Makes a good argument about market consolidation being bad for consumers, and Kroger's merger with Albertson's maybe shouldn't be allowed. Still irresponsible and inaccurate to say price gouging, but I do wish we were much more forceful about preventing over-consolidation in every industry. In this case, Kroger is probably going to win on the argument that they can't effectively compete with Amazon and Walmart without the merger because those guys have ridiculous scale. The irony being Kroger is catching the heat but Amazon and Walmart are causing the problem. What do you do about those guys, break them up? While it'd probably be better for us if we did, sounds like a herculean task.
i differ on that. Amazon, Walmart and Kroger target different markets Amazon is online Walmart targets rural and smaller cities Kroger and Albertson dominates the major metro areas in the West and Midwwest the merger of K and A would enable them to price-gouge consumers even more, to become Robin Hood in reverse
euphemism for monopoly decades ago, in the major West coast / Mid west metro areas, there were ~ 10 grocery retailers competing in the same market / space the current Kroger / Albertson, individually, has been the result of 4 or more mergers now, Kroger and Albertson want to merge to give them momopoly power in their space
to assuage the backlash from strident consumers and POTUS candid ate proposing a ban on price gauging / current FTC investigation into price gauging US Online Grocvery Prices Plunge the Most on Record in August
I work in an industry with actual monopolies, power and gas utilities. I'm also concerned about over-consolidation weakening competition and resulting in bad outcomes for consumers. But, I don't know why you want to play so fast and loose with vocabulary.
Harris has said that she will call on Congress to pass a federal ban on price gouging and give the federal government more authority to prevent consolidation in the food industry Donald Trump, on the other hand, wants to impose tariffs and reduce food imports, a plan that would cause food prices to increase
Novo Nordisk, a Norweigian-based big Pharma, makes such weight loss drug Wegovy and diabetes treatment Ozempic Its CEO was grilled by Senator Bernie Sander for pric- gouging US consumers Sanders contends that Novo Nordisk charges Americans substantially higher prices for its blockbuster drugs than it does for patients in other countries.
Never has more BS been spewing out in one single thread. I’m thoroughly convinced that abooboo is working for the Harris-Biden administration.
Right. Our healthcare system is broken and these companies leverage metrics and big data to squeeze every last drop of profit out of how it all works. Strictly, logically speaking, they're not doing anything wrong.
in 2022, the Biden Admin passed The Inflation Reduction Act , which aims to reduce the federal government budget deficit, lower prescription drug prices, and invest in domestic energy production while promoting clean energy. as it relates to prescription drug prices, the law contains provisions that cap insulin costs at $35/month and will cap out-of-pocket drug costs at $2,000 for people on Medicare lower prices, including Medicare negotiation of drug prices for certain drugs (starting at 10 new ones per year by 2026, increasing to more than 20 additional ones per year by 2029 and rebates from drug makers who price gouge
as it relates to drug prices, how effective has the IRA been ? US's largest health insurance company, United HealtheCare (UNH) just released its earning report. https://www.healthcaredive.com/news/unitedhealth-q3-2024-earnings-change-cyberattack/729874/it lowered it earnings guidance for the remainder of the current fiscal year, attrubutable to the IRA, which privides a cap on insulin cost at $35/month and out--of-pocket drug cost at $2,000 for people on Medicare
Boeing Gouged Air Force With 8,000% Markup on Soap Dispensers: Pentagon The Pentagon's inspector general on Tuesday said the audit showed the company overcharged the Air Force by nearly $1 million for different parts for C-17 cargo planes. Among the C-17 parts singled out in the report were soap dispensers, which the Air Force reportedly overpaid for by $149,072. This amount for the undisclosed amount of dispensers came due to an alleged 7,943 percent markup.
more price-gouging opportunities for greedy companies Coffee Futures Jumps 6% to new record amid 'panic buying Coffee futures rose more than 6% on Monday in the ICE exchange to a fresh all-time high above $4.30 per pound, with some market participants citing panic in the market amid limited coffee availability. Arabica coffee futures hit a record for the 13th straight trading session. Reports of a dry, hot weather system forming over Brazil's coffee areas helped to drive the new price peaks, as farmers in the world's top grower are reluctant to sell. Coffee prices are up around 35% so far this year after soaring 70% last year.
Volatility in commodity markets is pretty common. So it's coffee's turn, but many commodities face it as a result of supply risks from time to time, especially with agricultural products. I'm not sure what's special about this story.
https://www.msn.com/en-us/money/topstocks/walmart-announces-price-hikes-due-to-tariffs/vi-AA1EQz3x On the heels of the 90-day truce between the US & China to suspend tariffs, During an earnings call on Thursday, May 15, Walmart CEO Doug McMillon confirmed that the tariffs will bring higher prices at the company’s stores. “We will do our best to keep our prices as low as possible. But given the magnitude of the tariffs, even at the reduced levels announced this week, we aren’t able to absorb all the pressure given the reality of narrow retail margins,” McMillon said during the call, per the outlet. “The higher tariffs will result in higher prices,” he added. The CEO reportedly said that tariffs on China will increase the price of electronics and toys, and shoppers could also see the costs of food products coming from Costa Rica, Peru and Colombia to rise as well.
