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Executives involved in the case get fines and prison terms of up to nine months

The LCD industry was rocked by a scandal in late 2008 when executives from some of the largest panel makers in the world pled guilty to conspiring to fix prices. The price fixing led to inflated costs for displays used by firms like Dell in its notebook computers.

In November of 2008, executives from Sharp, LG, and Chunghwa Picture Tubes all pled guilty to price fixing. The largest fine imposed was placed on LG and totaled $400 million with Sharp said to be paying $85 million in fines.

Today reports are coming in that in addition to the fines levied against the corporations; the executives that participated in the scheme are being individually fined and sentenced to prison time here in America.

DigitalTrends reports that the former Chairman and CEO of Chunghwa, Chieng-Hon Lin was hit with an individual fine of $50,000 and a sentence of 9-months in an American prison. The other executives involved in the scandal received prison terms ranging from six to nine months each.

Deborah A. Garza, Acting Assistant Attorney General for Antitrust, said in a statement, "These cases involve the first Taiwanese nationals to face imprisonment in the United States for an antitrust offense. The Department of Justice is committed to holding accountable all conspirators who harm American consumers, no matter where they live or where they commit the crime."

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RE: Regional cable monopolies
By Aloonatic on 1/21/2009 5:09:19 AM , Rating: 2
Like house prices, the rise in oil prices had a route in the old adage of:

"something is worth whatever people are willing to pay for it" or more accurately "something is worth whatever people think that they can afford to pay for it".

For a while these high prices were sustained by the personal credit bubble, but seeing as that has well and truly burst, people realised that they could not buy the amount/level of Gas/Petrol and Housing that they were before and the prices have had to drop.

There's an element of supply and demand there but in this crazy topsy-turvy world of the last 10 years or so the supply and demand was on both sides of the equation.

That is the supply and demand of/for the goods and the supply and demand for the credit/money that was being used to pay for them.

The whole thing is an utter mess which someone really should have been regulating better but too many people were coming out with too many big sacks of money from more than just the speculators offices and too many politicians made their reputations (looking at you Gordon Brown) for the "financial success" and "Overseeing The Golden of Banking" over the last few years to want to stop the merry-go-round.

Speculators were simply doing their jobs, as were the oil companies. It's their jobs to make as much money as they can for both themselves and their shareholders. If someone puts $4/gallon on the gas/petrol pump and then lots of people roll up and keep on filing up their cars/vans/trucks etc with it, then why not keep pushing up the prices? The same goes for house prices too. Or should everyone who made a bundle on selling their home recently be made to pay too?

The regulatory bodies and politicians who were all to happy to stand idly by as the credit funded financial boom grew and grew without ever asking the question "How can people afford these expensive houses/gas prices?" and do something about it before it all went so predictably and horribly wrong are the people whom we should probably be looking at if blame is to be shared around.

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