Price Fixing = a Perpetual Issue
Price fixing continues to be a battle the feds are fighting even though high-publicity cases such as the one featured in the recent film, The Informant!, have highlighted the legal punishment paid by offenders.
But for all the splashy headlines, stiff sanctions, and caught-on-tape teaching moments generated by the ADM case, price fixing appears to be as pervasive as ever. “We played those videos in antitrust compliance programs for years,” says Kent A. Gardiner, a onetime government antitrust prosecutor who is now chairman of the law firm Crowell & Moring in Washington, D.C. “I guess it didn’t entirely work.”
There seems to be a certain element of society that will skirt the moral boundaries for personal and professional gain…all the ethics courses in the world can’t overcome that, in my opinion. Perhaps the punishment needs to be more severe?
Price Fixing, the Perpetual Sequel. Feds face a steady stream of pricing conspiracies despite attempts to use the real drama behind The Informant! to shape corporate behavior. Michael Orey. BusinessWeek. September 28, 2009.