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Sunday, December 9, 2007 |
EarthTimes: "8 Supermarket retailers and dairy groups in England admitted to fixing dairy prices and pledged cooperation in exchange for reduced penalties.
The Office of Fair Trading imposed a combined $235 million fine on England's largest supermarkets as part of a lengthy investigation into price fixing, despite claims by industry officials the pricing was intended to help farmers, The Daily Telegraph reported Saturday.
Several e-mails and other communications between several retailers showed they collaborated to raise the price of dairy, the fair trade office alleged.
Asda, The Cheese Company, Dairy Crest, Sainsbury's and Wiseman admitted guilt Friday and pledged cooperation with the OFT in exchange for reduced penalties."
What do you think will happen in a capitalist society? Yes, the penalties will be charged to the customer. And next time they'll find even more secretive ways of price fixing.
Predatory capitalism is here to stay ... until its final collapse.
11:57:17 AM 
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© Copyright 2008 Hetty Litjens.
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