- Tuesday, 10 November 2009
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We like to think of ourselves as the Microsoft of the energy world - Enron CEO Kenny Lay
LCD executives face prison
FOUR ASIAN display manufacturer executives have pleaded guilty and face US prison time for conspiring to fix prices on TFT-LCD screens, according to the US Department of Justice.
The current and former officers of South Korea's LG Display and Taiwan's Chunghwa are the first defendants charged in an ongoing anti-trust investigation of the LCD industry. They are charged with violations of the Sherman Act that may carry fines of up to $1 million and prison terms of up to 10 years.
LG Display, Chunghwa and Sharp had earlier agreed to plead guilty and pay criminal fines for fixing the prices of LCD panels. LG Display agreed to pay $400 million, Chunghwa $65 million, and Sharp $120 million. The panels were sold to Dell, Apple, Motorola and others.
The individuals involved include Chang Suk Chung, who was LG Display's Vice President of Monitor Sales, and Chunghwa's former Chairman and CEO, Chieng-Hon Lin. Under plea agreements yet to be approved by the courts, all four executives will serve prison terms of between six to nine months and pay criminal fines that range from $20,000 up to $50,000.
They have also agreed to assist with the DoJ's continuing LCD price-fixing investigations. µ
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How does this solve the problem? You're fining execs little more than they make in a week (if that)... that's like me getting a hefty speeding ticket: painful, but I'll get over it.
Price-fixing damages the whole market. I highly doubt $585 million will cover the over-payment by retailers and subsequently consumers: since 2006, there has been 150-200+ million LCD TVs sold worldwide. Three bucks per TV? At least several times that wholesale, which results in tens of times that retail. Plus interest. And lets not forget you have to pay the lawyers for their trouble. That brings the bill to: $50 billion (£30,000 million or so for those of you keeping score at home). Maybe then they won't do it again. Or not.
(Samsung, Sony and others were investigated for RAM price fixing in 2005; most of the companies in this suit were investigated for CRT price fixing in 2007... shall I go on?)
Not just LG, but all in the offing.
They're charging almost as much for this inferior gear, the same has been for years now. Be that as it may, I have to attest that LG picture quality is outstanding.
All the museum buildings have restaurants "where you can get hot chocolate or coffee,"(Lynn) St. Thomas said. Yeah, US Prisons are Like doing Stink On Your Head. HAHAHA dOES this mean LCDs' are out of lineup for LG & samsung, et al.BUM. STeWie Drashek
Whether he's a bot, like at least one person has suggested(weeks ago), or if he's a real person, he's beginning to make more sense.
That's means 1 of 3 things, I think:
(1) Mr. Drashek is learning to write English better.
(2) The programmers who make the Drashekbot(if that's what it is) have either improved their code, hardware, or both.
(3) Google Translate(or some other translation program) has been upgraded.
Any other possibilities I haven't thought of?
I think you overlooked the part about prison terms. I think that would concentrate their minds wonderfully.
your right jason, ive pointed it out myself several times in recent weeks, ive told him to stop takin those new meds hes got, it freaks me out, its just not right, its too spooky O_O
but 10 years is better.
Why don't the members of OPEC go to prison for price fixing?
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Ummm, Good Waste of Robot Prize? Televison WithOut 30 Hz!