Samsung convicted of price fixing [Archive]

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FMJeff

10-13-2005, 09:20 PM

<a href="http://www.cnn.com/2005/TECH/10/13/samsung.price.fixing.ap/index.html">http://www.cnn.com/2005/TECH/10/13/samsung.price.fixing.ap/index.html</a>It really makes you wonder how many companies in how many industries are doing this right now. I mean, if you think about it, ANYONE can be price fixing...and nobody would be the wiser...Samsung got greedy and didn't adjust thier price gouging relative to the state of the economy and the tech sector specifically so as not to raise alarms...I'm willing to be there are many corporations out there who are not as stupid. This kind of shit makes me sick to my stomach. To think I had to pay more for memory or a computer just because some exec thought it was a good idea to con an entire industry. I hope they get serious jail time. 

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It made my heart sing.

FUNKMAN

10-13-2005, 09:28 PM

Corporate Greed, now there's a new concept!<img src="http://www.ronfez.net/messageboard/tiny_mce/plugins/emotions/images/smile.gif" border="0" />corporate leaders are fucking people six ways from sunday. it all evolves around the stock market and keeping the majority of wealth in the hands of a few. gotta show continued profits or else. not good enough making the same good profits of last year, oh no 

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HBox

10-13-2005, 09:30 PM

I wonder if they're doing the same thing with their 80-inch Plasmas? 

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PapaBear

10-13-2005, 09:31 PM

Thank God nothing like this happens with gas stations!

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<center>1 people are so scared of 9 people</center><center>WHATSOEVER...</center>

FUNKMAN

10-13-2005, 09:32 PM

or medical insurance

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HBox

10-13-2005, 09:36 PM

Or insurance in general. 

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FUNKMAN

10-13-2005, 09:38 PM

or going to a movie

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HBox

10-13-2005, 09:41 PM

or cable television 

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FMJeff

10-13-2005, 09:41 PM

what i dont get is how they continue to do it...this isn't the 80's anymore...watchdog programs are more advanced, computers themselves are more advanced...they can process more sales data...and with the fall of enron and worldcom, white collar prosecution is a bigtime priority in this country...despite what the naysayers say, people are tired of getting fucked. 

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It made my heart sing.

FUNKMAN

10-13-2005, 09:43 PM

or how about the music industry? they'll go after 14 and 15 year old kids for 3 grand for downloading music, and you know why?  so a few can continue to live in their 10 million dollar cribs with a couple million dollars worth of cars sitting in the garagefuck them!

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FMJeff

10-13-2005, 09:45 PM

quote: or how about the music industry? they'll go after 14 and 15 year old kids for 3 grand for downloading music, and you know why?  so a few can continue to live in their 10 million dollar cribs with a couple million dollars worth of cars sitting in the garagefuck them!<img src="http://thereisnogod.faithweb.com/images/funkman.gif" border="0" /> that's extortion...stick to the issue at hand...price fixing... 

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It made my heart sing.

HBox

10-13-2005, 09:49 PM

[color=navy]Hell, the price of CDs was a prime example of
price fixing, the music industry was sued for it and lost, AND NOTHING
CHANGED!!!!!!Now they're trying to shake down iTunes and
satellite radio for more money, and they pulled their music videos from
Launch on Yahoo until they got a share of the ad revenue. Now people
have to pay for the priviledge of advertising music! I hate that
industry with a passion. 

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This message was edited by HBox on 10-14-05 @ 1:49 AM

FUNKMAN

10-13-2005, 09:50 PM

what i dont get is how they continue to do it...from what my grandfather said "they write the laws". these corporations have the most sophisticated lawyers in the world. they write the contracts, create the loopholes, and insure and preserve their own wealth...  

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HBox

10-13-2005, 09:52 PM

This took a half hour to turn into a Lefty Lib
Commie Party! That's a new record! Congratulations
Comrads!!!! 

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FUNKMAN

10-13-2005, 09:55 PM

keep the politics out of it

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JerryTaker

10-14-2005, 01:11 AM

or cable televisionit's COMCASTIC!!!! 

 
Sweet Queen Bee, I hope it comes quickly,
I hope your thoughts don't drift to me
I'll die in here, you now are free...

Doctor Manhattan

10-14-2005, 03:35 AM

So price fixing is when more than one company get together and set their prices along with each other? If that's the case why are the other companies involved not hit as hard? Infineon Technologies AG got a smaller fine and Micron Technology Inc. didn't have any fine according to the article. If it takes 2 compaines why would one of them be more guilty?

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angrymissy

10-14-2005, 06:07 AM

quote: or how about the music industry? they'll go after 14 and 15 year old kids for 3 grand for downloading music, and you know why?  so a few can continue to live in their 10 million dollar cribs with a couple million dollars worth of cars sitting in the garage fuck them!  <img src="http://www.planearium2.de/pics/pics-709-2.jpg" border="0" /><table border="0"><tr><td>Detective: </td><td>This is the home of Lars Ulrich, the drummer for Metallica.  Look. There's Lars now, sitting by his pool. [he's seen sitting on the edge of a chaise longue, his face in his hands, softly sobbing] </td></tr><tr><td>Kyle: </td><td>What's the matter with him? </td></tr><tr><td>Detective: </td><td>This month he was hoping to have a gold-plated shark tank bar installed right next to the pool, but thanks to people downloading his music for free, he must now wait a few months before he can afford it. [a close-up of Lars sobbing] </td></tr></table><div /> <img src="http://i9.photobucket.com/albums/a63/angrymissy/newsig.gif" border="0" /> "To announce that there must be no criticism of the president, or that we are to stand by the president right or wrong, is not only unpatriotic and servile, but is morally treasonable to the American public." [ Theodore Roosevelt ]

This message was edited by angrymissy on 10-14-05 @ 10:07 AM

Recyclerz

10-14-2005, 07:11 AM

So price fixing is when more than one company get together and set their prices along with each other? If that's the case why are the other companies involved not hit as hard? Infineon Technologies AG got a smaller fine and Micron Technology Inc. didn't have any fine according to the article. If it takes 2 compaines why would one of them be more guilty?How the prosecutors go after the various parties usually depends on two things -  the company's market share (ie. how much they directly profited from the price-fixing) and, probably more importantly, who flips first and how much information they have or how far they're willing to go to implicate the others in the cartel.  Like any gang related crime, if you're the last one who hasn't cut a deal you get hammered the worst and become the worst offender in the narrative of the story.How it happens is pretty easy - it only takes a couple of discreet conversations between higher-ups at the country club or, more likely at the titty bar. As long as all the companies play along (& keep their mouths shut) it is pretty hard to detect from the outside.  Usually the prices of whatever they're playing with don't go up precipitously, they  just stop going down.The why is also easy to  understand if not to excuse.  When any product goes from "wow, that's cool" to a commodity, the profit margins go from phat to next to nothing. The bizness muckety-mucks don't like to have their expensive factories and labor not paying for themselves so they have a great incentive, especially in mature markets, to stop growing and just start milking their existing investment for everything its worth.  These guys don't l;ike to close & write off factories and fire everybody (well most of 'em anyway) so the they sometimes go under the table to keep the cash flowing just a little longer.& there's your anti-trust lesson for the day. Go forth and don't fuck with Messrs. Sherman, Robinson or Patman.

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King Solomon, he never lived 'round here[b]

terryc35

10-14-2005, 07:57 AM

I can't say much, but for anyone who follows the Financial world....I am a financial analyst at Refco.  For those of you who know about it, you know whats going on.  For those who don't google it or pick up a paper and read the business section.

O&AVIRUS&MORE

10-14-2005, 08:00 AM

This hasn't been a good week for XM and it's partners! Delphi files for Chapter 11, XM stock keeps falling, Samsung convicted of price fixing! Hmmmm........ XM itself should be very careful of its actions, or it may be next! 

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Recyclerz

10-14-2005, 08:17 AM

I can't say much, but for anyone who follows the Financial world....I am a financial analyst at Refco. OUCH!Well, good luck, Bro! * * I mean that in the least sarcastic way possible. <img src="http://www.ronfez.net/messageboard/tiny_mce/plugins/emotions/images/wink.gif" border="0" />

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[b]There ain't no asylum here.
King Solomon, he never lived 'round here[b]

WRESTLINGFAN

10-15-2005, 07:06 PM

quote:  quote: I can't say much, but for anyone who follows the Financial world....I am a financial analyst at Refco.   OUCH!Well, good luck, Bro! * * I mean that in the least sarcastic way possible. <img src="http://www.ronfez.net/messageboard/tiny_mce/plugins/emotions/images/wink.gif" border="0" /><img src="http://www.hometown.aol.com/recyclerz/myhomepage/sigpic1.gif?mtbrand=AOL_US" border="0" /> There ain't no asylum here. King Solomon, he never lived 'round here Refco is in for some major shit. They are winding down their positions meaning that they wont be taking on any more new clients, they are going to liquidate all their positions and their former CEO squandered $400 million from clients 

O and A... PARTY ROCK!!!!!

terryc35

10-17-2005, 08:04 AM

quote: their former CEO squandered $400 million from clients Not at all true

Death Metal Moe

10-17-2005, 08:07 AM

quote: quote: <blockquote />their former CEO squandered $400 million from clients Not at all true How the hell do you know?  Are you one of the CEO's? 

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DTN

whitefolks

10-17-2005, 08:57 AM

Thats why i love PC richards, all their sales people work on
commission and are the biggest bunch of thieving, manipulating
salespeople I have ever met. Want a good bargan, go there.  

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terryc35

10-17-2005, 09:16 AM

quote: quote: quote: their former CEO squandered $400 million from clients Not at all true How the hell do you know?  Are you one of the CEO's? <img src="http://scripts.cgispy.com/image.cgi?u=njdmmoe" border="0" /> <a href="http://www.unhallowed.com/">www.unhallowed.com</a> <a href="http://thebigsexxxy.blogspot.com/">One Big SeXXXy Blog</a> <a href="http://www.myspace.com/deathmetalmoe">Death Metal MySpace</a> DTN Actually Moe, I work directly for the new CEO.  That's besides the point.  All you have to do is read an article on it and you will find oput that that is not the issue.  He didn't steal money from any clients.  What he did was keep $430 million of bad debt (which is supposed to be written off) on our books as a recievable to bolster our balance sheet and geta hire IPO price.l

terryc35

10-17-2005, 09:17 AM

He's a scumbag and I hope he rots in hell

FUNKMAN

10-17-2005, 10:10 AM

Actually Moe, I work directly for the new CEO.  That's besides the point.  All you have to do is read an article on it and you will find oput that that is not the issue.  He didn't steal money from any clients.  What he did was keep $430 million of bad debt (which is supposed to be written off) on our books as a recievable to bolster our balance sheet and geta hire IPO price.l would you say he ripped off investors? what's happened to the price of the stock?

<img src="http://thereisnogod.faithweb.com/images/funkman.gif">

terryc35

10-17-2005, 10:15 AM

Oh, he definitely ripped off investors the stock is now worthless.  It has been halted for 4 days and will probably be de-listed and the only way we (shareholders) will get our money bacj is through a class action suit.  He may face up to life.

WRESTLINGFAN

10-18-2005, 05:23 PM

What did it IPO at? When it was halted it was worth about $7 and change

O and A... PARTY ROCK!!!!!

Death Metal Moe

10-18-2005, 05:26 PM

No more Stock Talk, please.

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DTN

HBox

10-18-2005, 05:31 PM

BUY!!!!!!!!!!!!!!!!! SELL!!!!!!!!!!!!!!!!!!!!!!
HARUMPH HARUMPH HARUMPH!!!!!!!!!!! BUY!!!!!!!!!! BUY!!!!!!!!!!!!!!!!
BUY!!!!!!!!!!!!!!!!!! SELL!!!!!!!!!!!!!! SELL!!!!!!!!!!!!!!
SELL!!!!!!!!!!!!!! HARUMPH HARUMPH
HARUMPH!!!!!!!!!!!!!!!! 

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mikeyboy

10-18-2005, 05:33 PM

"Whose baby is that?" "What's your angle?" "I'll buy that." 

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FUNKMAN

10-18-2005, 05:53 PM

The richest one percent of this country owns half our country's wealth, five trillion dollars. One third of that comes from hard work, two thirds comes from inheritance, interest on interest accumulating to widows and idiot sons and what I do, stock and real estate speculation. It's bullshit. You got ninety percent of the American public out there with little or no net worth. I create nothing. I own.  

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FUNKMAN

10-18-2005, 05:55 PM

Sand bagged me on Bluestar huh? Thought you could teach the teacher a lesson that the tail can wag the dog huh? Well let me clue you in, pal. The ice is melting right underneath your feet. Did you think you could've gotten this far this fast with anyone else, huh? That you'd be out there dicking someone like Darien? Naw... you'd still be cold calling widows and dentists tryin' to sell 'em 20 shares of some dog shit stock. I took you in... a NOBODY. I opened the doors for you... showed you how the system works... the value of information... how to get it. Fulham oil, Brant resources, geodynamics and this is how you fucking pay me back you cockroach. I gave you Darien. I gave you your manhood I gave you everything. You could've been one of the great ones buddy. I look at you and see myself... WHY?

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torker

10-18-2005, 05:55 PM

"Whose baby is that?" "What's your angle?" "I'll buy that." Nice.

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