Project TILT: Cartel

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Got this one from Vic's Facebook post. Since I have no TILT for yesterday, I will ante-date this post to make up for the gap.

An April 13, 2011 article in New York Times featured a story about P&G and Unilever in Europe being fined due to price-fixing. Another company, Henkel, escaped the fine by being the whistle-blower of the cartel. The cartel operated from 2002 to 2005 and affected the price of laundry detergents in Belgium, France, Germany, Greece, Italy, the Netherlands, Portugal and Spain. In exchange for a 10% reduction in fine, P&G and Unilever admitted involvement in the cartel.

I'm just shocked that even in progressive countries in Europe, where there are strict anti-trust laws, the cartel was able to operate for more than three years. I wouldn't be surprise if cartels in various industries are operating here in our country for decades now.

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