European Commission Fines Capacitor Producers for Price Fixing

DooKey

[H]F Junkie
Joined
Apr 25, 2001
Messages
8,706
The European Commission has fined eight capacitor producers because they operated a cartel to maximize profits. In other words they were price-fixing from 1998 to 2012 and all of the companies involved were Japanese companies. The total fines handed out were over 253M Euros. Maybe it's time to take a look at the RAM manufacturers again and see what they're up to. Thanks cageymaru.

The investigation found that the cartel participants were aware of the anti-competitive nature of their behaviour, as evidenced by their intention to conceal it. For example, messages exchanged between the companies or internal emails containing reports of the meetings included mentions such as "Discard after reading", "After reading this email, please destroy it without stowing it away", "Since the gathering should not be disclosed to the public, please be careful when handling the contents of the present report."
 
Joined
Apr 29, 2015
Messages
253
I say we collect the biggest caps they make, charge 'em up and crocodile clip them to these bastards' tender bits.

Oh, and please delete this message after reading.
 

Peter2k

Limp Gawd
Joined
Apr 25, 2016
Messages
309
EU should add a 0 or two

250 million is nothing

I know we are not trying to ruin companies, but that sum is just not enough of a deterrent

I remember my company had to pay a fine for price fixing (we are making bearings), ~240 million €

And in a company letter all employees we're informed not to worry, the company put 260 million already away in case they need to pay a fine for price fixing
It really is just a drop in an ocean, hell someone might have gotten an extra bonus for thinking "ahead" and putting some money away for paying fines
 
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Dead Parrot

2[H]4U
Joined
Mar 4, 2013
Messages
2,831
1998-2012? Speedy investigation EU! Should we expect that Yahoo has a monopoly finding any day now?
 

katanaD

[H]ard|Gawd
Joined
Nov 15, 2016
Messages
1,987
a capacitor cartel ??

LOL.. sorry but i am having a [H]ard time taking this too seriously



Sanyo Electric Co., Ltd. and its parent Panasonic Corporation received full immunity for revealing the existence of the cartel to the Commission, thereby avoiding an aggregate fine
well.. now we know who isnt going to be invited to the next cartel meeting

*snickers*
 

{NG}Fidel

Supreme [H]ardness
Joined
Jan 17, 2005
Messages
6,286
God its refreshing to see what the EU does to companies that misbehave vs America.
It takes us forever and then we slap them on the wrist unless the full public is watching.
 

vegeta535

Supreme [H]ardness
Joined
Jul 19, 2013
Messages
4,132
God its refreshing to see what the EU does to companies that misbehave vs America.
It takes us forever and then we slap them on the wrist unless the full public is watching.
Lol. You think they doing this for the people? This is all about money for the broke ass EU. They looking into everything trying to find something fine.
 

naib

[H]ard|Gawd
Joined
Jul 26, 2013
Messages
1,289
The European Commission has fined eight capacitor producers because they operated a cartel to maximize profits. In other words they were price-fixing from 1998 to 2012 and all of the companies involved were Japanese companies. The total fines handed out were over 253M Euros. Maybe it's time to take a look at the RAM manufacturers again and see what they're up to. Thanks cageymaru.

The investigation found that the cartel participants were aware of the anti-competitive nature of their behaviour, as evidenced by their intention to conceal it. For example, messages exchanged between the companies or internal emails containing reports of the meetings included mentions such as "Discard after reading", "After reading this email, please destroy it without stowing it away", "Since the gathering should not be disclosed to the public, please be careful when handling the contents of the present report."
Vishay is American btw... the rest are japanese
 

Zarathustra[H]

Fully [H]
Joined
Oct 29, 2000
Messages
30,251
EU should add a 0 or two

250 million is nothing

I know we are not trying to ruin companies, but that sum is just not enough of a deterrent

I remember my company had to pay a fine for price fixing (we are making bearings), ~240 million €

And in a company letter all employees we're informed not to worry, the company put 260 million already away in case they need to pay a fine for price fixing
It really is just a drop in an ocean, hell someone might have gotten an extra bonus for thinking "ahead" and putting some money away for paying fines

I came here to say something similar.

When the fine is smaller than what is gained by wrongdoing, it will never be effective. It will just be a cost of doing business.

Make the fine large enough to really sting investors, or you'll never see any improvement.
 
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RealBeast

Gawd
Joined
Aug 4, 2010
Messages
648
So only the high quality cap makers were involved?

EU citizens could have just bought cheap Chinese caps instead, no? :sneaky:
 
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