Linked by Thom Holwerda on Thu 13th Nov 2008 12:48 UTC, submitted by Moulinneuf
Prices of flat panels have been dropping quite steadily ever since they first came to market, but apparently, they could've dropped a whole lot lower if it wasn't for those pesky flat panel manufacturers. Three flat panel makers, LG Display, Sharp, and Chunghwa Picture Tubes (tubes...?) have pleaded guilty to engaging in price fixing schemes to the US Department of Justice, and agreed to a shared USD 585 million fine.
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Member since:
2006-08-09
Quite ironic, Asian flat panel cartel gets a fina of hundreds of millions of dollars, while the domestic banking cartel gets a hundreds of billions of dollars give-away. :-)
In any case, the Asians have no idea what to do with the dollars they import for their exports anyway, so instead of buying US treasury bonds they might as well just give it straight to the DoJ in cash.
I doubt those firms with multi billion dollar revenues really care that much. Fines don't help. Banning them from the market does. But consumerism is deemed to keep the American economy from dying (albeit in a coma) so I doubt they'll ever do that.