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Keyword: pricefixing

Brevity: Headers | « Text »
  • "When Gold Goes Above 1430 We Whack It"

    12/17/2016 12:02:10 PM PST · by Rockitz · 57 replies ^ | 16 December 2016 | Tyler Durden
    As it goes in silver, so it goes in gold. In London at least. In a bid to have UBS reinstated as a defendant in a London Gold Fix antitrust lawsuit, plaintiffs documents submitted to a New York Court last week include explosive chat room transcripts of UBS and traders from different banks encouraging each other to “push,” “smack,” and “whack” gold prices. The transcripts are equally as startling as those described of banks of the London Silver Fix and UBS given to the court the previous day and described last week in this article. On December 6th attorneys for...
  • America’s Dairy Farmers Dump 43 Million Gallons of Excess Milk (WSJ Oct. 12, 2016 10:59 a.m. ET)

    10/12/2016 12:33:01 PM PDT · by Early2Rise · 60 replies
    WSJ ^ | 10/12/16 | K Gee
    Farmers in the U.S. are pouring out tens of millions of gallons of excess milk, amid a massive glut that has slashed prices and has filled warehouses with cheese. More than 43 million gallons’ worth of milk were dumped in fields, manure lagoons or animal feed, or have been lost on truck routes or discarded at plants in the first eight months of 2016, according to data from the U.S. Department of Agriculture. That is enough milk to fill 66 Olympic swimming pools, and the most wasted in at least 16 years of data requested by The Wall Street Journal....
  • Feds Force Michigan Cherries to Rot – In Order To Raise Prices

    10/12/2016 10:24:07 AM PDT · by MichCapCon · 28 replies
    Michigan Capitol Confidential ^ | 10/11/2016 | Derek Draplin
    Over the summer, millions of pounds of Michigan tart cherries were dumped on the ground and left to rot, thanks to a federal board. The dumping means fewer tart cherries in stores which means higher prices for consumers. And while American farmers are forced to keep their cherries off the market, some companies end up having to import cherries from other nations. Photos of some of the dumped cherries went viral. The images troubled many people, who wanted to know why all that fruit was wasted. The short answer is this: It’s complicated and involves government policies. The Cherry Industry...
  • Oh, It's Not A Racket? (Pharmacology)

    05/09/2016 7:13:29 AM PDT · by SatinDoll · 87 replies
    The Market-Ticker ^ | May 9, 2016 | Karl Denninger
    Oh yes it is. "My parents were just vacationing in Europe (they go often so they're aware of how stuff works). My mom is diabetic and had a shortage of insulin while in France, they went to the drugstore and she showed the bottle of Humalog which is what she uses in the United States and the price in the United States is around $240 a bottle which is charged to her Medicare and insurance and can only be prescribed by her doctor." "The pharmacist recognized the bottle and without having to go to a doctor sold her a bottle...
  • US Steel files trade complaint against big Chinese producers

    04/26/2016 6:12:24 PM PDT · by Olog-hai · 11 replies
    Associated Press ^ | Apr 26, 2016 7:00 PM EDT
    United States Steel Corp. has filed a complaint with U.S. regulators against the biggest Chinese steel producers, accusing them of conspiring to fix prices, stealing trade secrets and skirting duties on imports in the U.S. with false labeling. The big steelmaker is alleging illegal unfair competition by the Chinese producers and their distributors, and is seeking “the exclusion of all unfairly traded Chinese steel products from the U.S. market.” U.S. Steel announced Tuesday that it lodged the complaint with the U.S. International Trade Commission. Normally the independent federal agency decides within 30 days whether or not to act. The case...
  • Germany ends audits against Deutsche Bank over price fixing

    02/27/2016 5:49:13 AM PST · by Olog-hai · 2 replies
    Deutsche Welle ^ | 25.02.2016 | [mg/jr (Reuters, dpa)]
    Germany's financial regulator has said it won't take further action against the country's largest bank over alleged interest rate rigging and precious metals price fixing. The moves takes the spotlight off a former boss. The watchdog, known as Bafin, announced on Thursday it had ended several major special audits against Deutsche Bank. [...] Deutsche Bank paid $2.5 billion (2.26 billion euros) in fines in April last year after investigations on manipulating interest rates. The bank was also probed for its role in rigging prices of gold, silver, platinum and palladium. It also recorded a multibillion-euro loss for 2015. Bafin officials...
  • Big Banks Face Scrutiny Over Pricing of Metals

    02/23/2015 7:13:49 PM PST · by Theoria · 7 replies
    WSJ ^ | 23 Feb 2015 | Jean Eaglesham and Christopher M. Matthews
    U.S. Justice Department investigates price-setting process for gold, silver, platinum and palladium U.S. officials are investigating at least 10 major banks for possible rigging of precious-metals markets, even though European regulators dropped a similar probe after finding no evidence of wrongdoing, according to people close to the inquiries. Prosecutors in the Justice Department’s antitrust division are scrutinizing the price-setting process for gold, silver, platinum and palladium in London, while the Commodity Futures Trading Commission has opened a civil investigation, these people said. The agencies have made initial requests for information, including a subpoena from the CFTC to HSBC Holdings PLC...
  • United Airlines sues 22-year-old who found way to get cheaper plane tickets

    12/30/2014 10:25:05 AM PST · by george76 · 98 replies
    kdvr ^ | December 30, 2014
    A young computer whiz from New York City has launched a site to help people buy cheap plane tickets. But an airline company and its travel partner want to shut him down. United Airlines and Orbitz filed a civil lawsuit last month against 22-year-old Aktarer Zaman, who founded the website last year. The site helps travelers find cheap flights by using a strategy called “hidden city” ticketing. The idea is that you buy an airline ticket that has a layover at your actual destination. Say you want to fly from New York to San Francisco — you actually book...
  • Trendy Chipotle burritos show how pricing power belongs to the hip

    07/29/2014 6:28:27 AM PDT · by C19fan · 83 replies
    Reuters ^ | July 28, 2014 | Jeffrey Dastin
    Corporate America can learn a lot from a chicken burrito. As many companies struggle to boost prices without alienating consumers, they may want to study Mexican-food chain Chipotle, which has managed to do both. Companies including Chipotle Mexican Grill Inc (CMG.N), Apple Inc (AAPL.O) and PepsiCo (PEP.N) have shown they're able to take advantage of quality, trendiness, and, in the case of Pepsi's snack foods, market dominance, to maintain high prices or even raise them faster than the inflation rate, now at about 2.1 percent in the U.S. Chipotle raised chicken-dish prices by 5 percent this year after leaving them...
  • EU lawmakers smooth way for class actions against cartels

    04/19/2014 1:17:25 AM PDT · by Olog-hai · 1 replies
    Reuters ^ | Thu Apr 17, 2014 5:18pm BST | Foo Yun Chee
    European lawmakers on Thursday eased the way for cartel victims to claim compensation from companies under new rules that also shield price-fixing whistleblowers from being the main target of million-euro lawsuits. The green light from the European Parliament came nine years after the European Commission broached the idea, seeing it as an additional tool, on top of fines, to deter companies from breaking antitrust laws. According to the Commission, only one in four cartels and antitrust infringements faced damages claims in the last seven years. Its 2010 estimate put the cost of unrecovered damages of infringements at over €20 billion...
  • EU launches antitrust case against Gazprom

    10/05/2013 11:31:13 PM PDT · by Olog-hai · 9 replies
    EU Observer ^ | 10/04/2013 @ 08:18 | Benjamin Fox
    The EU has started legal action against Russian energy giant Gazprom, the bloc’s competition chief said on Thursday (3 October). … The anti-Gazprom claims say it is abusing its dominant market position to demand extortionate prices for gas and preventing countries from diversifying their energy supply. Lithuania says it pays 35 percent more than Germany for gas under its contract with Gazprom. …
  • China takes aim at prices of milk, medicine

    07/06/2013 9:06:42 AM PDT · by Olog-hai · 5 replies
    Associated Press ^ | Jul 5, 2013 11:47 PM EDT | Didi Tang
    China took aim this week at prices of two high-profile necessities—first baby formula, then medicines—as the country’s communist leaders try to contain surging living costs that threaten to inflame political tensions. A probe into possible price-fixing by foreign milk suppliers prompted at least two companies—Nestlé SA and FrieslandCampina—to announce a price cut. On Friday, news reports said a Cabinet agency is looking into the cost of drugs made by 60 foreign and domestic suppliers. There was no indication of wrongdoing, but the probe could be a prelude to a cut in government-set caps on prices. The action could help the...
  • Oil-price manipulation: the next Libor?

    05/18/2013 5:07:57 AM PDT · by RayChuang88 · 15 replies
    CNN Money website ^ | May 17, 2013 | James O'Toole
    Some of the world's biggest oil companies may have a new mess on their hands. The European Commission raided the offices of Shell, BP and Norway's Statoil this week as part of an investigation into suspected attempts to manipulate global oil prices spanning more than a decade. None of the companies have been accused of wrongdoing, but the controversy has brought back memories of the Libor rate-rigging scandal that rocked the financial world last year.
  • Economists see painful cuts coming for Venezuela (communism NEVER works)

    01/12/2013 5:23:36 AM PST · by Cincinatus' Wife · 19 replies
    Los Angeles Times ^ | January 12, 2013 | Chris Kraul
    CARACAS, Venezuela — As perishable foodstuffs rotted on cargo ships that had waited three weeks to unload at Venezuela's largest port, unsettled consumers this week found shelves at Caracas' main downtown market devoid of rice, cooking oil, sugar and other items. Widespread scarcities and chaos at the nation's main ports, including Puerto Cabello, are just some of the problems Vice President Nicolas Maduro will face as he takes the reins of power in the absence of President Hugo Chavez.......... ....Alejandro Grisanti, head of Latin America research at Barclays in New York, said sharp spending cuts were necessary after an "unsustainable"...
  • US files antitrust suit against Apple

    04/11/2012 4:23:25 PM PDT · by NoLibZone · 10 replies
    Washington Post ^ | April 11 2012 | Bob Van Voris
    The U.S. filed an antitrust lawsuit against Apple Corp., Hachette SA, HarperCollins, Macmillan, Penguin and Simon & Schuster in New York district court, claiming collusion over eBook pricing. Apple and Macmillan, which have refused to engage in settlement talks with the Justice Department, deny they colluded to raise prices for digital books, according to people familiar with the matter. They will argue that pricing agreements between Apple and publishers enhanced competition in the e-book industry, which was dominated by Inc. (AMZN)
  • US government files antitrust suit against Apple over e-book pricing

    04/11/2012 7:31:07 AM PDT · by xzins · 61 replies
    Apple Insider ^ | 11 Apr 12 | AppleInsider Staff
    Wednesday, April 11, 2012 By AppleInsider Staff Published: 10:05 AM EST (07:05 AM PST) An antitrust suit accusing Apple and a number of book publishers of price fixing and collusion was filed by the U.S. Department of Justice on Wednesday. The complaint was filed in a New York district court against Apple, Hachette, HarperCollins, Macmillan, and Penguin, according to Bloomberg. Indications first surfaced on Tuesday that the Department of Justice was readying an antitrust suit. The justice department is expected to settle with "several publishers" this week, as Reuters reported earlier that Simon & Schuster, Hachette, Penguin, Macmillan and HarperCollins...
  • Chuck (Schumer): Probe oil refiners' profits

    05/29/2011 2:40:04 PM PDT · by lowbridge · 46 replies
    NY Post ^ | May 29, 2011
    New York Sen. Charles Schumer wants the government to investigate U.S. oil refiners' skyrocketing profits, which he said are to blame for high gas prices. "Something is rotten," said the Democrat, speaking today at a gas station on Manhattan's West Side. He said refiners' profits have more than doubled since last year. Meanwhile, the price of unleaded gas went up by almost 12 percent in just the two weeks ending May 6, topping $4 a gallon in New York. The senator said he believes refiners may be fixing prices by cutting back on stockpiles — by keeping refining capacities to...
  • Democrat Seeking ‘Price-Fixing’ Probe of Oil Refineries Not Sure How Many Are Run by ‘Big Oil’

    05/20/2011 10:50:44 AM PDT · by jazusamo · 12 replies
    CNSNews ^ | May 20, 2011 | Penny Starr
    ( - Senate Democrats are calling on the Federal Trade Commission to investigate possible price-fixing of gasoline by U.S. refineries because “recent reports,” according to the senators, suggest the refiners are trimming supply to keep prices high. But a federal report from November shows that refinery stockpiles started to decline in 2008, if not earlier. At a press conference on Tuesday, Sen. Claire McCaskill (D-Mo.) and Sen. Charles Schumer (D-N.Y.) announced that they had sent a letter that day to the FTC, “to request the Commission begin an investigation into potential price fixing of gasoline by U.S. refiners.” “Recent...
  • LOBSTER CRISIS: Five-year ban on lobstering possible

    06/11/2010 10:20:55 AM PDT · by Brugmansian · 86 replies · 2,774+ views
    The New Haven Register ^ | June 11 2010 | unknown
    Lobstermen in southern New England are facing a possible five-year fishing ban after biologists made that recommendation to regulators, saying the drastic step is needed to save the depleted stock . . . The vast majority of lobsters caught in the Northeast are trapped north of Cape Cod to Maine, an area that accounts for about 93 percent of the catch and has recently grappled with the opposite problem — a glut of lobsters on the market . . .
  • Obama to Urge Oversight of Insurers’ Rate Increases

    02/21/2010 8:49:27 PM PST · by kcvl · 31 replies · 786+ views
    President Obama will propose on Monday giving the federal government new power to block excessive rate increases by health insurance companies, as he rolls out comprehensive legislation to revamp the nation’s health care system, White House officials said Sunday. The president’s legislation aims to bridge differences between the bills adopted by the House and Senate late last year, and to frame his debate with Republicans over health policy at a televised “summit” meeting on Thursday. By focusing on the effort to tighten regulation of insurance costs, a new element not included in either the House or Senate bills, Mr. Obama...
  • The Fight Over Who Sets Prices at the Online Mall (corporate price fixing)

    02/08/2010 12:38:49 PM PST · by a fool in paradise · 20 replies · 581+ views
    NY Times ^ | February 7, 2010 | BRAD STONE
    ...To see how much these items cost, shoppers must add the merchandise to their shopping carts — in effect, taking it up to the virtual register for a price check... In many cases that freedom stems from a 2007 Supreme Court ruling in the case of Leegin Creative Leather Products v. PSKS. The ruling gave manufacturers considerably more leeway to dictate retail prices, once considered a violation of antitrust law, and it set a high legal hurdle for retailers to prove that this is bad for consumers. ...retailers say manufacturers have become increasingly aggressive with one tool in particular: forbidding...
  • What Rent Control Does

    10/18/2009 5:43:17 PM PDT · by arthurus · 3 replies · 527+ views ^ | 1979 | Henry Hazlitt
    Government control of the rents of houses and apartments is a special form of price control. Most of its consequences are substantially the same as those of price control in general, but a few call for special consideration. Rent controls are sometimes imposed as a part of general price controls, but more often they are decreed by a special law. A frequent occasion is the beginning of a war. An army post is set up in a small town; rooming houses increase rents for rooms; owners of apartments and houses increase their rents. This leads to public indignation. Or houses...
  • Obama's Mansion, Saddam's Money..............(connection to Obama, who personally benefited )

    10/29/2008 3:36:08 AM PDT · by IrishMike · 19 replies · 1,775+ views
    FrontPageMagazine ^ | Tuesday, October 28, 2008 | Daniel Pipes
    Barack Obama appears to have personally benefited from funds originating in Saddam Hussein's regime. It's a complicated connection, but one that deserves the consideration of Americans voters. Two similar figures, Nadhmi Auchi and Antoin S. "Tony" Rezko, served as the intermediaries. Both are Middle Eastern males of Catholic Christian heritage who left Baathist dictatorships for Western cities (Auchi from Iraq to London, Rezko from Syria to Chicago). Both became successful businessmen who hobnobbed with politicians and promoted Arab interests. Both have been convicted of taking kickbacks and both stand accused of other shady dealings. Auchi, born in 1937, is the...
  • UPDATE 2-EU raids Cargill, Bunge in food-price probe

    07/11/2008 11:59:44 PM PDT · by TigerLikesRooster · 3 replies · 151+ views
    Reuters ^ | 07/10/08
    UPDATE 2-EU raids Cargill, Bunge in food-price probe Thu Jul 10, 2008 10:58pm BST (Adds comments from Cargill, Bunge) BRUSSELS, July 10 (Reuters) - The European Commission raided agribusiness giants Cargill Inc [CARG.UL] and Bunge Ltd (BG.N: Quote, Profile, Research) on Thursday in a sweep of traders and distributors of cereals and other agricultural products for human consumption and animal feed in two EU countries. The raids come at a time when grain prices have soared to record highs amid strong demand, production problems and the use of grain to produce biofuels that have lifted food prices. "The Commission has...
  • Two Major Airlines Admit to Price Fixing(British Airways & Korean Air)

    08/23/2007 4:15:15 PM PDT · by kellynla · 4 replies · 260+ views ^ | August 23,2007 | Matt Apuzzo
    WASHINGTON (AP) -- Two major airlines were fined $300 million apiece Thursday after admitting they conspired to fix prices on international flights and agreeing to help prosecutors investigate other airlines. British Airways PLC, Britain's largest airline, and Korean Air Co., South Korea's national carrier, pleaded guilty to antitrust conspiracy charges. They acknowledged colluding with rivals over cargo rates and fuel surcharges, which were added to fares in response to rising oil prices. That meant higher costs for international shippers and passengers. U.S. District Judge John D. Bates said the case "involved considerable commerce and reflected long-term and widespread conduct involving...
  • RIAA fights to keep wholesale pricing secret

    01/04/2007 8:57:40 AM PST · by antiRepublicrat · 27 replies · 1,015+ views
    Ars Technica ^ | 1/3/2007 | Eric Bangeman
    A proposed order in a file-sharing lawsuit would force the recording industry to divulge closely-held details of their wholesale pricing arrangements. UMG v. Lindor is one of the highest-profile file-sharing cases in the news today, due in no small part to the efforts of Marie Lindor's attorney Ray Beckerman, who maintains the Recording Industry vs The People Blog along with Ty Rogers.Lindor, like hundreds of others, was sued by the RIAA after a John Doe lawsuit resulted in her ISP turning over information to the record labels tying an IP address allegedly used for illegal downloading to her. Lindor has...
  • price fixing - restraint of trade

    12/12/2006 10:21:27 PM PST · by hford02 · 2 replies · 210+ views
    personal experience ^ | 12/12/06 | hford02
    I've been told to match a competitor's price at an upcoming event, in order to maintain "tranquility" among the vendors. I have a contract to sell our products at a local RV show and the promoter is insisting on this at the request of my competitor. Can she do this? Is it legal? Isn't she being asked to effect a price manipulation? I admit that my price is always lower than the complainer but I make it up in volume... I know someone out there knows more about this than I do. any advice appreciated.
  • Gasoline demand falls in first half of 2006, imports at a record

    07/19/2006 9:01:23 PM PDT · by newgeezer · 32 replies · 803+ views
    MarketWatch from Dow Jones ^ | Jul 19, 2006 | Myra P. Saefong, MarketWatch
    Gasoline demand falls in first half of 2006 API: lofty crude prices hurt demand, gasoline imports at a record By Myra P. Saefong, MarketWatch Last Update: 10:00 AM ET Jul 19, 2006 SAN FRANCISCO (MarketWatch) — Record prices for crude oil contributed to lower U.S. gasoline demand in the first half of this year, but the nation imported the fuel at a record pace, according to the American Petroleum Institute Wednesday. U.S. gasoline demand fell by 0.4% in the second quarter of 2006, compared with an increase of 0.5% in the first quarter, the API said in its June statistical...
  • Senator calls for gasoline price-fix probe (Chuck Schumer Socialist-New York)

    04/18/2006 12:51:39 PM PDT · by Recovering_Democrat · 61 replies · 1,203+ views
    Clymer News Network ^ | 4/18/06 | Steve Hargreaves
    NEW YORK ( - As American drivers shell out more and more money at the pump with each passing day, some are asking whether big oil companies are scheming to withhold supplies in order to boost prices. New York Senator Charles Schumer, speaking in front of a Hess station in Manhattan, called Tuesday for a federal investigation to see if oil companies and refiners are deliberately withholding gasoline production, taking advantage of the normal switch from winter gas to summer gas in an attempt to bid up prices. "The bottom line is they are producing at 85 percent capacity when...
  • US to Watch for Gas Price-gouging: Bush

    04/18/2006 8:09:46 AM PDT · by ex-Texan · 445 replies · 4,865+ views
    Reuters ^ | 4/18/2006 | Staff Writers
    WASHINGTON (Reuters) - President George W. Bush said on Tuesday he is "concerned" about high gasoline prices, and pledged that the U.S. government will keep a close watch out for profiteering. "I'm concerned about higher gasoline prices," Bush said at a Rose Garden news conference to name new staff appointments. "The government has the responsibility to make sure that we watch very carefully and investigate possible price-gouging, and we will do just that," Bush said in unprompted remarks about energy prices. U.S. crude oil futures hit a record of $70.88 a barrel on Tuesday on fears of supply disruptions in...
  • Report: Rise in gas prices is deliberate

    03/11/2006 10:02:23 AM PST · by Crackingham · 42 replies · 1,130+ views
    Mobile Register ^ | 3/11/6 | Ben Raines
    A report released this week by attorneys general from four Midwestern states suggests that natural gas prices have been artificially inflated by energy trading companies and by the system that local utilities use to buy gas. Many of the purchasing practices and price-setting mechanisms identified as unfair to consumers in the Midwestern report are used by Mobile Gas Service Corp., the Mobile Register has discovered. "Obviously there are issues there (in Alabama) that need to be examined," said Wisconsin Attorney General Peg Lautenschlager, after discussing Alabama buying practices with Register reporters. She compiled the Midwestern report with her counterparts in...
  • DOJ opens probe into online music pricing: sources

    03/03/2006 11:41:26 AM PST · by weegee · 1 replies · 205+ views
    Reuters ^ | Fri Mar 3, 2006am ET | By Sue Zeidler
    One music industry source said some subpoenas may have been issued already in connection with the probe, while other labels had been tipped off that subpoenas would likely be coming in the next few days. It appeared that Sony BMG had already received a subpoena, the second industry source said. The major record labels are Warner Music Group, EMI Group Plc, Vivendi Universal's Universal Music Group and Sony BMG, a joint venture of Sony Corp. and Bertelsmann Ag. Executives from the labels were not available or declined to comment. A spokeswoman for the DOJ was not immediately available for comment....
  • Spitzer Subpoenas Music Cos. on Pricing

    12/27/2005 1:05:57 PM PST · by Brilliant · 43 replies · 638+ views
    AP via Yahoo! ^ | 12/27/05 | MARK JOHNSON
    ALBANY, N.Y. - State investigators have subpoenaed several major music companies as part of a preliminary inquiry into whether the digital music services have engaged in any illegal price-fixing activity. Darren Dopp, a spokesman for state Attorney General Eliot Spitzer, said the office was seeking information on wholesale prices the music labels charge for digital music files that can be downloaded. Dopp said Tuesday that it would take months for the office to launch a full investigation, if one is warranted. Warner Music Group Corp. said in a regulatory filing Friday that the subpoena it received is part of "an...
  • McBride Pleads Guilty to Gouging

    11/07/2005 10:22:10 PM PST · by Rerunscousin · 7 replies · 809+ views
    WTOK News ^ | 11/8/05 | WTOK News
    McBride Pleads Guilty to Gouging Livingston, Ala. Andrea Williams Recently, 42-year-old Jason McBride was indicted for alleged gas price gouging. Initially he pleaded not guilty. Monday morning his attorney stated in Sumter County Circuit Court that he's changing his plea to guilty. Although prices at McBride's stores are dropping now immediately after Hurricane Katrina McBride is accused of selling store in Sumter County. To this accusation McBride had said that right after the storm he charged $3.49 per gallon for gas due to the fact that he paid $3.29 per gallon for it. Meanwhile, McBride is listed as secretary treasurer...
  • Samsung to Pay $300M Fine for Price Fixing

    10/13/2005 9:51:16 AM PDT · by Brilliant · 3 replies · 338+ views
    AP via Yahoo! ^ | October 13, 2005 | Ted Bridis
    WASHINGTON (AP) -- Samsung, the world's largest maker of memory chips for computers and other electronic gadgets, will plead guilty to price fixing and pay a $300 million fine, federal officials announced Thursday. The penalty is the second-largest criminal antitrust fine in history and caps a three-year investigation of the largest makers of "dynamic random access memory" chips, a $7.7 billion market in the United States. The guilty plea by South Korea-based Samsung Electronics Co. Ltd. and its U.S. subsidiary, Samsung Semiconductor Inc., was to be entered Thursday in U.S. District Court in San Francisco. The Justice Department already has...
  • Panic at the pump

    08/31/2005 11:34:55 AM PDT · by JZelle · 88 replies · 2,009+ views
    The Washington Times ^ | 8-31-05 | WALTER WILLIAMS
    Nationally, the average price for regular gasoline around $2.50 per gallon. Are gasoline prices high? That's not the best way to put that question. It's akin to asking, "Is Williams tall?" The average height of U.S. women is 5 foot four. For men, it's 5 foot 10 inches. Being 6 foot four, I would be tall relative to the general U.S. population. Put me on a basketball court, next to the average NBA player, and I would be short. So when we ask if a price is high or low, we must ask: relative to what? In 1950, a gallon...
  • Nominal vs. Real News(A LARGE dose of reality from George Will!)

    08/27/2005 5:43:39 AM PDT · by kellynla · 43 replies · 1,660+ views
    Newsweek ^ | Aug. 29 - Sept. 5, 2005 issue - | George F. Will
    And regarding news media, begin here: They should not subtract from the public's understanding. Yet subtract they nowadays do with endless headlines and talk about "record" oil and gasoline prices. For example, a recent headline in the Financial Times proclaimed: "New York investors take flight after price of oil hits record high." But the story's fifth paragraph read: "West Texas Intermediate for September delivery settled $1.83 higher at $64.90 a barrel—a new nominal record ..." The real meAnd regarding news media, begin here: They should not subtract from the public's understanding. Yet subtract they nowadays do with endless headlines and...
  • Retailers sue Visa, claiming price fixing

    07/15/2005 6:31:56 AM PDT · by Tumbleweed_Connection · 7 replies · 353+ views
    Reuters ^ | 7/15/05
    A group of large supermarket and drugstore chains has sued Visa International and its Visa USA unit, accusing the credit card association of price fixing, restricting competition, and keep companies from negotiating lower rates. In the lawsuit, filed late Thursday in U.S. District Court for the Southern District of New York, the retailers contended Visa's restrictions allowed it to extract fees that were "artificially inflated." Visa is on a "never-ending quest to extract higher revenue" from retailers through "unchallenged market power," the retailers said. The stakes are significant because consumers are increasing their reliance on cards, even on small purchases....
  • Who is the Cheap Labor Lobby?

    07/15/2005 9:01:06 AM PDT · by Happy2BMe · 156 replies · 2,952+ views
    Despite the endless blathering and squirming to the contrary on the part of Wired Magazine, the Wall Street Journal, the Cato Institute and other institutions that normally proclaim the truth of free-market economics, the Law of Supply and Demand applies to labor as much as to any other thing that is bought and sold.  That is to say, if one increases the supply of labor relative to demand, its price will fall. That price is your salary, friend.  And mass immigration is inexorably driving it down. Well, maybe not your salary personally, if you are lucky enough to work in...
  • EU antitrust officials raid Intel, others

    07/12/2005 9:25:16 AM PDT · by Mike Bates · 2 replies · 273+ views
    CNet ^ | 7/12/2005 | Dawn Kawamoto
    update European regulators raided the offices of Intel and a number of PC-related companies early Tuesday as part of an antitrust investigation into the chip giant. As part of the dawn raid, European Commission officials and national competition authorities from member states descended on several Intel offices, as well as a number of IT companies that manufacture or sell computers, a Commission representative said. "These inspections are carried out within the framework of an ongoing investigation," the representative said. An Intel representative said the chipmaker is cooperating fully with investigators. "Our normal business practice is to cooperate, and we are...
  • TNK-BP May Stop Oil Sales To Ukraine - Vedomosti (Results of Socialist tamperings)

    05/03/2005 7:45:49 PM PDT · by jb6 · 11 replies · 230+ views
    I Won Money & Dow Jones WSJ ^ | Tuesday May 3, 4:17 AM EDT
    <p>MOSCOW -(Dow Jones)- TNK-BP (TNKB.YY), the joint venture that incorporates BP PLC's (BP) operations in Russia, may stop exporting crude oil to Ukraine, the Vedomosti daily reported Tuesday.</p> <p>Ukraine decided on April 14 to put a cap on retail fuel prices until May 1. TNK-BP agreed reduce its prices in April, but the Ukrainian authorities now want the initiative to continue until June 1, the paper says.</p>
  • COVERING CUBA 4: The Rats Below

    10/19/2004 10:09:17 AM PDT · by CHACHI · 2 replies · 262+ views
    FOR FREEDOM & JUSTICE GROUP ^ | October 19, 2004 | Agustin Blazquez
    COVERING CUBA 4: The Rats Below © 2004 ABIP All Rights Reserved AB INDEPENDENT PRODUCTIONS/CC4 distributed by running time: 105” Color/B&W VIDEO DVD & VHS HI-FI Stereo producer/director Agustin Blazquez interviewer/assistant producer Jaums Sutton This is the fourth documentary of the series COVERING CUBA. The first COVERING CUBA was released in 1995, followed by COVERING CUBA 2: The Next Generation in 2000 and COVERING CUBA 3: Elian in 2002 COVERING CUBA 4: The Rats Below exposes to the American people how the mighty power of a corporation influences the U.S. government – in this case the corrupt Clinton administration...
  • No Such Thing As A Free Lunch In The Music Industry

    10/13/2004 9:11:11 AM PDT · by t_skoz · 37 replies · 1,121+ views
    The Financial Times ^ | Wednesday October 13 2004 | Michael Skapinker
    Given what I had written about them, I had no right to expect my lunch companions to be friendly. But apart from one fraught moment (of which more later), the spokesmen for the international music industry were perfectly amicable. I had written several columns and editorials arguing that the internet had deprived the record companies of their purpose, that the bullying of teenagers who downloaded free music smacked of desperation and that the industry's only hope of survival was finding a new business model. Determined to convince me that I was wrong were Jay Berman, chairman of the International Federation...
  • Teenagers offer cheap sex (New Zealand prostitution)

    07/10/2004 1:12:48 PM PDT · by wagglebee · 66 replies · 8,269+ views
    New Zealand Herald ^ | 7/10/04 | STEPHEN COOK
    A year after a law change designed to get prostitutes off the street, a price war driven by teenage sex workers has flared up on the streets of South Auckland. Market forces appear to be driving street prostitution as teenagers, some as young as 12, compete alongside seasoned sex workers - with tumbling prices the result. Rather than pushing sex workers into legalised brothels, a Weekend Herald inquiry has found the new legislation has done little to discourage street prostitution. This is especially true in pockets of South Auckland, where the Manukau City Council has been forced to shelve plans...
  • Been There, Done That!

    11/18/2003 10:06:51 PM PST · by WaterDragon · 22 replies · 248+ views
    Oregon Magazine ^ | November 19, 2003 | Peggy Whitcomb
    When Franklin D. Roosevelt took office in 1932, the American economy was already in a depression, banks were failing, people couldn't find jobs, people were hungry. FDR believed that depressions were caused by unchecked, "greedy," big corporations, unregulated free markets, and individuals accumulating what he considered as 'too much wealth'. He promised America that he would wage war on big business, and during his presidency, assumed unprecedented powers to prosecute that war. Historian Jim Powell, author of "FDR's Follies," relates the history and development of the massive New Deal programs, brief political biographies of the men who administered them, and...
  • Maine Judge to Decide if Music Deal is Fair

    05/22/2003 8:36:00 AM PDT · by fight_truth_decay · 12 replies · 306+ views
    PressHerald ^ | Thursday, May 22, 2003 | Associated Press
    Millions of music buyers will receive a check for about $12.60 in the mail if a settlement of a price-fixing lawsuit wins court approval today. U.S. District Judge D. Brock Hornby will hold a hearing to determine whether the $44 million settlement is fair. Roughly 3.5 million U.S. residents who purchased music between 1995 and 2000 registered for claims in the price-fixing suit against major record labels and large music retailers. Hornby also will determine whether registrants who failed to sign penalty of perjury documents will be allowed to share in the settlement and whether petitions of Canadian residents who...
  • Digital piracy of movies is 'wrong,' college students chided [by -- ugh -- Jack Valenti]

    02/26/2003 10:54:57 AM PST · by GeneD · 68 replies · 492+ views
    Cox News Service ^ | 02/26/2003 | Nora Achrati
    WASHINGTON -- As part of an uphill battle against Internet movie piracy, entertainment industry lobbyist Jack Valenti offered university students a lesson in morality Tuesday. "Too many students don't believe it's wrong to steal these movies," Valenti told students at Georgetown University Law Center. "It is fracturing the moral contract to take something that does not belong to you." The appearance was one of several that the president of the Motion Picture Association of America plans at prominent universities over the next few months. Students are among the heaviest online traffickers of illegally copied material. Since the late 1990s, a...

    12/10/2002 10:07:54 PM PST · by CHACHI · 13 replies · 348+ views
    FOR FREEDOM & JUSTICE GROUP ^ | December 10, 2002 | A.V. KREBS
    The AGRIBUSINESS EXAMINER #207 December 10, 2002 Monitoring Corporate Agribusiness From a Public Interest Perspective EDITOR\PUBLISHER: A.V. Krebs ADDRESS: PO. Box 2201, Everett, Washington 98203-0201 E-MAIL: WEB SITE: TO RECEIVE: Name and e-mail address CONTRIBUTION$ WELCOME !!! BOOK REVIEW: RATS IN THE GRAIN: The Dirty Tricks and Trials of Archer Daniels Midland, the Supermarket to the World. By James B. Lieber. ROBERT SHERRILL, THE TEXAS OBSERVER: Anyone who had the misfortune to watch the presidential debates may have noticed that the moderator, Jim Lehrer, one of the most overrated journalists of our era, went out of his way...
  • Chicago Area Milk Lawsuit (did Dominick's and Jewel illegally conspire to raise Milk prices?)

    12/10/2002 7:41:23 PM PST · by supercat · 5 replies · 320+ views
    A class action lawsuit has been brought against Jewel Food Stores and Dominick's Finer Foods, alleging that Jewel and Dominick's conspired to fix, raise or maintain the retail price of fluid milk at their Chicagoland-area stores. Jewel and Dominick's deny all allegations of wrongdoing, and maintain that they set their prices independently and lawfully.
  • EU Raids Koppers, Four Other Companies

    12/06/2002 2:29:53 PM PST · by Willie Green · 183+ views
    The Associated Press ^ | DECEMBER 06, 2002
    For education and discussion only. Not for commercial use. BRUSSELS, Belgium (AP) — The European Union's head office said Friday it had raided five companies, including European offices of Koppers Industries Inc., in its investigation of possible price fixing of tar pitch, creosote and naphthalene products. Koppers Industries said Thursday that EU investigators had visited their offices at its wholly owned subsidiary in Nyborg, Denmark and in Scunthorpe, Britain. It also said the U.S. Justice Department also served a subpoena for similar documents at Koppers headquarters in Pittsburgh. The company said it is cooperating in the investigation. EU officials have...