales growth since 2009

    01/30/2017 7:25:19 AM PST · by SoFloFreeper · 96 replies
    CNBC ^ | 1/26/17 | Sarah Whiten
    Starbucks earnings hit Wall Street's target in the latest quarter, but shares fell 3.5 percent in aftermarket trading on Thursday after the company posted its lowest same-store sales growth since 2009...
  • Sandy Price Gouging Probed: $7 Loaf Of Bread, $10 Box Of Matches

    11/06/2012 5:31:08 AM PST · by blam · 31 replies
    NBC ^ | 11-6-2012 | AP
    <p>More than 400 possible cases of price gouging of gasoline and other essentials, including a $10 box of matches and $7 loaf of bread, have been reported in New York before and after Sandy.</p> <p>Reports are being investigated in New York City, the Hudson Valley and on Long Island by state Attorney General Eric Schneiderman.</p>
  • Would rising prices(if legal)work better than state controlled Rationing in NJ after this hurricane?

    11/03/2012 1:55:01 PM PDT · by sickoflibs · 110 replies
    links in post | 11/3/2012 | sickoflibs
    In New Jersey there is a shortage of open gasoline stations not because of the supply of gas but due to lack electricity at gas stations. This has caused long lines due to form miles long and lots of frustration. The media is reported thousands standing in line waiting to buy gasoline. So NJ Gov Chris Christie has just announced a form of gasoline rationing of odd and even buying days. At the same time he is prosecuting merchants for raising prices in response to the shortages; and I am sure this is very popular there: ' Procecute those greedy...
  • College Education: Another bubble ready to burst!

    04/19/2011 8:55:52 AM PDT · by SeekAndFind · 53 replies
    Bennington Banner ^ | 04/19/2011 | Audrey Pietrucha
    Senator Bernie Sanders added a new victim to the long list in his most recent column -- college students. Sanders complained that the Republican budget proposal would reduce the average Pell higher education grant by 17 percent at a time when the cost of a college education is "soaring." Having just sent the last of my three children off to college, I cannot argue with Sanders’ description of college tuition costs -- they are, indeed, soaring. Statistics confirm personal observation as, according to the Measuring Up 2008 report by the National Center for Public Policy and Higher Education, tuition and...
  • Is it price-gouging? No, it's 'resource allocation'

    09/22/2008 1:42:50 AM PDT · by Maurice Tift · 18 replies · 414+ views
    The Augusta Chronicle ^ | September 22, 2008 | Mark A. Thompson
    Gas stations should be allowed to charge any price they want. Stop and think. There are gas stations all around us. All of them havesimilar products and must compete with one another. We have regulations and agencies that watch to make sure there are no cooperative arrangements among stations. Why, then, are price-gouging laws such a bad idea? First, the price restriction interferes with market forces. For example, gas stations anticipate a lack of supply of gas over the next couple of weeks because of the hurricane in the gulf. They raise their gas prices to allocate the remaining supplies...
  • Gas prices spike in Michigan

    09/13/2008 7:38:56 PM PDT · by mombyprofession · 29 replies · 146+ views
    WZZM 13 News Website ^ | 9-13-08 | AP
    DETROIT (AP) - The state auto club said that the statewide average for a gallon of self-serve regular fuel was up about 5 cents to $3.94 early Saturday from Friday morning. That's up about 20 cents from Monday. AAA spokeswoman Nancy Cain said there were some reports of prices above $4 a gallon. On Friday, Gov. Jennifer Granholm and Attorney General Mike Cox promised to monitor and swiftly deal with any gas gouging in the state. Hurricane Ike threatens some of the Gulf Coast's oil refineries. Closing oil refineries because of the hurricane could lead to an eventual bump in...
  • Who the heck is congress to judge what "gouging" is?!

    07/11/2008 5:41:12 AM PDT · by brycemax · 3 replies · 82+ views
    Congress in its infinite wisdom deems itself the judge of what "gouging the public" is, but the real question: Who's gouging whom? NOTE: The author of this cartoon requests that you visit the web site and refrain from copying the cartoon within the thread. Thanks!
  • New Push To Prevent Gas Gouging At Illinois Pumps (Americans aren't jazzed about the math)

    07/04/2008 7:19:09 PM PDT · by Libloather · 45 replies · 204+ views
    CBS 2 Chicago ^ | 7/03/08 | Dorothy Tucker
    New Push To Prevent Gas Gouging At Illinois PumpsReporting Dorothy Tucker Jul 3, 2008 6:27 pm US/Central CHICAGO (CBS) With the price of gas well over $4 a gallon, consumers want every drop they pay for. But sometimes Pamela Smith wondered if the gas was flowing when she was pumping. "While I'm pumping the nozzle is clicking and it's going on and off and I'm not certain if the gas is going into the vehicle," Smith said. She is among the hundreds who have registered their concerns with the state. The state has had 700 complaints since January, compared to...
  • Texas homeowners insurance premiums still highest in United States

    12/19/2007 5:15:17 PM PST · by Dubya · 22 replies · 69+ views
    The Dallas Morning News ^ | TERRENCE STUTZ
    AUSTIN – Texas homeowners still pay far more for insurance than those in any other state, even after the overhaul passed by the Legislature four years ago that was supposed to lower rates. A new study from the National Association of Insurance Commissioners showed that the average annual premium in Texas for the most common homeowner policy was $1,372 a year, considerably more than the nationwide average of $764. Louisiana was the second-highest at $1,144 and Florida was third at $1,083. The premiums in all other states were less than $1,000.
  • Top gas gouger? The government!

    06/20/2007 11:46:33 AM PDT · by Turret Gunner A20 · 53 replies · 831+ views
    World Net Daily ^ | June 19, 2007 | Alyssa Farah
    States, feds taking chunk bigger than oil companies. With summer travel in full gear and motorists more conscious of the price of gasoline than ever before, few Americans realize that up to 60 cents of the cost per gallon is the result of local, state and federal taxes. In fact, despite allegations of price-gouging, some retailers say they are actually losing money on every gallon they pump. State, local and federal taxes make up about 20 percent of the cost paid at the pump, according to Conoco Phillips, an international, integrated energy company. ...most major companies were profiting only about...
  • Pains at the Pump (WSJ on "Price Gouging")

    05/28/2007 8:25:27 AM PDT · by The Pack Knight · 18 replies · 1,229+ views
    The Wall Street Journal ^ | 28 May, 2007 | Editorial
    It's Memorial Day weekend and the start of the summer driving season, so naturally it's time for Congress to grandstand against $3-a-gallon gasoline. And right on cue, the House passed legislation last week to criminalize gasoline "price gouging," whatever that is. Perhaps this is all designed to distract the public from Congress's own role in raising gas prices. Under the anti-gouging law, service station owners could face up to 10 years in prison if they dare to raise their prices too much when supplies are low. Representative Bart Stupak, the Michigan Democrat who sponsored this scheme, said the vote would...
  • House Passes Gasoline Gouging Bill

    05/23/2007 8:28:02 PM PDT · by kellynla · 45 replies · 1,114+ views
    Los Angeles Times ^ | May 23, 2007 | Richard Simon
    Congress is desperate to show it feels your pain at the pump. The House today voted, 284-141, to pass a bill that would make gasoline price gouging a federal offense. In the Senate, Democratic leaders were scrambling to introduce a new energy bill, the first since they took control of Congress. A committee also held a hearing on whether oil industry mergers had contributed to higher fuel prices. And the day before, members of both parties ignored a presidential veto threat and approved legislation that would subject the Organization of the Petroleum Exporting Countries to price-fixing lawsuits. Record high gasoline...
  • House moves on surging oil prices

    05/23/2007 1:33:04 PM PDT · by libertarianPA · 70 replies · 1,225+ views
    AP via Yahoo! News ^ | 5/23/07 | H. JOSEF HEBERT
    WASHINGTON - The House, eager to do something about record high gasoline prices in advance of the Memorial Day weekend, voted narrowly Wednesday to approve stiff penalties for those found guilty of gasoline price gouging. The bill directs the Federal Trade Commission and Justice Department to go after oil companies, traders or retail operators if they take "unfair advantage" or charge "unconscionably excessive" prices for gasoline and other fuels. The White House called the measure a form of price controls that could result in fuel shortages. It said President Bush would be urged to veto the legislation should it pass...
  • House OKs Penalty For Gas Price Gouging

    05/23/2007 11:55:35 AM PDT · by EagleUSA · 84 replies · 1,317+ views
    Yahoo News / AP ^ | 05/23/2007 | EagleUSA
    WASHINGTON - The House, eager to do something about record high gasoline prices in advance of the Memorial Day weekend, voted narrowly Wednesday to approve stiff penalties for those found guilty of gasoline price gouging. The bill directs the Federal Trade Commission and Justice Department to go after oil companies, traders or retail operators if they take "unfair advantage" or charge "unconscionably excessive" prices for gasoline and other fuels. The White House called the measure a form of price controls that could result in fuel shortages. It said President Bush would be urged to veto the legislation should it pass...
  • Caprice at the pump

    05/23/2007 11:07:31 AM PDT · by JZelle · 21 replies · 858+ views
    Washington Times ^ | 5-24-07 | Margo Thorning
    As the summer travel season quickly nears and consumers continue to watch as the cost of filling up gas tanks steadily increase, they may instinctively believe oil companies are getting rich at their expense. This is an understandable, but common misconception whenever prices seem to inflate beyond reason. Unfortunately, some federal policymakers are all too eager to seize on this frustration and propose so-called solutions that place artificial ceilings on gas prices, often referred to as "price controls," or today's more popular political moniker, "price gouging." Phrases like these should raise red flags, because no matter how well-intentioned at best...
  • Government gouges you at the pump

    05/19/2007 2:44:48 PM PDT · by presidio9 · 12 replies · 887+ views
    Jewish World Review ^ | May 17, 2007 | George Will
    Democrats, seething at the injustice of gasoline prices, have sprung to the aid of embattled motorists. So resolute are Democrats about defending the downtrodden, they are undeterred by the fact that motorists, not acting like people trodden upon, are driving more than ever. Gasoline consumption has increased2.14 percent during the past year. That probably is explained by the inconvenient (to the Democrats' narrative) truth that Speaker Nancy Pelosi was characteristically overwrought when she said that Democrats intend to do this and that because the price of gasoline recently " set a record" at $3.07 a gallon. In real (inflation-adjusted) rather...
  • AAA: Gas Prices Driven to Record High

    05/14/2007 7:29:40 AM PDT · by EagleUSA · 14 replies · 846+ views
    Fox News / Reuters ^ | 05/14/2007 | EagleUSA
    NEW YORK — U.S. gasoline prices climbed to a record high average of $3.073 a gallon on Monday, breaking the previous peak hit after hurricanes knocked out refineries on the Gulf Coast in 2005, travel and auto group AAA said. The higher prices come just ahead of the peak summer driving season, when Americans take to the roads for vacation. Gasoline prices are up about 50 cents since March, according to the survey of 85,000 service stations, with energy experts blaming the spike on planned maintenance and operating problems at the nation's oil refineries. "Because oil prices today are at...
  • The Cost of a CD Should be Exponentially Higher, According to the RIAA

    02/03/2007 12:42:15 PM PST · by Dallas59 · 100 replies · 2,101+ views
    WHAS 11 ^ | 2/2/2007 | Ben Woods
    The Recording Industry Association of America hasn't been making too many friends these days. I guess I should say that the organization does have many friends inside the music industry, because that's who makes up the the RIAA. I'm not here to argue whether it's right or wrong to download free music where it's available, or whether it's OK to listen to your friend's "Beach Boys Greatest Hits Album." I'm just here to point out what the RIAA wants you to believe about the cost of music and CDs. If you visit the Key Stats/Facts page on the RIAA website,...