Yesterday, I heard the Supreme decided price fixing is legal!!! The court said that is was ok for manufacturers and retailers can agree on the same miniumim price for an item. For example, let us say Toshiba says to Best Buy you can't sell our tv any less than $1000.00, Best Buy will agree to it. IN 1911, THIS WAS OUTLAWED AS PRICE FIXING! Why is this gov't and this court removing all the hard won boundaries set up by the law to protect consumers from price fixing, price gouging, and monopolies? It's like we are regressing, not progressing, and we as consumers are being pushed right into proverty. The oil and gas industry has enough of my money...they buy oil at a guaranteed market price and mark it up any amount they want and thanks to him I have to choose between food and fuel...now thanks to price fixing, anything else I may need will be unaffordable too.
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PRICE FIXING IS NOW LEGAL?
posted by eletiger1 on June 29, 2024 - 8:58am
Current Score: 0Yesterday, I heard the Supreme decided price fixing is legal!!! The court said that is was ok for manufacturers and retailers can agree on the same miniumim price for an item. For example, let us say Toshiba says to Best Buy you can't sell our tv any less than $1000.00, Best Buy will agree to it. IN 1911, THIS WAS OUTLAWED AS PRICE FIXING! Why is this gov't and this court removing all the hard won boundaries set up by the law to protect consumers from price fixing, price gouging, and monopolies? It's like we are regressing, not progressing, and we as consumers are being pushed right into proverty. The oil and gas industry has enough of my money...they buy oil at a guaranteed market price and mark it up any amount they want and thanks to him I have to choose between food and fuel...now thanks to price fixing, anything else I may need will be unaffordable too.
price fixing is legal again *
eletiger1 on June 29, 2024 - 10:59am
PRICE FIXING IS NOW LEGAL?
posted by eletiger1 on June 29, 2024 - 8:58am
Current Score: 0Yesterday, I heard the Supreme decided price fixing is legal!!! The court said that is was ok for manufacturers and retailers can agree on the same miniumim price for an item. For example, let us say Toshiba says to Best Buy you can't sell our tv any less than $1000.00, Best Buy will agree to it. IN 1911, THIS WAS OUTLAWED AS PRICE FIXING! Why is this gov't and this court removing all the hard won boundaries set up by the law to protect consumers from price fixing, price gouging, and monopolies? It's like we are regressing, not progressing, and we as consumers are being pushed right into proverty. The oil and gas industry has enough of my money...they buy oil at a guaranteed market price and mark it up any amount they want and thanks to him I have to choose between food and fuel...now thanks to price fixing, anything else I may need will be unaffordable too.
Toshiba and Best Buy can do it because they are in different businesses. Toshiba and Sony can not do it where they are in the same business. Sellers can set any pricing agreement that is not with a competitor selling the same thing. You can bet Apple won't sell thier new product outside of a controlable retail market. Setting a maximum price would be a contraint of trade and might have a legal problem.
Bill"for what we are together"
bill713.unity08@sbcglobal.net
This decision respects the right to contract freely, and it actually can help consumers. When a manufacturer sets a minimum retail price for its products, it protects retailers who offer superior customer service. In order to provide such service, a retailer must incur higher costs and therefore must charge a higher markup to gain the same profit margin as its competitors. Minimum retail prices protect these retailers from competitors that would offer inferior service and lower prices.
Whether this is ultimately good for the manufacturer depends on whether consumers prefer lower prices or better customer service: if the manufacturer agrees on a minimum retail price with its retailers, it may lose out to another manufacturer that sells a similar product without a minimum retail price. This isn't price fixing because similar products can still compete on price.
Phil
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