EU fines banana importers for price fixing

[formercia]

Source: biz.yahoo

http://biz.yahoo.com/ap/081015/eu_eu_banana_cartel.html
EU fines banana importers for price fixing
Wednesday October 15, 7:12 am ET
EU fines banana importers Dole and Weichert euro60 million (US$82.9 million) for cartel

BRUSSELS, Belgium (AP) -- The European Union slapped a euro60.3 million ($82.9 million) fine on the importers of Dole and Del Monte bananas Wednesday, claiming they operated an illegal banana cartel.

The EU said Chiquita also joined the cartel that fixed prices for bananas in eight EU nations, but the American banana giant was not fined because it blew the whistle on the scheme.


U.S. company Dole was fined euro45.6 million ($62.7 million) for its role in the cartel, which operated from 2000 to 2002, the European Commission said in a statement. U.S.-German company Weichert, which imported Del Monte bananas at the time, received a euro14.7 million ($20.2 million) fine.

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Read more: http://biz.yahoo.com/ap/081015/eu_eu_banana_cartel.html

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No loyalty among thieves. Ohhh,the irony...:rofl:

[Demeter]

1. If It Doesn't Say Chiquita on the Label, Maybe It's a Bad Day to Buy Bananas!

[formercia]

8. Perhaps they should have a rat on the label

since they didn't get fined, I assume they kept the profits. It's organized crime in my book.

The rat in the hat.

[dipsydoodle]

2. This part of the age old banana war

The EU also imposes lower tarrifs on Latin American bananas. Odd details here : http://www.eubusiness.com/Trade/1183147202.11/

Apart from that some of our supermarkets in the UK only sell Fair Trade bananas which is a bit like saying both Dole and Chiquita can go fuck 'emselves anyway.

It worth reading up on the past antics of the USA's banana companies : http://en.wikipedia.org/wiki/United_Fruit_Company
United Fruit became Chiquita.

If nothing else it will provide the background to the USA aided coupe in Guatemala in the fifties - that in effect was the orignal banana war. More here : http://en.wikipedia.org/wiki/Operation_PBSUCCESS

[formercia]

3. Thank you for the background information.

People need to read up on this part of American History.

[dipsydoodle]

4. The antics of the Dulles brothers,

Director of Central Intelligence and Secretary of State, working for their personal benefit in the instance of Guatemala was later used as a model for both the bay of Pigs and the Contra war - both of course were miserable fuck ups :rofl:

[WriteDown]

5. I just know....

Banana Republic is involved in this somehow.

[indio55555]

6. Great.

First it was the oil cartel taking our money. Now we have banana cartel popping up.

[merwin]

7. So... does that make the EU a banana republic?

Sorry, had to...