Did you guys read about the new auto parts price fixing debacle?
Actually, I’m in favor of long jail sentences. The action mentioned above is over too quickly for these guys. An average premium of $200 per new car? That’s more than some dealers make on a sale. Now tha DOJ busted the car parts sleaze, maybe they can get the spine to beat on The Bankers. You remember The Bankers, don’t you? Any comments?
Sad.
Why can’t I get too excited over this? You outsource overseas and then find out they have fixed the prices. Maybe its just that the article is kind of poorly written with few specifics but if they saved a couple hundred on costs do you suppose it would be passed on to the customer? And what exactly is excess profit? So the DOJ is out there on the job protecting our interests to save average new car buyers $50 a year (if you trade every four years).
So billions of dollars and multiple mega-corporations involved and 2 sacrificial lambs “agreeing” to serve a year along with a fine is it? That 700 million dollar fine doled out en masse will be made up during the manufacturing of future parts. The cost of doing business.
Like the banks, insurance companies, utilities, and even various levels of government aren’t price fixing…
Now tha DOJ busted the car parts sleaze, maybe they can get the spine to beat on The Bankers.
Won’t happen until Warren or someone like her gets sufficient power to start firing people directly at DOJ.