Price Fixing; The Industry Comes Full Circle

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Gilbert B Norman
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Joined: Fri Mar 12, 2004 6:52 am
Location: Clarendon Hills, IL (BNSF Chicago Sub; MP 18.71)

Price Fixing; The Industry Comes Full Circle

Post by Gilbert B Norman »

Fun; how for all the years of strict regulation, both the shippers and the industry wanted an end. Now look at what the shippers want - legal remedies from what they ssynis price fixing.

Associated Press courtesy of New York Times

Fair Use:
..More than two dozen major companies ranging from Campbell’s Soup to Kia sued the nation’s four biggest railway companies, contending they had a price-fixing scheme to illegally boost profits.

In the lawsuits filed Monday around the U.S., the companies said BNSF Railway Co., CSX Transportation Inc., Norfolk Southern Railway Co. and Union Pacific Railroad Co. conspired to boost prices starting in 2003 by imposing coordinated fuel surcharges, ultimately pocketing billions of dollars in profits.
So I guess the GT/CN, KCS, and SOO/CP are off the hook?

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