The European Commission has fined ten memory chip makers a total of €331m - as part of the first settlement made for cartel charges. Ten chipmakers were found guilty of running a cartel in order to fix prices. The fine was cut by ten per cent in recognition of the companies' acceptance of the facts. Micron had its fine …
Drat. DRAM not dram.
I was hoping for a cheap whisky ruling.
Just say "Yep, I'm guilty" and get >25% off your fine?
I thought this was going to be a story about whisky. Imagine my disappointment!
They've got their customer info on their databases (Oh yes they have)
There should be (partial) refunds rattling at their expense all down the supply chain.
There's an interesting question of timing here... when you join in a cartel you have to figure out how long its going to be useful to the members, because there's going to be a point at which the best thing to do is to hit the grass up button and get your opponents trashed without any penalty yourself, having gained all the advantage from being in the cartel...
For the really devious businessman there's a formidable incentive to promote a cartel and then blowing the whistle at the right moment - there's a much greater gain to be had than not joining a cartel at all. Who was it sais that legislation nearly always has the opposite effect to that intended? There's an oBvious figure who should have the icon with horns for this one, but the option isn't available...
Implying there's another kind.
How do i get my money back?
Oh, I don't. Well that's deeply reassuring.
Re: How do i get my money back?
Not only don't you get it back, you also have the privilege of paying a bit of the fine when you next buy memory. Isn't that just great? The EU really are looking after consumers.
I really do love this idea of fining large corporations huge sums of money to "protect the consumer." It's glaringly obvious that they'll just treat it as OpEx and then pass the hit on to us.
Obviously the alternative is to block sales for a while, but that also screws the EU's revenue stream by not getting the fine and losing out on taxes. I think I begin to see the motivation...
When do we get our refunds?? The amount of RAM I bought during that period I am expecting about a pony at least.
But who would go into a cartel after 2 or 3 cartels have been busted open like this? It boosts the risk up and creates a race to be the first in the group to jump ship and win the immunity prize. It's impressive that the EU managed to get it this right.
Re: How do I get my money back?
They could split the money from the fine between the competitors of the guilty parties.
Jail terms for the CEOs and board would be a more interesting punishment