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(Global Post)   Bridgestone Tires pleads guilty to price fixing. Apparently their tires weren't the only thing that were being over-inflated   (globalpost.com) divider line 10
    More: Followup, Bridgestone, auto parts, price-fixings, bonus payment, mother-in-law  
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903 clicks; posted to Business » on 15 Feb 2014 at 8:48 AM (31 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2014-02-15 10:54:23 AM
FTFA: Bridgestone said its board members will refrain from receiving bonus payments in March and representative board members will forfeit half of their compensation for six months to underscore its "sincere regret for this incident."

That's great and all, but how much is that in dollars and how much did they make from all the price fixing?

/Its Japan, so yen would also be acceptable.
 
2014-02-15 11:18:54 AM
sounds like the Japs have learned some American nasty habits.
 
2014-02-15 03:02:31 PM
The thing I don't get about Bridgestone is how their summer tires can be so good while their all-seasons suck so terribly.
 
2014-02-15 04:14:30 PM
As opposed to the price fixing the US gov't did with the tariffs on tires?

/and what are the odds that consumers will ever see any of this money?
 
2014-02-15 05:14:11 PM
IIRC Sears Roebuck lost a lawsuit over tire balancing abt 10 years ago - the lawyers got a zillion dollars and each affected customer got about $3.25
 
2014-02-15 06:29:09 PM
Nice to see that they'll forego bonuses and compensation. Six months from now: Bridgestone announces a doubling of bonuses and compensation for its board members.
 
2014-02-15 09:02:22 PM

CBob: As opposed to the price fixing the US gov't did with the tariffs on tires?

/and what are the odds that consumers will ever see any of this money?


0% chance
 
2014-02-15 09:38:03 PM
Wake me up when the electricians' union is convicted.
 
2014-02-15 11:52:33 PM
Interesting. If you are a company creating real wealth (useful objects), and you break the law, smackdown and guilty pleas.

But if you are a financial company, moving money to and fro, skimming off 10% while creating zero wealth, and you break the law...
 
2014-02-16 09:05:06 AM

mjjt: IIRC Sears Roebuck lost a lawsuit over tire balancing abt 10 years ago - the lawyers got a zillion dollars and each affected customer got about $3.25


Well I am not sure that it's all that bad, for example, the Sears Tower is now called "Ron White's Big Old G-ddamn Building"! :-D

upload.wikimedia.org

http://www.youtube.com/watch?v=Ii8rC6CPCvM
 
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