News - CRT manufacturers fined for price fixing collusion until 2006

[HEXUS]

Philips, LG, Panasonic, Samsung, Technicolor and Toshiba must all cough up to EC.

Read more.

[Harkin]

So I’m now certain I paid too much for several CRT monitors from the mid 1990s onwards, where will the EC fine cash go?

Lol Exactly! We will never see a cent of it or have a clue where it REALLY goes. It will get shared between the EU and probably fill the pockets of many politicians. Justice well served :rollseyes:

So what the EC are saying to the colluders is, 'You charged consumers over the odds for screens, you basically were stealing from consumers. Please can we have some of that stolen money for ourselves, Thanks'.

[shaithis]

Yes, just where is that money going to go? hmmm

[ZaO]

So I’m now certain I paid too much for several CRT monitors from the mid 1990s onwards, where will the EC fine cash go?

Lol Exactly! We will never see a cent of it or have a clue where it REALLY goes. It will get shared between the EU and probably fill the pockets of many politicians. Justice well served :rollseyes:

So what the EC are saying to the colluders is, 'You charged consumers over the odds for screens, you basically were stealing from consumers. Please can we have some of that stolen money for ourselves, Thanks'.

Haha yeh exactly. Except they're not asking for it, they're taking it!

[aidanjt]

LG points out that the Korean, US and Canadian authorities have not found LG to be liable in similar cases.

How is this even an argument? Saying jurisdiction X, and Y found them innocent of charge A doesn't mean charge A isn't an offence in jurisdiction Z.

[Harkin]

Haha true ZaO

When you read how much the European Commission costs the EU and especially the UK every year and then you see a story like this and you know that money would never get back to consumers, just makes me sick. Why is always the consumer that gets robbed and these special commissions made to help us with these things is just another robbery along the way. Now those companies are going to charge a tiny bit more and us consumers will have to pay again.

They could have just told the companies like lets say Philips at €313 million stolen, they could make Philips sell off stock at a reduced priced to the value of €313 million of savings, thus us consumers could at least try and get something back.

Sorry rant over :/

[aidanjt]

Don't be silly, Harkin, that would imply that the EU exists for the people... Neo-liberals don't do that kind of thing, that would be commienistic.

[michaelg]

It's worse than that: thos companies will have to claw back that money from somewhere, and it will come from consumers buying current products. So we got ripped off for a decade, and now we'll pay over the odds again. The only people who have scored are the E Commissioners!

[Brewster0101]

Yes, just where is that money going to go? hmmm

Straight into funding that stupid new HQ building the EU is building next to their not so old current HQ building.

[OilSheikh]

God, we really need to leave the EU!

[=assassin=]

So now these companies will raise the price of current monitors to cover these costs, and the consumer is worse off...

[realstock]

Whats the point of the EC charging these companies when there is no effort to return that rightful money back to the consumer that was overcharged.

Alternatively the EC should force the said company, to provide large discounts on new monitors, as long as you can prove you paid for one of these CRTs.

[tenshin111]

When you read how much the European Commission costs the EU and especially the UK every year

So, how much does it cost? And how much does the UK contribute to this cost?

If you read the facts about EU budget and administration costs (and I don't mean articles in The Sun or other **** newspapers) you will be quite surprised. And just FYI - the UK government contributes much less than other members of the EU and it's been doing so for quite a long time.

[ZaO]

So now these companies will raise the price of current monitors to cover these costs, and the consumer is worse off...

Oh damn. Good point! It's just a complete loose for the people who paid to much and a win win for the fat cats as usual. Damn...

[Jack91]

If anyone actually cares I wrote to the EU as I was also interested where the money goes. This is what they said:

The amount of the fines is paid into the Community budget. The fines therefore help to finance the European Union (EU) and reduce the tax burden on individuals

[ZaO]

If anyone actually cares I wrote to the EU as I was also interested where the money goes. This is what they said:

The amount of the fines is paid into the Community budget. The fines therefore help to finance the European Union (EU) and reduce the tax burden on individuals

Nice one for doing that man

I don't believe a word of it though haha...