Germany hits Yamaha and other intrument sellers with 21m Euro fine
NewsThe German competition authorities have fined local subsidiaries of Yamaha, Roland and Fender for manitaining minimum prices for their products.
‘Manufacturers and traders of musical instruments have consistently and for many years acted to restrict price competition to the ultimate detriment of consumers,’ said the regulator.
There has been no response as yet from Yamaha.
What I will never understand about capitalism:
Price fixing is forbidden, but having clothes or footballs (adidas) made in Pakistani or Bangladesh sweat shops, child labor being an option, for $2 a piece and selling it for $120, without sharing the profits with the producers, is perfectly legal.
Bravo. And I was struck by the word in the article “minimum”. Isn’t that what the public wants to pay?
Something is very screwy (yes that word is very Three Stooges!).
And just about EVERY sports star with IMG sports gets sponsored, thus.
Tell me if I’m wrong.
And I’m not even going to state again the behavior I’ve seen from them, when they get their sites on something, or other IMG pundits beyond “sports”…..
And they’re actually nice people, beyond that. But then there’s this drug called celebrity.
There’s this drug called celebrity.
Propped up by sweatshops:
https://www.chicagotribune.com/news/ct-xpm-1996-07-14-9607140216-story.html
https://journaltimes.com/news/national/nike-and-michael-jordan-in-cheap-labor-spotlight/article_050a4e27-9345-542d-a941-2883e55a414c.html
Nike sponsors Nadal, Federer was with Nike but then went to Uniqlo to get 30 million a year (for ten years, rather than 10 million what he got from Nike, and Uniqlo doesn’t score good either with their labour practices)…..
Not in Germany any more. The Bundestag just passed a law prohibiting exactly that type of immoral outsourcing. German companies now have to work only with ethical suppliers (which includes a prohibition of child labor along the supply chain), or else.
Whether this will actually change anything is of course open to question. A better way is just to boycot those companies.