Basic math. $50M fine. 40M Canadians. $1.25 per person? You think they didn't make more than $1.25 per person price fixing? Fines are only useful if they exceed the profits. >
this post was submitted on 29 Jun 2023
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I wonder if each loaf of bread might have had $1.25 extra these days.
I want the head of the CEOs in a straw basket at the bottom of a guillotine.
You know what I want? I want this fine to be both absurdly punitive and non-tax-deductable. I want it to hurt so bad that other companies don't try the same thing.
I want the fate of Canada Bread to be a tale told to frighten the young. When the children of capitalists gather 'round the hearth, I want the story of this price fixing to make Chipper and Buffy fear for their inheritance.
I've never heard a single 'Canadian shopper' say that. What a BS article from the title on down.
Having said that, I'd like to see a transition to fines being a percentage of gross income. A 10% fine for each year they were price fixing would definitely get their attention.
Yeah, if fines work like a "cost of doing business" that they just account for on their budget sheets then it's really just pointless. It's also hilarious when I see a government fine a company for doing something wrong, but the customers that got screwed over get none of the money AND the fine amount is not as much as the profit they gained off doing the action. It's like a double "fuck you" to the customer who got screwed over.
Or make fines be 100% or more of the ill gotten gains. It's probably like 10% or less