The great bread scandal

Datura

Datura

Captain Faptastic
Joined
Oct 12, 2006
Messages
47,937
Reaction score
9,709
Location
Floating Around
If you think you've been paying too much for bread, you're probably right. Tiger Consumer Brands has been fined R99-million after being caught fixing the price of bread and costs of milling with a cartel of major national competitors - and that's getting off lightly.
Click to expand...
\\iol
 
Seems nobody is interested about being overcharged for bread
 
Apparently so.

Imagine the hooha if this were petrol related.

I guess some people just have a blind spot when it comes to certain things (staple foods for instance) TBH I never have given much thought to the cost of my bread, but then again, I maybe go through one loaf every two weeks...
 
I'm sure I remember this story coming up a while ago. An investigation was supposed to have been launched and it has apparently bourn some fruits. Well done to the Competition Commision

:mad:What pisses me off though is the fine. :mad:
Who gets the 99 bar???
Gauranteed it's not the consumer who has been overpaying for the last couple of years. So basically, us overpaying for bread is actually just being turned into another tax. We pay too much ... Governemet levies a fine on the guilty party which goes straight into the treasury coffers to be squandered on more luxury German sedans
 
I reckon the 99 Million should be discounted on all bread for the next while, seen as we are the ones who paid for it in the first place.
 
Imraahn Ismail Mukaddam, told the commission he had received letters simultaneously from three bread distributors warning of a price increase.
Click to expand...
HaHa. Bloody idiots. Even the price fixing is done incompetently.

Instead of handing out fines, the commission should be going after the execs. There is no way that prices have been fixed since '94 and the execs did not know about it.
 
If it goes into the coffers then there should be R99bar of tax relief floating around.
 
Rocket-Boy said:
If it goes into the coffers then there should be R99bar of tax relief floating around.
Click to expand...
No tax relief. The money goes into the National Revenue Fund, which is controlled by the the Treasury, but used for national and local spheres of government or municiplaities as set out here. *cough* office parties *cough*
 
This really p1sses me off! Food prices are completely out of hand at the moment. I suspected something was going on with price fixing. Tiger Consumer Brands are a bunch of snakes. They have their finger in many pies. They should be fined, plus forced to cut their bread prices in half, so that we, the people who have been ripped off, benefit by this.

If they dig a little deeper, they will find that Tiger, etc are not only doing this when it comes to bread.
 
HavocXphere said:
No tax relief. The money goes into the National Revenue Fund, which is controlled by the the Treasury, but used for national and local spheres of government or municiplaities as set out here. *cough* office parties *cough*
Click to expand...

'Tis the season.
 
If you do the math, the illegal profit made during the last 12 months is over a billion rand.

Why wouldn't you risk being penalised for less than 10 % of that !

Make them pay every last cent they illegally gained.
 
Lets just say we are overpaying by R 1, now if like me you buy a loaf once a week, that R 52 a year of being overcharged, multiply that by 13 years since '94 that R 676. Does not sound like a lot, then you multiply that by the 45 million people that we have in this country and all buy a loaf over the 13 year period!

R 30,420,000,000.00 :eek:

**** charging them with price fixing, charge them with treason!!
 
daveza said:
If you do the math, the illegal profit made during the last 12 months is over a billion rand.
Click to expand...
Huh???

It states that their annual turnover is R1,7 billion. Thats the cash they receive. From that you need to subtract the cost of the stuff they sell (backing flour etc). Then you have Gross Profit. From that you need to subtract all the other expenses and tax. Only then do you have their net profit. (Turnover and Profit is not the same).

A penalty of 10% of turnover would be fairly serious, especially if the gross profit percentage is low.
 
No doubt it is a substantial fine, however there is no benefit for the people most affected by the price fixing. Government collects the tin, and the rest us must maar f...k voort
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X