FDX & UPS - Fined $740M
12-16-2015, 04:52 AM
#1
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FDX & UPS - Fined $740M
Ouch!! Looks like they pushed for more than the standard 3%
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France fines FedEx, DHL and others $740-million for colluding on prices
PARIS — THE ASSOCIATED PRESS
France’s competition regulator has fined 20 package delivery companies, including the French operations of FedEx and DHL, a total of €672-million ($740-million U.S.) for colluding on price increases over a period of six years.
The competition authority’s ruling Tuesday outlined secret meetings from 2004-2010, and said the price rises implemented were especially damaging to small businesses that use package delivery services.
In one case, companies agreed to a standard system to pass on higher diesel costs to customers, the authority said.
And in another, it said some companies had been planning an annual 5 per cent increase, but after secret meetings with representatives from other delivery companies, decided to raise them 7 per cent instead.
Regulators discovered the activity thanks to a special program of clemency for whistleblowers.
FedEx Express said in a statement that the company “accepts the decision” but noted that the practices were carried out by another company Tatex, which it FedEx acquired in 2012.
The company insisted it “has a longstanding commitment of compliance with all laws, including competition laws, in all countries in which it operates.”
Deutsche Post-DHL spokesman Daniel McGrath confirmed that the company has received the regulator’s decision, but would not comment further.
“We are reviewing it in more detail,” he said.
*******************************
France fines FedEx, DHL and others $740-million for colluding on prices
PARIS — THE ASSOCIATED PRESS
France’s competition regulator has fined 20 package delivery companies, including the French operations of FedEx and DHL, a total of €672-million ($740-million U.S.) for colluding on price increases over a period of six years.
The competition authority’s ruling Tuesday outlined secret meetings from 2004-2010, and said the price rises implemented were especially damaging to small businesses that use package delivery services.
In one case, companies agreed to a standard system to pass on higher diesel costs to customers, the authority said.
And in another, it said some companies had been planning an annual 5 per cent increase, but after secret meetings with representatives from other delivery companies, decided to raise them 7 per cent instead.
Regulators discovered the activity thanks to a special program of clemency for whistleblowers.
FedEx Express said in a statement that the company “accepts the decision” but noted that the practices were carried out by another company Tatex, which it FedEx acquired in 2012.
The company insisted it “has a longstanding commitment of compliance with all laws, including competition laws, in all countries in which it operates.”
Deutsche Post-DHL spokesman Daniel McGrath confirmed that the company has received the regulator’s decision, but would not comment further.
“We are reviewing it in more detail,” he said.
12-17-2015, 07:47 AM
#2
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Posts: 94
You may want to fix the thread title.
UPS was not involved in the price-fixing, according to the WSJ report
UPS was not involved in the price-fixing, according to the WSJ report
United Parcel Service, which holds a significant market share in France, didn’t participate in the price-fixing scheme, the watchdog said.
12-17-2015, 08:58 AM
#3
Gets Weekends Off
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Joined APC: Jul 2007
Position: Gear Monkey
Posts: 3,191
Originally Posted by Used2BeFlyer
You may want to fix the thread title.
UPS was not involved in the price-fixing, according to the WSJ report
UPS was not involved in the price-fixing, according to the WSJ report
Meant to type Fedex & DHL, which were both mentioned in the original article
Unfortunately, it appears the time limit has passed for me to "edit" my original post
Or they were the whistle blowers! 
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