Competition Commission fines

[Hoof-Hearted]

Anyway so I see the CC is now after the cement producers in SA. I say if the fskrs have been colluding then punish the hell out of them ...
CC raids cement producers

BUT


... what the hell happens to all these millions the CC has imposed as fines?
Some few that I could get some info on over the last 2 years:

• 50-odd million from motor manufacturers
• around 60 million between SAA and Lufthansa
• around 100 million from Tiger Brands
• 145 million from Reclamation Group
• around 50 million from Adcock
• close to 10 million from ANSAC
• 45 mill from Foodcorp
• a few mill from milk cartels
• 6% of 2007 turnover from both Thusanong and Dismed
• Aveng 46 mill
• Sasol - a whopping 250 million Rhondt ... South African

 

[rph72]

I also would like to know.

 

[ponder]

Hey, thats close to a billion rand there!

 

[Balstrome]

Any chance that I could get a rebate from these fines or am I socks smoking ?

 

[Hoof-Hearted]

Any chance that I could get a rebate from these fines or am I socks smoking ?

Now there's the problem I have with these "fines" ... they don't benefit the consumer in any way. In fact I think they cause further price increases by the organisation who are fined, because they now have to make up for the loss to their bottom line.

The fines should all go towards subsidising the prices that were "coluded" as far as I'm concerned.