Japanese electronics giant Toshiba has come out fighting after becoming the latest big name to be found guilty of a widespread price-fixing racket relating to liquid crystal display (LCD) panels sold in the US. The company has now been ordered by a northern California court to pay $87m in damages – $70m to consumers who bought …
Its anti profit....
....to compete with a competitor; therefor anti business.
... do I claim my share back?
Yes! I bought a LED tv in 2007 for a whopping 1.6k, so if this was fixed, can I get a refund of the difference? (Something like 1.2k's worth...)?
In December 2011, Samsung, Sharp and six others agreed to pay $388m to settle with OEMs and soon after seven more LCD makers including Samsung, Hitachi and Epson Imaging offered $553m to settle the charges.
Looks like the OEMs get all the money (extra [profits for them) and the general public will get nothing at all. The OEMs where there consumers and not the likes of you and me :(
They shouldn't waste their time appealing.
They're political fines to encourage investment in the US. It's nothing to do with fairness. It's to encourage inward investment.
They should have worked out by now, that if they want to make big money in a country, they have to employ staff there. The Chinese recently decided that a car that was basically a clone of the BMW X5, bore no resemblance. It was on Top Gear. Surely someone's learned something from that.
All countries do it. Toyota have worked it out. When faced with prosecution over brakes, they could easily have offered publically to maintain a register of faulty vehicles, but this would have been dominated by non Toyota cars, mostly US and European, and they'd have been murdered by the government for being so cheeky. Instead, they offered a sincere apology, and paid the protection money, er, "inward investment to show partnership" so the government would take the heat off.
What's the matter with companies? Are their management stupid? All countries do this. They have to, otherwise they'd be overran by the technically more advanced. You can't blame the country, the elected have to keep the electorate happy. Simply saying "Well, what do you expect? Your cars/monitors/entity of choice are crap compared to those of Japan/China/Country of choice. You deserve to be unemployed." doesn't get a politician re-elected. Engineering foreign companies' assistance in helping the locals does.
Every country does it.
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