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CARTEL * Europe - EU fines auto glass firms record $1.77B
Brussels,Belgium -The Detroit News/Bloomberg -13 Nov 2008: -- The European Commission fined companies controlling the Continent's auto glass market a record $1.77 billion on Wednesday for price-fixing over five years. Two of the companies have been caught engaging in cartel practices before. Earlier, investigators raided several big cement makers, including other repeat offenders. Antitrust specialists said such signs of chronic price fixing raised questions about whether European enforcement efforts could be effective without the threat of jail, as are routinely handed down in the U.S. A European Union commissioner insisted that stiff fines should be enough to dissuade executives from fixing prices...
Labels: oligopoly
posted by Unknown @ 11:28 AM
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